Slide 1: Unparalleled Leverage to the Nuclear Renaissance
For personal use only Unparalleled Leverage to the Nuclear Renaissance March 2011 Town of Swakopmund 35km from Etango
Slide 2: Technical and Forward-Looking Disclaimers
Technical 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 and other factors relat
Slide 3: Pure Investment Exposure to Uranium
Pure Investment Exposure to Uranium Bannerman equity leveraged to U3O8 price For personal use only Global Nuclear Renaissance Right Time Feasibility Study in final stages 5-7 Mlbs U3O8 per year Mine life +20 years 212 Mlbs defined (8th largest undeveloped deposit) Right Scale 1,300km2 pr
Slide 4: Global Uranium Project Ranking
Global Uranium Project Ranking For personal use only Contained Resources (Mlbs U3O8) 1000 800 725 600 526 525 412 367 400 344 312 212 184 200 158 0 Husab Elkon Inkai Cigar Lake Rössing Etango Jabiluka McArthur River Letlhakane Imouraren Source: Company presentations and data 4 Excludes by-product or
Slide 5: Accomplishments in 2010
Accomplishments in 2010 Stayed focused, worked hard, and today present a substantial company For personal use only Resource Expansion: new zones discovered during infill drilling leads to additional resources. Etango Project Feasibility Study: low technical risk project enjoys benefits from unique a
Slide 6: Objectives for 2011
Objectives for 2011 For personal use only 1. Secure development partner(s). 2. Complete Definitive Feasibility Study (DFS) by end of March 2012 quarter. 3. Value engineering and margin expansion. 4. Obtain mining licence. 5. Regional exploration. 6
Slide 7: Nuclear Power Utilities
Nuclear Power Utilities Chasing limited new uranium sources For personal use only 120 Nuclear Reactor Build Programs Estimated Number of Nuclear Power Reactors World Nuclear Association Estimates 2009-2030 100 80 High Growth Regions 60 40 20 0 Canada China France India Japan Korea Russia Sweden Ukra
Slide 8: Namibia
Namibia Premier uranium mining jurisdiction For personal use only Stable democratic government. 4th largest uranium producing country Etango Uranium – ambitions to grow. Project Political and social support Swakopmund Windhoek Walvis Bay of uranium mining. 35 years of uranium mining – curren
Slide 9: Premier Uranium Province
Premier Uranium Province 212Mlbs U3O8, nearby infrastructure & 1,300 km2 landholding For personal use only Right Place 9
Slide 10: Etango Uranium Project
Etango Uranium Project Feasibility study update - December 2010 For personal use only • M&I 149Mlbs (202ppm U3O8) & Inferred 64Mlbs U3O8 (176ppm U3O8). Mineral • Uniform geology, negligible marble leading to low acid consumption. Resource • +90% located in the clearly visible alaskite host rocks add
Slide 11: Etango Project Mineral Resource Estimate (October 2010)
Etango Project Mineral Resource Estimate (October 2010) Reported at a cut-off grade of 100ppm U3O8 For personal use only Measured Resources Indicated Resources Inferred Resources Deposit Tonnes Grade Contained U3O8 Tonnes Grade Contained U3O8 Tonnes Grade Contained U3O8 (Mt) (ppm U3O8) (Tonnes) (Mlb
Slide 12: Key Project Features
Key Project Features Accessible, Uncomplicated and Vast For personal use only ~90% of mineralisation internal to alaskite offering mining advantages. Geological sequence does not include Rössing formation – therefore not high acid consuming. Low open pit strip ratio of ~3.5 to 1. 70% of the
Slide 13: An Etango Advantage: Recovery & Processing Cost
An Etango Advantage: Recovery & Processing Cost For personal use only 7m column - Progressive U extraction and acid consumption 100% 90% 25.0 Heap Leach Acid Consumption kg/ t ore 80% 20.0 70% acid leach stopped; 4mm crush size. U extraction -% water rinse commenced. 60% 15.0 slow acid consumption
Slide 14: Heap Leach Column Tests
Heap Leach Column Tests 7 metre column test at “Ammtec”, Perth Column in position For personal use only Coarse granitic sand visually open & permeable Base of Column 14
Slide 15: Etango Project Layout
Etango Project Layout Onkelo For personal use only Oshiveli Etango West Waste Deposit East Waste Rock Dump Rock Dump Anomaly A Crushing Ondjamba Plant Deposit Hyena Deposits Heap Leach Residue On-off Heap N Facility Leach Plant & Pads Administration 3km 0km 1km 2km 3km 15
Slide 16: Etango Project Layout
Etango Project Layout For personal use only Solvent Administration Extraction Plant On-off Heap Coarse Agglomerator Leach Circuit Ore Stockpile High Pressure Primary Grinding Circuit Crushing Secondary Crushing Circuit Heap Leach Residue Facility West Waste Rock Dump 16 16
Slide 17: Dynamic on/off Heap Leach Pad
Dynamic on/off Heap Leach Pad For personal use only Dynamic on/off pad Stacking and reclaiming “Racetrack” end Central conveyors Stacker Reclaim bucket wheel 17
Slide 18: Dynamic on/off Heap Leach Pad
Dynamic on/off Heap Leach Pad For personal use only 18
Slide 19: Opportunities for Improvement
Opportunities for Improvement Areas in Focus for Q1 2011 For personal use only • Materials handling costs - plant throughput and mine life relationship. • Mill head grade through selective mining. • Optimisation of recovery and processing costs. • Improved utilisation of existing resource and target
Slide 20: Optimising Existing Resources
7,488,800 mN Optimising Existing Resources a a For personal use only b 7,488,300 mN b a a b b c c c 7,488,600 mN c Infill drill to Indicated status 20
Slide 21: Targeted Development Timetable
Targeted Development Timetable For personal use only PFS Completed PFS UPDATE Completed HEAP LEACH PILOT Initial environmental clearance received in April PROJEC 2010 DFS T FINANC E FINANCING Updated mining licence DESIGN/CONSTRUCT Right Time application to be lodged in June 2011 quarter COMM- ISS
Slide 22: Proven Track Record for Resource Growth
Proven Track Record for Resource Growth For personal use only Etango Project Mineral Resource Estimate at a cut-of f grade of 100ppm Note: Figures ma composites; bulk d 22 Right Scale
Slide 23: Looking Beyond Etango
Looking Beyond Etango For personal use only Focus to date almost solely on the Etango deposit. Known prospectivity now being investigated Radiometric surveys underway with new anomalies identified. An initial exploratory drilling campaign underway 23
Slide 24: Target Definition
Target Definition Etango RadonXTM Surveys For personal use only Radon gas in-ground cup surveys (RadonXTM) completed in 2010. Excellent correlation with known mineralisation. Radiometric Anomalism New radiometric trends identified. Etango deposit 24
Slide 25: Mineralised Trends
Mineralised Trends For personal use only 3 distinct trends in favourable stratigraphy. Over 28km of accessible strike length. Only 8km has been drilled. Desert sand cover obscures historical airborne radiometrics. New exploration underway Q111. 25
Slide 26: Capital Structure
Capital Structure As at February 23, 2011 For personal use only Share price A$0.73 Shares - currently on issue 234M Options - exercise prices A$0.40-7.50/share, avge A$2.12/share 18 M Employee performance rights 3M Convertible Note - matures Dec-2011 for A$10M or 16.3M shares 16 M Contingent Share I
Slide 27: Investment Rationale
Investment Rationale Uranium price leverage – right scale, place & time For personal use only Global significance 212Mlbs U3O8 & 5-7 Mlbs per annum. Low political risk and Premier uranium mining location. established infrastructure Technical feasibility Simple mining and processing, with low t
Slide 28: For personal use only
For personal use only www.bannermanresources.com Right Place, Right Scale, Right Time