Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Investor Presentation (March 2024)
24 slides from Bannerman Energy's investor presentation, Mar 20, 2024
Slide 1: Investor Presentation, March 2024
For personal use only 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: About Bannerman Energy
ABOUT BANNERMAN ENERGY The leading next- generation uranium For personal use only 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. Stron
Slide 5: The leading next-generation uranium supplier of choice
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 For personal use only (Mt) (ppm U3O8) U3O8 (Mlb) Measured 32.4 201 14.3 development assets Indicated 345
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 For personal use only production powerhouse Recognised tier-one supplier to global utilities 45-years of uranium production and export Three large-scale uranium mines; Top 3 global produce
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 For personal use only Bannerman Etango 20 NI 43-101 Etango Etango DFS Nano-filtration Etango-8 Unfolding lists on the Mtpa Scoping report 20 Mtpa optimisation
Slide 8: The uranium market resurgence is unfolding now
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE The uranium market resurgence is unfolding now For personal use only 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
Slide 9: Corporate snapshot
THE LEADING NEXT-GENERATION URANIUM SUPPLIER OF CHOICE Corporate snapshot CAPITAL STRUCTURE PRICE (ASX: BMN) For personal use only 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
Slide 10: The leading next-generation uranium supplier of choice
INVESTMENT HIGHLIGHTS The leading next- generation uranium For personal use only 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 approv
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 For personal use only 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
Slide 12: Outstanding Etango-8 upside price leverage
INVESTMENT HIGHLIGHTS 1. Outstanding Etango-8 upside price leverage For personal use only Upside DFS case US$80/lb US$1,172M US$435MNet 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 ca
Slide 13: Further in-ground leverage via Etango-XP and Etango-XT
INVESTMENT HIGHLIGHTS 1.Further in-ground leverage realisable via For personal use only 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 deposi
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 For personal use only LOM U3O8 price US$2,771M US$809M 34.4% Etango-XT Net cashflow (post-tax) Post-tax NPV8% Post-tax IRR Enhancement from Etango-8 (US$80/lb) +128% +124% +16.7% +13
Slide 15: Conventional production, technically de-risked through pilot-plant operation
INVESTMENT HIGHLIGHTS 2. Conventional production, technically de-risked For personal use only 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 par
Slide 16: All environmental approvals received
INVESTMENT HIGHLIGHTS 3. All environmental approvals received CONSENT TYPE DATE For personal use only 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 pip
Slide 17: Mining Licence awarded, Etango now fully permitted ahead of FID
INVESTMENT HIGHLIGHTS 3. Mining Licence awarded, with Etango now fully For personal use only 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 For personal use only Mondesa Conservancy Youth Learner Opportunities Assistance Tourism baseline monitoring Program Hospitality Education TOSCO since 2008 Trade Association of Namibia scholarship
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 For personal use only • 30+ years in project development/construction & contracting • 25+ years’ transactional and capital markets experience as
Slide 20: Significant positive social and environmental impact
INVESTMENT HIGHLIGHTS 6. Significant positive social and environmental impact For personal use only 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 p
Slide 21: A clearly defined route for Etango development
THE PATHWAY AHEAD A clearly defined route for 1 Etango development For personal use only 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
Slide 22: Roadmap to production
THE PATHWAY AHEAD Roadmap to production • ML granted Contracting For personal use only • 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
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 For personal use only emissions free power Established, unaligned supply jurisdiction World-class asset and delivery team Powering a decarbonised future 23
Slide 24: Contact Details
CONTACT DETAILS Brandon Munro Executive Chairman For personal use only Email: info@bmnenergy.com Phone: +61 8 9381 1436 @BannermanEnergy @Brandon_Munro 24
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