Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Investor Presentation (August 2021)
31 slides from Bannerman Energy's investor presentation, Aug 5, 2021
Slide 1: Etango-8: Powering the future
Etango-8 Powering the future 5 August 2021 ASX:BMN OTCQB:BNNLF
Slide 2: About Bannerman Energy
ABOUT BANNERMAN ENERGY Social leadership in the supply of raw materials for emissions free power 2
Slide 3: Important notices
Important notices Cautionary Statement Of the Mineral Resources scheduled for extraction and recovery in the Etango-8 Pre-Feasibility Study (PFS) production plan, 100% are classified as Measured or Indicated. Bannerman Energy Ltd (Bannerman, the Company) confirms that there are no Inferred Resources
Slide 4: 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 5: Introduction to Bannerman Energy
Introduction to Bannerman Energy ASX:BMN OTCQB:BNNLF 5
Slide 6: Bannerman at a glance
Bannerman at a glance CAPITAL STRUCTURE SHARE PRICE CHART (ASX:BMN) ASX share price (30 July 2021) A$0.16 12 month share price range A$0.032 – A$0.220 $0.25 Shares on issue 1,189 million $0.20 Market capitalisation A$190 M $0.15 Options and performance rights 70 million Average daily volume (ASX 1-m
Slide 7: Etango-8 Uranium Project
A WORLD-CLASS URANIUM ASSET Etango-8 Uranium Project § Globally large-scale resource endowment § Low technical risk § Excellent supporting infrastructure § Established uranium operating jurisdiction § Strong in-country presence and engagement § High scalability 7
Slide 8: The Etango journey
SUBSTANTIAL BODY OF HISTORICAL TESTWORK AND STUDY PROVIDES STRONG DE-RISKING The Etango journey Leadership change Etango-8 (3.5 Mlbs pa) NI 43-101 report Etango-8 Scoping Study Etango heap leach BMN listed on ASX de-risking complete Etango Pre-Feasibility Study You are here Demonstration EPL3345 pro
Slide 9: Etango-8 PFS Outcomes
ETANGO-8 PFS OUTCOMES An accelerated project development with strong financial returns 9
Slide 10: Key Etango-8 PFS outcomes
HIGHLY ROBUST PHYSICAL PARAMETERS AND STRONG PROJECTED ECONOMICS Key Etango-8 PFS outcomes1 15 years 2.07 : 1 US$65/lb US$222M Initial mine life Strip ratio (waste:ore)2 LOM U3O8 price Post-tax NPV8% 8 Mtpa 87.8% US$39/lb 3.8 years Throughput capacity Processing yield Cash opex (incl royalties) Payb
Slide 11: Etango-8 resources and reserves
207.8 Mlbs U3O8 Total Etango-only resources WORLD CLASS URANIUM RESOURCE 60.3 Mlbs U3O8 Etango-8 Ore reserve Etango-8 resources and reserves1 June 2021 Mineral Resource Estimate Tonnes Grade Contained U3O8 JORC (2012) reported within a US$75 pit shell above a 100 ppm U3O8 cut-off (Mt) (ppm U3O8) (Ml
Slide 12: Future life extension and/or scale up expansion
SUBSTANTIAL VALUE ENHANCEMENT POTENTIAL Future life extension and/or scale up expansion Final Etango-8 Interim 20Mtpa Etango Final 20Mtpa Etango 8Mtpa development 2021 PFS Pit 2015 DFS Pit2 2015 DFS Pit2 (8 pushbacks) (6 pushbacks) (8 pushbacks) retains flexibility to expand to larger throughput Pot
Slide 13: The path forward
Months to delivery +3 +6 +9 +12 +15 +18 +21 +24 +27 +30 +33 +36 +39 +42 +45 +48 (from 30 Sept 2021) DFS THE PATH FORWARD Approvals, Financing Production targeted to meet 2025 sector Engineering deficits Construction Production/ ramp-up 2022 2023 2024 2025 13
Slide 14: Detailed PFS information
COMPREHENSIVE TECHNICAL DISCLOSURE Detailed PFS information See the 113 page PFS announcement here: https://bit.ly/37dBrIZ See: www.bannermanenergy.com/presentations/ 14
Slide 15: Licence to operate
LICENCE TO OPERATE Strong community engagement with government and community support 15
Slide 16: Namibia
PREMIER URANIUM DEVELOPMENT JURISDICTION Namibia ü 45 year production history ü Top 4 global uranium player ü Politically/socially supportive ü Excellent infrastructure: port/road/rail/water/power • First class operating jurisdiction ü Stable and secure ü Strong Rule of Law ü Transparent mining legi
Slide 17: Social licence to operate
STRONG POSITION VIA SUBSTANTIAL BODY OF WORK AND ENGAGEMENT Social licence to operate § Environmental baseline since 2008 Environmental § High-quality, peer reviewed ESIA credentials completed in 2009 § Environmental approvals granted § An acknowledged leader in Corporate Social Responsibility in Na
Slide 18: Tenure and permitting
WELL DELINEATED AND UNDERSTOOD TENURE AND APPROVALS PROCESSES Tenure and permitting Mineral Deposit Retention Environmental Clearance Licence (MDRL) secures Certificate awarded for tenure over Etango Etango mine Environmental Clearance Five-year extendable term Certificate awarded for (initial expir
Slide 19: Globally significant impact
EVERY YEAR ETANGO-8 WILL DELIVER Globally significant impact 3.5 Mlbs U3O8 25 million 64 million 760 Namibian Enough uranium to power tonnes tonnes jobs 7-8 large nuclear reactors. The equivalent amount of Carbon emissions avoided 760 well paid direct jobs coal that our production from nuclear power
Slide 20: Summary
SUMMARY World-class Etango-8 Uranium Project, Namibia 20
Slide 21: A world-class uranium asset
ETANGO-8 A world-class uranium asset Globally significant Robust economics and Environmental approvals output of 3.5 Mlbs pa low hurdles to with strong community with further expansion development and government support scalability Namibia a premier Low technical risk Streamlined development uranium
Slide 22: Uranium sector
URANIUM SECTOR Outstanding dynamics today Key thematic drivers tomorrow 22
Slide 23: Outstanding dynamics
CURRENT URANIUM PRICES ARE UNSUSTAINABLE Outstanding dynamics ~20Mlbs pa sector +20Mlbs disruption COVID extending deficit in 2020 into 2021 Supply discipline +impact of COVID disruption to Kazakh, Cigar Lake suspensions, case unsustainable bear market prices Canadian, Namibian supply challenges els
Slide 24: Uranium market is tightening
SUPPLY DEFICITS BROADENING FROM 2024 Uranium market is tightening Etango already included 24 Source: World Nuclear Association, The Nuclear Fuel Report: Global Scenarios for Demand and Supply Availability 2019-2040
Slide 25: Uranium market is tightening
SUPPLY DEFICITS BROADENING FROM 2024 Uranium market is tightening Inventory drawdown + financial buying 2028 WNA Upper + junior buying 2025 scenario by 2040 Etango already included 25 Source: World Nuclear Association, The Nuclear Fuel Report: Global Scenarios for Demand and Supply Availability 2019
Slide 26: 8 Key thematics driven by dominant economic paradigms
Geopolitical tension BIG PICTURE URANIUM DRIVERS 8 Key thematics Expansionary driven by dominant monetary policy economic paradigms Decarbonisation imperative 26
Slide 27: Sentiment switch for uranium sector
DOMINANT ECONOMIC PARADIGMS DRIVING KEY URANIUM THEMATICS Sentiment switch for uranium sector World’s largest Electricity growth China remains Implications from economies commit to from “electrification disruptive behemoth SMRs and advanced carbon neutral of everything” through 14th FYP reactors by
Slide 28: 8 Key thematics driven by dominant economic paradigms
Geopolitical tension Geographic imbalance SMRs and advanced BIG PICTURE URANIUM DRIVERS reactors China 8 Key thematics Carbon neutral by Generalist driven by dominant 2050/60 investors and speculators economic paradigms “Electrification ESG and green of everything” Commodities funding supercycle Dec
Slide 29: Contact
CONTACT Brandon Munro Chief Executive Officer E: info@bmnenergy.com T: +61 8 9381 1436 @BannermanEnergy @Brandon_Munro 29
Slide 30: Appendices
APPENDICES A world-class uranium asset 30
Slide 31: 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 corporate lawyer and resources executive. Ronnie Beevor Brandon Munro Rothschild Austra
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