Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Investor Presentation (February 2022)
32 slides from Bannerman Energy's investor presentation, February 2022
Slide 1: Etango-8 Uranium Project
Etango-8 Uranium Project Accelerated pathway to production February 2022 ASX:BMN OTCQB:BNNLF
Slide 2: Important notices
Important notices Cautionary Statement Of the Mineral Resources scheduled for extraction and recovery in the Etango-8 Pre-Feasibility Study (PFS) production plan, 100% are classified as Measured or Indicated. Bannerman Energy Ltd (Bannerman, the Company) confirms that there are no Inferred Resources
Slide 3: Important notices
Important notices Forward Looking Statements Competent Person Statement This presentation includes various forward looking statements which are identified by the use of forward looking words Mineral Resources such as “may”, “could”, “will”, “expect”, “believes”, “intend”, “plan”, “estimate”, “antici
Slide 4: Social leadership in the supply of raw materials for emissions free power
ABOUT BANNERMAN ENERGY Social leadership in the supply of raw materials for emissions free power 4
Slide 5: Bannerman at a glance
Bannerman at a glance CAPITAL STRUCTURE SHARE PRICE CHART (ASX:BMN) ASX share price (31 January 2022) A$0.23 12 month share price range A$0.11 – A$0.43 A$0.45 Shares on issue 1,232 million A$0.40 A$277 M A$0.35 Market capitalisation (US$200 M) A$0.30 A$0.25 Options and performance rights 47 million
Slide 6: Etango-8 Uranium Project
A WORLD-CLASS URANIUM ASSET Etango-8 Uranium Project § Globally large-scale resource endowment § 3.5Mlbs per annum production with scalability § Conventional production with low technical risk § Excellent supporting infrastructure § Established uranium operating jurisdiction § Strong in-country pres
Slide 7: Why Bannerman?
Why Bannerman? Scale and leverage Accelerated pathway Strategic appeal 7
Slide 8: Scale and leverage
Scale and leverage World-class scale and robust economics 8
Slide 9: World-class uranium inventory
ETANGO-8 RESOURCES AND RESERVES1 World-class uranium inventory 1. For full details of the Mineral Resources and Ore Reserve estimate and disclosures, please refer to ASX Satellite release dated 2 August 2021, “Etango-8 Pre-Feasibility Study”. The Mineral Resources underpinning the 207.8 Mlbs U3O8 Or
Slide 10: Future life extension and/or scale up expansion
SUBSTANTIAL VALUE ENHANCEMENT POTENTIAL Future life extension and/or scale up expansion Final Etango-8 Interim 20Mtpa Etango Final 20Mtpa Etango 8Mtpa development 2021 PFS Pit 2015 DFS Pit2 2015 DFS Pit2 (8 pushbacks) (6 pushbacks) (8 pushbacks) retains flexibility to expand to larger throughput Pot
Slide 11: Key Etango-8 PFS outcomes
HIGHLY ROBUST PHYSICAL PARAMETERS AND STRONG PROJECTED ECONOMICS Key Etango-8 PFS outcomes1 15 years 2.07 : 1 US$65/lb US$222M Initial mine life Strip ratio (waste:ore)2 LOM U3O8 price Post-tax NPV8% 8 Mtpa 87.8% US$39/lb 3.8 years Throughput capacity Processing yield Cash opex (incl royalties) Payb
Slide 12: Etango-8 NPV sensitivities (post-tax)
STRONG LEVERAGE TO POTENTIAL URANIUM PRICE INCREASES Etango-8 NPV sensitivities (post-tax) 10% increased uranium price Delivers 47% Increased NPV8 post-tax 12
Slide 13: Accelerated pathway
Accelerated pathway Producible pounds this cycle 13
Slide 14: The Etango journey
SUBSTANTIAL BODY OF HISTORICAL TESTWORK AND STUDY PROVIDES STRONG DE-RISKING The Etango journey Leadership change Etango-8 (3.5 Mlbs pa) NI 43-101 report Etango-8 Scoping Study Etango heap leach BMN listed on ASX de-risking complete Etango Pre-Feasibility Study You are here Demonstration EPL3345 pro
Slide 15: Namibia
PREMIER URANIUM JURISDICTION Highly established nuclear regulatory regime Namibia ü Top 3 global uranium player (2020) ü 45 year production history and export credentials ü Three large-scale mines: Rossing, Husab, Langer Heinrich Ideal jurisdiction for uranium development ü Politically/socially supp
Slide 16: Established tenure and environmental permitting
PATHWAY CLEAR OF TYPICAL URANIUM ROADBLOCKS Established tenure and environmental permitting Mineral Deposit Retention Environmental Clearance Licence (MDRL) secures Certificate awarded for tenure over Etango Etango mine Environmental Clearance Five-year extendable term Certificate awarded for (initi
Slide 17: The path forward: production ready in 2025
Months to delivery +3 +6 +9 +12 +15 +18 +21 +24 +27 +30 +33 +36 +39 +42 +45 +48 (from 30 Sept 2021) DFS THE PATH FORWARD Approvals, Financing Production ready in 2025 Engineering Construction Production/ ramp-up 2022 2023 2024 2025 17
Slide 18: Strategic appeal
Strategic appeal Unaligned and unconflicted pounds 18
Slide 19: Globally significant impact
EVERY YEAR ETANGO-8 WILL DELIVER Globally significant impact 3.5 Mlbs U3O8 25 million 64 million 760 Namibian Enough uranium to power tonnes tonnes jobs 7-8 large nuclear reactors. The equivalent amount of Carbon emissions avoided 760 well paid direct jobs coal that our production from nuclear power
Slide 20: Low technical risk
HIGHLY PROVEN FLOW-SHEET DE-RISKED OVER SEVERAL YEARS Low technical risk Etango-8 Flow Sheet (PFS) 20
Slide 21: Namibia uniquely positioned for geopolitical diversity
Namibia uniquely positioned for geopolitical diversity Global uranium production is concentrated in 4 geopolitical blocks TOSCO 1. United States 2. Russia 3. France 4. China (emerging) Active role modelling Namibia is friends with all key uranium demand markets 1. US/Europe 2. Russia 3. China 4. Ind
Slide 22: Strong ESG credentials built over 15 years in Namibia
Strong ESG credentials built over 15 years in Namibia Erongo Early SRT Conservancy Environmental baseline Development Foundation Learner Assistance Tourism Education monitoring since 2008 Program Hospitality TOSCO Association of Namibia Trade scholarships CTAN (NIMT) Rehabilitation of Namib Environm
Slide 23: Uranium Sector
Uranium Sector Mainstream embracing nuclear 23
Slide 24: 8 Key thematics driven by dominant economic paradigms
Geopolitical dynamics BIG PICTURE URANIUM DRIVERS 8 Key thematics Inflationary driven by dominant environment economic paradigms Climate mitigation 24
Slide 25: Sentiment switch for uranium sector
DOMINANT ECONOMIC PARADIGMS DRIVING KEY URANIUM THEMATICS Sentiment switch for uranium sector World’s largest Electricity growth China remains Implications from economies commit to from “electrification disruptive behemoth SMRs and advanced carbon neutral of everything” through 14th FYP reactors by
Slide 26: COP26 momentum
MAINSTREAM EMBRACING NUCLEAR Geopolitical COP26 momentum Geographic dynamics imbalance ü US Bipartisan Infrastructure Deal included US$6 billion to prevent premature reactor closure and SMRs and US$2.5 billion for advanced reactor advanced reactors development China Carbon ü France 2030 plan for re-
Slide 27: Summary
SUMMARY World-class Etango-8 Uranium Project, Namibia 27
Slide 28: Why Bannerman?
Why Bannerman? Scale and leverage Accelerated pathway Strategic appeal
Slide 29: Contact
CONTACT Brandon Munro Chief Executive Officer E: info@bmnenergy.com T: +61 8 9381 1436 @BannermanEnergy @Brandon_Munro 29
Slide 30: Appendices
APPENDICES A world-class uranium asset 30
Slide 31: Bannerman team
Bannerman team Strong and experienced board Skilled management with Namibian expertise § 20+ years’ transactional and financing experience as a § 40+ years’ investment banking experience incl. head of Ronnie Beevor Brandon Munro corporate lawyer and resources executive. Rothschild Australia. (Non-Ex
Slide 32: Detailed PFS information
COMPREHENSIVE TECHNICAL DISCLOSURE Detailed PFS information See the 113 page PFS announcement here: https://bit.ly/37dBrIZ See: www.bannermanenergy.com/presentations/ 32
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