Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Investor Presentation (August 2011)
27 slides from Bannerman Energy's investor presentation, Aug 22, 2011
Slide 1: Corporate Update – Investor Marketing, Asia and Australia
For personal use only Corporate Update Investor Marketing, Asia and Australia August 2011
Slide 2: Corporate Snapshot
Corporate Snapshot As at August 19, 2011 For personal use only Share price A$0.37 Shares - currently on issue 234 M Shares – fully diluted (for options, rights, convertible note and contingent issues) 276 M Market capitalisation (undiluted) A$87M / US$90M Average daily traded volume in last 12 month
Slide 3: New Reactor Build Outlook
New Reactor Build Outlook: Countries previously living in energy poverty are rapidly expanding For personal use only # reactors 200 180 Proposed 160 443 reactors operating, Planned 178 under construction, 140 Under Construction 325 planned and proposed 120 Operating Reactors 100 By 2020 the number o
Slide 4: Etango – Advanced, globally significant uranium project
Etango Advanced, globally significant uranium project For personal use only Scale 6-8 Mlbs U3O8 per year over +15 year open pit mine life. 212 Mlbs U3O8 deposit defined (top 15 largest undeveloped deposit). Simplicity Shallow deposit and close to established infrastructure. Uniform and simpl
Slide 5: Etango – Top Global Uranium Project
Etango – Top 15 Global Uranium Project For personal use only Contained Resources (Mlbs U3O8) Developing of Pure Uranium Projects Producing 1,000 856 800 619 Namibia 600 502 488 446 407 400 343 261 256 212* 173 200 101 80 0 Ranger/Jabiluka McArthur River Imouraren Inkai Lethlakane Etango Rössing Husa
Slide 6: Namibia – Premier uranium mining jurisdiction
Namibia Premier uranium mining jurisdiction For personal use only 35 years of uranium mining: Rio Tinto/Rössing. Etango Paladin/Langer-Heinrich. Uranium Areva/Trekkopje. Project Swakopmund Windhoek Walvis Bay 4th largest uranium producing country – ambitions to grow. Stable democratic go
Slide 7: Erongo Uranium Province
Erongo Uranium Province 212Mlbs U3O8 (Etango), nearby infrastructure & 1,300km2 landholding For personal use only 7
Slide 8: Etango – PFS Update (December 2010)
Etango – PFS Update (December 2010) For personal use only Onkelo • Pre-production capex of Oshiveli US$638M plus US$64M initial mining fleet. N Etango West Waste Rock Dump Deposit East Waste Rock Dump • Operating costs of US$42/lb U3O8, with Anomaly A DFS target of US$38/lb. Crushing Ondjamba Plant
Slide 9: Etango – A Unique Deposit
Etango – A Unique Deposit For personal use only ~90% of mineralisation within alaskite. 70% of deposit within 200 metres of surface. Low pre-strip and waste/ore ratio of 3.5 to 1. Low in acid consuming carbonates. Rapid and uniform leaching, with consistently high recoveries. Little, if
Slide 10: Evolution of the Development Approach
Evolution of the Development Approach The pursuit of unit cost efficiencies For personal use only PFS DFS • 15Mtpa, with stockpiling of • Up to 20Mtpa. 5-7Mt of feed per year. Throughput • Resource doubled in the PFS. • Production 5-7Mlbspa U3O8. • Production 6-8Mlbspa U3O8. • Optimised for location
Slide 11: DFS Timetable
DFS Timetable For personal use only Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Qtr Qtr Qtr Qtr Qtr Qtr Qtr PFS Update (Completed) PFS Review (Completed) Assessed opportunities DFS Engineering & DFS identified in Testwork Completion PFS Review On-site pilot plant Linear Initial Infrastructure E
Slide 12: Hanlong Acquisition Proposal
Hanlong Acquisition Proposal For personal use only Conditional proposal submitted by Chinese group Sichuan Hanlong Group (“Hanlong”) on 9 July 2011. Hanlong is seeking to acquire 100% of Bannerman for A$0.612 cash per share by way of a scheme of arrangement. Hanlong is one of China’s largest p
Slide 13: Hanlong Acquisition Proposal – Terms & conditions
Hanlong Acquisition Proposal Terms & conditions For personal use only Proposal Acquisition of 100% of Bannerman. Price A$0.612 cash per share. Structure Negotiated Scheme of Arrangement under Australian law. Key conditions • Due diligence completed to Hanlong’s satisfaction by 30 September 2011. • B
Slide 14: Highly leveraged to the uranium price
Highly leveraged to the uranium price For personal use only 14
Slide 15: Investment Highlights – The Etango Advantage
Investment Highlights The Etango Advantage – Simple, Big & Accessible For personal use only Scale & longevity 212Mlbs U3O8 deposit and 6-8 Mlbs per annum. +15 year mine life. Low sovereign risk Politically stable with established mining legislation. 35 year history of uranium mining and expo
Slide 16: Scale, Simplicity, Substance
www.bannermanresources.com For personal use only Scale, Simplicity, Substance
Slide 17: Technical Disclosures and Forward-Looking Disclaimers
APPENDIX Technical Disclosures and Forward-Looking Disclaimers For personal use only Certain disclosures in this presentation, including management's assessment of Bannerman Resources Ltd’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties an
Slide 18: Proven Track Record of Resource Growth
APPENDIX Proven Track Record of Resource Growth A consistent growth story at <US$0.25 per lb U3O8 For personal use only * * Bannerman holds an 80% interest in the Etango Project through its Namibian subsidiary. All details reported are for 100% of the Project. 18
Slide 19: Mineral Resource Statement
APPENDIX Mineral Resource Statement As at August 2011 For personal use only Etango Project* Mineral Resource Estimate at a cut-off grade of 100ppm U3O8 Category Tonnes Grade Contained U3O8 (Mt) (ppm U3O8) (Mlbs) Measured 62.7 205 28.3 Indicated 273.5 200 120.4 Measured & Indicated 336.2 201 148.7 In
Slide 20: Material Movement Optimisation – Waste Dump Locations
APPENDIX Material Movement Optimisation Comparison of Waste Dump Locations For personal use only PFS (December 2010) DFS – Work in Progress 20
Slide 21: Material Movement Optimisation
APPENDIX Material Movement Optimisation Deferral of waste strip on 20Mtpa throughput scenario For personal use only 21
Slide 22: Dynamic on/off Heap Leach Pad
APPENDIX Dynamic on/off Heap Leach Pad Proven in large, low grade copper operations in South America For personal use only Dynamic on/off pad Stacking and reclaiming “Racetrack” end Central conveyors Stacker Reclaim bucket wheel 22
Slide 23: Favourable Nature of Feed
APPENDIX Favourable Nature of Feed Granitic - sand & gravel like, with no clay For personal use only Benefits High permeability. Uniform leach results. Geotechnical stability supports heap leaching and possibly co-disposal of coarse leach residue with waste rock. 23
Slide 24: 7m column - Progressive U extraction and acid consumption
APPENDIX 7m column - Progressive U extraction and acid consumption 100% 25.0 90% Recovery & Acid Consumption kg/ t ore For personal use only 80% 20.0 70% acid leach stopped; Processing Costs U extraction -% water rinse commenced. 60% 15.0 Consistent leaching, rapid initial slow acid consumption re
Slide 25: Recent leaching testwork - Swakopmund
APPENDIX Recent leaching testwork - Swakopmund For personal use only 25
Slide 26: Cash Operating Costs (Dec-2010 PFS Update)
APPENDIX Cash Operating Costs (Dec-2010 PFS Update) Operating Cost Breakdown For personal use only Consumables, General & Labour, Admin Maintenance & 6% Other • Opportunities identified to 25% Mining 53% reduce opex by 10%. Sulphuric Acid 9% Power Water 6% 1% • Relatively low exposure to sulphuric a
Slide 27: Pre-production Capital
APPENDIX Pre-production Capital Pre-Production Capital Cost (Dec-2010 PFS Update) Cost Breakdown Mining - For personal use only Establishment Accuracy & Pre-Stripping Mining - Provision 5% Initial Fleet Owner & EPCM 8% 9% 14% Indirects, First Fill Process Plant & & Other 8% Heap Leach Pad 29% • PFS
Bannerman Energy — Investor Presentation (August 2011) on 6ix