Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Investor Presentation (March 2024)
25 slides from Bannerman Energy's investor presentation, March 2024
Slide 1: Investor Presentation
Investor Presentation INVESTOR PRESENTATION, MARCH 2024 ASX: BMN, OTCQX:BNNLF AND NSX:BMN
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Important notices Of the Mineral Resources scheduled for extraction and recovery in the Etango-8 Definitive Feasibility Study (DFS) production plan, 100% are classified as Measured or Indicated. Bannerman Energy Ltd (Bannerman, the Company) confirms that there are no Inferred Re
Slide 3: Forward Looking and Competent Person Statements
FORWARD LOOKING AND COMPETENT PERSON STATEMENTS 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 such as Mineral Resources “may”, “could”, “will”, “expect”, “
Slide 4: The leading next-generation uranium supplier of choice
ABOUT BANNERMAN ENERGY The leading next- generation uranium supplier of choice Our flagship Etango Project is one of the world’s largest, most advanced uranium development assets. Benefiting from its location in Namibia, a highly established uranium production powerhouse. Strongly de-risked through
Slide 5: One of the world's largest, most advanced uranium development assets
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE One of the world’s largest, Mineral Resource Estimate (55ppm U3O8 cut-off)1,3 Tonnes Grade Contained most advanced uranium Resource category (Mt) (ppm U3O8) U3O8 (Mlb) Measured 32.4 201 14.3 development assets Indicated 345.7 195 148.5 Inferred
Slide 6: Located in Namibia, a stable, highly established uranium production powerhouse
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE Located in Namibia, a stable, highly established uranium production powerhouse Recognised tier-one supplier to global utilities 45-years of uranium production and export Three large-scale uranium mines; Top 3 global producer Excellent infrastruc
Slide 7: Systematically de-risked through the uranium cycle
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE Systematically de-risked through the uranium cycle BULL MARKET BEAR MARKET BULL MARKET Bannerman Etango 20 NI 43-101 Etango Etango DFS Nano-filtration Etango-8 Unfolding lists on the Mtpa Scoping report 20 Mtpa optimisation study Scoping Study u
Slide 8: The uranium market resurgence is unfolding now
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE The uranium market resurgence is unfolding now 520 Utility contract demand building Upper Scenario for Uranium Supply and Demand (Mlbs U3O8) 455 Persistent • Rising confidence in medium- and long-term global uranium demand growth picture cumulat
Slide 9: Corporate snapshot
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE Corporate snapshot CAPITAL STRUCTURE PRICE (ASX: BMN) ASX share price (15 Mar 2024) A$2.99 A$4.00 12 month share price range A$1.19 – A$3.99 A$3.00 Shares on issue 153.0 M A$2.00 Market capitalisation A$457 M A$1.00 Options and performance right
Slide 10: The leading next-generation uranium supplier of choice
INVESTMENT HIGHLIGHTS The leading next- generation uranium supplier of choice 1 Strong technical and commercial viability demonstrated via Etango-8 DFS 2 Conventional production, technically de-risked through pilot-plant operation 3 Fully permitted with all environmental approvals and Mining Licence
Slide 11: Strong technical and commercial viability demonstrated via Etango-8 DFS
INVESTMENT HIGHLIGHTS 15 years 113.5 Mt 1. Strong technical and Initial mine life Total ore throughput commercial viability demonstrated via 8 Mtpa 240 ppm Etango-8 DFS Throughput capacity Average U3O8 head grade • Conventional open pit mining and heap leach processing at 8Mtpa throughput 87.8% 3.5
Slide 12: Outstanding Etango-8 upside price leverage
INVESTMENT HIGHLIGHTS 1. Outstanding Etango-8 upside price leverage Upside DFS case US$80/lb US$1,172M US$435M Net cashflow (post-tax) Post-tax NPV8% 2.9 years Payback (post-tax) 24.6% Post-tax IRR LOM U3O8 price Further enhanced 69% 108% -1.1 +7.6% project economics Base DFS case US$65/lb US$695M U
Slide 13: Further in-ground leverage realisable via subsequent throughput expansion or life extension
INVESTMENT HIGHLIGHTS 1.Further in-ground leverage realisable via ETANGO-XP ETANGO-XT subsequent throughput (EXPANDED SCALE) Average 6.7 Mlbs U3O8 (EXTENDED LIFE) Average 3.5 Mlbs U3O8 expansion or life extension output pa (post exp.) output pa • World-class scale Etango deposit delivers 16 years 27
Slide 14: Further upside price leverage from Etango-XP / XT
INVESTMENT HIGHLIGHTS 1. Further upside price leverage from Etango-XP / XT US$2,669M US$974M 41.3% Etango-XP US$95/lb US$2,771M US$809M 34.4% Etango-XT LOM U3O8 price Net cashflow (post-tax) Post-tax NPV8% Post-tax IRR Enhancement from Etango-8 (US$80/lb) +128% +124% +16.7% +136% +86% +9.8% US$1,804
Slide 15: Conventional production, technically de-risked through pilot-plant operation
INVESTMENT HIGHLIGHTS 2. Conventional production, technically de-risked through pilot-plant operation Proven flow sheet Fifteen years of technical de-risking Industrial-scale Heap Leach Demonstration Plant operated at site from 2015 validates flowsheet and key metallurgical parameters 15
Slide 16: All environmental approvals received
INVESTMENT HIGHLIGHTS 3. All environmental approvals received CONSENT TYPE DATE ECC 01608 (Etango Project) Achieved 5 July 2012 ECC 02193 (linear infrastructure) Achieved 26 July 2011 ECC 01529 (HL demonstration plant) Achieved 7 September 2014 ECC APP 3078 (permanent water pipeline) Achieved 10 Aug
Slide 17: Mining Licence awarded, with Etango now fully permitted ahead of FID
INVESTMENT HIGHLIGHTS 3. Mining Licence awarded, with Etango now fully permitted ahead of FID Etango Mining Licence awarded December 2023 Early-stage works contracts commenced Maintains target construction schedule 17
Slide 18: Long track record of responsibility and sustainability
INVESTMENT HIGHLIGHTS 4. Long track record of responsibility and sustainability Early SRT Environmental Mondesa Conservancy Youth Learner Opportunities Assistance Tourism baseline monitoring Program Hospitality Education TOSCO since 2008 Trade Association of Namibia scholarships CTAN (NIMT) Peer rev
Slide 19: Skilled delivery team with deep Namibian expertise
INVESTMENT HIGHLIGHTS 5. Skilled delivery team with deep Namibian expertise Gavin Chamberlain | Chief Executive Officer Brandon Munro | Executive Chairman • 30+ years in project development/construction & contracting • 25+ years’ transactional and capital markets experience as • Former Regional Dire
Slide 20: Significant positive social and environmental impact
INVESTMENT HIGHLIGHTS 6. Significant positive social and environmental impact 3.5 25 64 760 Mlbs U3O8 million million Namibian per annum, enough to power tonnes tonnes of carbon emissions avoided jobs 7-8 large nuclear of coal displaced by our reactors production from nuclear power using represents
Slide 21: A clearly defined route for Etango development
THE PATHWAY AHEAD A clearly defined route for 1 Etango development Access road enabling controlled access to mine site with minimal impact on surrounding area Early site works commenced – construction access and water supply US$2M contract awarded to Namibian-based contractor1 2 Temporary water pipe
Slide 22: Roadmap to production
THE PATHWAY AHEAD Roadmap to production • ML granted Contracting • Conclude offtake agreements • Obtain strategic / Financing project financing • Complete FID • Long-lead works Construction • Mine and infrastructure • HL + IX process plant Production 3.5 Mlbs U3O8 p.a. output 6.7 Mlbs p.a. Expansion
Slide 23: Social leadership in the future supply of raw materials for emissions free power
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE Social leadership in the future supply of raw materials for emissions free power Established, unaligned supply jurisdiction World-class asset and delivery team Powering a decarbonised future 23
Slide 24: Etango-8 DFS and Etango-XP / XT Scoping Study
APPENDIX Etango-8 DFS and Etango-XP / XT Scoping Study Key Metrics Unit Etango-8 DFS Etango-XP (second phase to 16 Mtpa) Etango-XT (extended life at 8 Mtpa) Physicals Total ore mined and processed Mt 113.5 210.2 210.2 Average strip ratio x 2.2 3.2 3.2 Average head grade ppm U3O8 240 234 234 Average
Slide 25: Contact Details
CONTACT DETAILS Brandon Munro Executive Chairman Email: info@bmnenergy.com Phone: +61 8 9381 1436 @BannermanEnergy @Brandon_Munro 25
Bannerman Energy — Investor Presentation (March 2024) on 6ix