Slide 1: Etango Uranium Project Preliminary Feasibility Study
For personal use only Etango Uranium Project Preliminary Feasibility Study December 2009
Slide 2: Forward-Looking & Technical Disclosures
Forward-Looking & Technical Disclosures 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 relatin
Slide 3: Board Approval
Board Approval For personal use only Commit to completing a 12-15 month Definitive Feasibility Study (“DFS”), commencing immediately. Pursue the flotation concentrate tank leaching option as the preferred processing flowsheet, subject to satisfactory completion of further flotation testing durin
Slide 4: Project Highlights – Flotation Concentrate Leaching
Project Highlights – Flotation Concentrate Leaching Robust large scale, long life uranium project For personal use only Location • Namibia, a premier uranium mining jurisdiction. Resource base • Large near-surface resource – M&I 103Mlbs and Inferred 49Mlbs U3O8. Mine life • +16 years. IRR/NPV • Pre-
Slide 5: Mineral Resource
Mineral Resource Forward Extensive Looking uranium and deposit Technical located primarily Disclosures in flat desert terrain For personal use only Etango Project Mineral Resource Estimate – December 2009 Uniform Conditioning (“UC”) Method Measured & Indicated Resources Inferred Resources Lower Tonn
Slide 6: Mineral Resource Confidence
Mineral Resource Confidence 68% in Measured & Indicated Categories For personal use only Resource zones: Measured Indicated Anomaly A N Inferred & Pit design Oshiveli Onkelo 6km strike length Drilling completed since the last resource estimate will result in greater resource conversion to Indicated
Slide 7: Resource Expansion
Resource Expansion New Mineralised Zone – “Hyena” For personal use only Hyena - 20 of 42 RC drill holes have intersected significant mineralisation, particularly in the Hyena South zone. Best result of 16m at 1,021ppm U3O8 North Zone from 84m downhole depth. The intersections obtained from thi
Slide 8: Conventional Open Pit Mining
Conventional Open Pit Mining Significant benefits derived from shallow, flat dipping & long deposit For personal use only Final pit design Onkelo Starter pits Likely a single pit based Area drilled subsequent to Resource model zones on recent drilling results. completion of resource model Simple
Slide 9: Expansion of Mineable Resource
Expansion of Mineable Resource Targeting a higher conversion rate For personal use only 75% resource conversion to date. To incorporate drilling post mid-2009. Re-optimise based on flotation concentrate parameters. Gap closed between Onkelo and Oshiveli. Resource zones: Measured Indicated In
Slide 10: Flotation Concentrate Leaching Flowsheet
Flotation Concentrate Leaching Flowsheet Application of established technologies For personal use only Flotation Concentrate Leaching Flowsheet Page 10
Slide 11: Flotation Testwork
Flotation Testwork Over 94% flotation recovery in 5.5% mass pull concentrate For personal use only Fresh water Recycled water Improved frothing with recycled water may present opportunity to reduce reagant consumption Page 11
Slide 12: Site Layout
Site Layout Flat terrain & simple deposit shape For personal use only Page 12
Slide 13: Infrastructure & Utilities
Infrastructure & Utilities Proximity to all key infrastructure requirements For personal use only 20 GL Trekkopje/Areva AREVA Plant Valencia/Forsys Bannerman Tenements Road Power Line Rössing/Rio Tinto Railway Proposed Primary Uranium Deposit 25 GL Plant (NamWater) Secondary Uranium Deposit Rössing
Slide 14: Pre Tax IRR (%) Sensitivities
Pre Tax IRR (%) Sensitivities US$10/lb increase in U3O8 price almost doubles NPV For personal use only Uranium Price (US$/lb U3O8) Discount Rate 60 70 80 NPV NPV NPV IRR% IRR% IRR% (US$M) (US$M) (US$M) 12% $- 12% $313 22% $633 31% 10% $59 12% $431 22% $802 31% 8% $143 12% $580 22% $1,017 31% Operati
Slide 15: Project Enhancement Opportunities
Project Enhancement Opportunities For personal use only • Resource extension and conversion - incorporation of drilling completed since July 2009 resource model. • Mining efficiencies – economies of scale and dual-powered truck haulage. • Processing optimisation. • Infrastructure synergies with neig
Slide 16: “Licence to Operate”
“Licence to Operate” Comprises both regulatory & social considerations For personal use only High impact Need for • Employment Responsibility Development • Education & training • Community building Rewards for Business case • Community support Opportunity Responsible • Government recognition Develop
Slide 17: Development Timeline
Development Timeline Optimise design & minimise lead time For personal use only 2010 2011 2012-13 • Finalise process flowsheet • Board approval • Pre-strip mining • Resource update • Financing • Construction • Mining licence • Long lead items • Commissioning • DFS • Construction & production Page 17
Slide 18: Next Steps & Newsflow
Next Steps & Newsflow For personal use only • Commencement of DFS – To start immediately and scheduled for completion in Q1 2011, for a development decision. • Permitting - Lodge mining licence application by end 2009. • Metallurgical testwork - Flotation locked-cycle and pilot plant testwork in Q1
Slide 19: Management Team
Management Team Project development expertise Len Jubber For personal use only CEO & Managing Director Mining Engineer Peter Kerr John Turney Chief Financial Officer Project Director Chartered Accountant Metallurgist Brandon Munro, GM Corporate Development Lawyer Ann Gibbs Peter Christians Ivan Sara
Slide 20: Financing Model
Financing Model Maximising shareholder value through progressively reducing the cost of capital and minimising shareholder dilution For personal use only Equity Project Debt Finance Strategic Partner Page 20
Slide 21: Etango Uranium Project: Right Place, Right Scale, Right Time
Etango Uranium Project Right Place, Right Scale, Right Time For personal use only 5-7 Mlbs U3O8 per annum over +16 year mine life. Robust and extensive resource estimate. Located within easy reach of local towns, port and airport. Uncomplicated and low risk mining. Processing options utili
Slide 22: For personal use only
For personal use only www.bannermanresources.com.au