Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Shareholder Meeting (November 2022)
25 slides from Bannerman Energy's shareholder meeting presentation, Nov 16, 2022
Slide 1: The Etango-8 Journey
The Etango-8 Journey AGM – 16 November 2022
Slide 2: 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 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: Social leadership in the supply of raw materials for emissions free power
ABOUT BANNERMAN ENERGY Social leadership in the supply of raw materials for emissions free power 4
Slide 5: Bannerman Energy Overview
(6 BANNERMAN energy Bannerman Energy Overview
Slide 6: Bannerman at a glance
Bannerman at a glance CAPITAL STRUCTURE SHARE PRICE CHART (ASX:BMN) ASX share price (15 November 2022) A$2.12 A$4.50 12 month share price range A$1.50 – A$4.35 A$4.00 Shares on issue 149.6 million A$3.50 A$3.00 Market capitalisation A$317 M A$2.50 Options and performance rights 4.7 million A$2.00 Av
Slide 7: The Etango journey
SUBSTANTIAL BODY OF HISTORICAL TESTWORK AND STUDY PROVIDES STRONG DE-RISKING The Etango journey Etango-8 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 pro
Slide 8: 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 9: World-class uranium inventory 207.8 Mlbs U3O8
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 2 August 2021, “Etango-8 Pre-Feasibility Study”. The Mineral Resources 207.8 Mlbs U3O8 underpinning the Or
Slide 10: Low technical risk
PROVEN FLOW-SHEET DE-RISKED OVER SEVERAL YEARS Low technical risk Etango-8 Flow Sheet (PFS) 10
Slide 11: 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 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: Deep Namibian, uranium and nuclear expertise
BANNERMAN IS THE RIGHT TEAM Deep Namibian, uranium and nuclear expertise Ronnie Beevor NED, Chairman Brandon Munro MD & Chief Executive Officer Mike Leech Non-Executive Director Werner Ewald Managing Director, Namibia Alison Terry Non-Executive Director Steve Herlihy Chief Financial Officer Clive Jo
Slide 14: Strong ESG credentials built over 15 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 15: Etango-8
Etango-8 Re-imagining the Etango ore body 15
Slide 16: Key Metrics
Comparison of Etango-8 PFS with DFS OS (2015) Key Metrics Plant throughput Production (U3O8 LOM avg) Initial mine life 20 8 7.2 Mlbs 3.5 Mlbs 15.7 15 Mtpa Mtpa pa pa years years 40% 49% -% Total production Strip ratio Feed grade (LOM) 113Mlbs 53Mlbs 2.8:1 2.07:1 195ppm 232ppm 45% -25% +19% Refer to
Slide 17: Key Metrics
Comparison of Etango-8 PFS with DFS OS (2015) Key Metrics* Pre-production Capital* Cash cost (LOM) US$ US$ US$ US$ 793M 274M 38/lb 39/lb 34% +2.5% Project IRR (post-tax) NPV8 (post tax) at at $65/lb $65/lb US$ US$ 9.6% 20.3% 86M** 222M +200% +250% * Does not credit 2017 Processing OS gains ($73M cap
Slide 18: Achieving Etango-8
Achieving Etango-8 How did we do it? 18
Slide 19: The Etango ore body (fly-through video)
Over 300,000m of drilling defines a world-class scale ore body The Etango ore body (fly-through video) 19
Slide 20: Expansion potential
Expansion potential Etango-8 to Etango-? 20
Slide 21: 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) 21
Slide 22: Bannerman over the Etango-8 journey
Bannerman over the Etango-8 journey SHARE PRICE CHART (ASX:BMN) Etango-8 PFS A$4.50 (2 August 2021) Etango-8 Scoping A$4.00 Study A$3.50 (5 August 2020) A$3.00 A$2.50 A$2.00 A$1.50 A$1.00 A$0.50 A$0.00 Jan-16 Ma y-16 Sep-16 Jan-17 Ma y-17 Sep-17 Jan-18 Ma y-18 Sep-18 Jan-19 Ma y-19 Sep-19 Jan-20 Ma
Slide 23: 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 Q2 2023 Project financing and offtake workstreams In process Final Investment Decision (FID) Target late 2023 23
Slide 24: Contact
CONTACT Brandon Munro Chief Executive Officer E: info@bmnenergy.com T: +61 8 9381 1436 @BannermanEnergy @Brandon_Munro Courtesy: Oklo Inc 24
Slide 25: 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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