Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Investor Presentation (March 2023)
22 slides from Bannerman Energy's investor presentation, March 2023
Slide 1: Etango-8 Uranium Project
Etango-8 Uranium Project March 2023
Slide 2: Important notices
Important notices Cautionary Statement Of the Mineral Resources scheduled for extraction and recovery in the Etango-8 Defined Feasibility Study production plan, 100% are classified as Measured or Indicated. Bannerman Energy Ltd (Bannerman, the Company) confirms that there are no Inferred Resources i
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: Bannerman Energy Overview
(6 BANNERMAN energy Bannerman Energy Overview
Slide 5: Bannerman at a glance
Bannerman at a glance CAPITAL STRUCTURE SHARE PRICE CHART (ASX:BMN) ASX share price (9 March 2023) A$1.64 $3.50 12 month share price range A$1.50 – A$3.25 $3.00 Shares on issue 150 million $2.50 Market capitalisation A$246M $2.00 Options and performance rights 4.4 million $1.50 Average daily volume
Slide 6: The Etango journey
HISTORICAL TESTWORK AND STUDY PROVIDES STRONG DE-RISKING The Etango journey Etango-8 development Leadership change (3.5 Mlbs pa) NI 43-101 report Etango-8 Scoping Study Etango heap leach BMN listed on ASX de-risking complete You are here Etango Pre-Feasibility Study Demonstration EPL3345 project acq
Slide 7: 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 8: 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 Satellite ASX release dated 6 December 2022, “Etango-8 Definitive-Feasibility Study”. The Mineral Resources 225 Mlbs U3O8 underpinning
Slide 9: Low technical risk
PROVEN FLOW-SHEET DE-RISKED OVER SEVERAL YEARS Low technical risk Etango-8 Flow Sheet (PFS) 9
Slide 10: Deep Namibian, uranium and nuclear expertise
BANNERMAN IS THE RIGHT TEAM Deep Namibian, uranium and nuclear expertise Ronnie Beevor Brandon Munro NED, Chairman MD & Chief Executive Officer Mike Leech Gavin Chamberlain Non-Executive Director Chief Operating Officer Alison Terry Werner Ewald Non-Executive Director Managing Director, Namibia Cliv
Slide 11: Strong ESG credentials built over years
Strong ESG credentials built over 15 years Mondessa Early SRT Conservancy Environmental baseline Youth Opportunities Learner Assistance Tourism Education monitoring since 2008 Program Hospitality TOSCO Association of Namibia Trade scholarships CTAN (NIMT) Rehabilitation Environmental of Namib desert
Slide 12: Globally significant impact
EVERY YEAR ETANGO-8 WILL DELIVER Globally significant impact 64 million 25 million 760 Namibian 3.5 Mlbs U3O8 tonnes tonnes jobs Enough uranium to Carbon emissions power 7-8 large nuclear The equivalent amount avoided from nuclear 760 well paid direct jobs reactors. of coal that our power using our
Slide 13: Key DFS outcomes
Key DFS outcomes An accelerated project development with strong financial returns 13
Slide 14: Base Etango-8 DFS outcomes
HIGHLY ROBUST PHYSICAL PARAMETERS AND STRONG PROJECTED ECONOMICS Base Etango-8 DFS outcomes1 15 years 2.22 : 1 US$65/lb US$209M Initial mine life Strip ratio (waste:ore) LOM U3O8 price Post-tax NPV8% 8 Mtpa 87.8% US$35/lb 4.1 years Throughput capacity Processing yield Cash opex excl royalties Paybac
Slide 15: Upside DFS price case (US$80/lb)
SIGNIFICANT LEVERAGE TO URANIUM PRICE Upside DFS price case (US$80/lb) Net cashflow (post-tax) NPV8% (post-tax, real basis, ungeared) Base case Upside case Base case Upside case US$695M US$1,172M US$209M US$435M Selling price assumption +69% +108% Base case Upside case US$65/lb US$80/lb IRR (post-ta
Slide 16: Expansion potential
Expansion potential Etango-8 to Etango-? 16
Slide 17: Comparison of pit shell (15 years)
Etango-8 is a sub-set of Etango-20 Comparison of pit shell (15 years) Final Etango-8 Interim 20Mtpa Etango Final 20Mtpa Etango 2021 PFS Pit 2015 DFS Pit 2015 DFS Pit (8 pushbacks) (6 pushbacks) (8 pushbacks) 17
Slide 18: A uranium production powerhouse
NAMIBIA IS THE RIGHT PLACE A uranium production powerhouse Ideal jurisdiction for uranium development • Highly established nuclear regulatory regime with 45-year uranium production and export history • Top 3 global uranium producer (2020) with three large-scale mines: Rossing, Husab, Langer Heinrich
Slide 19: Full power ahead
KEY ETANGO-8 MILESTONES PIPELINE Full power ahead Mining Licence Application lodged ✔ Q3 2022 Etango-8 DFS Completion ✔ Q4 2022 Front End Engineering and Design (FEED) Completion H2 2023 Project financing and offtake workstreams In process Final Investment Decision (FID) Target (subject to market) l
Slide 20: A world-class uranium asset
ETANGO-8 A world-class uranium asset Globally significant output Robust economics and Environmental approvals of 3.5 Mlbs pa with further low hurdles to with strong community expansion scalability development and government support Namibia a premier Streamlined development Low technical risk through
Slide 21: Contact
CONTACT Brandon Munro Chief Executive Officer E: info@bmnenergy.com T: +61 8 9381 1436 @BannermanEnergy @Brandon_Munro Image courtesy Oklo Inc 21
Slide 22: Appendix A: Bannerman team
Appendix A: 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 Austra
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