Slide 1: Corporate Update - Mining 2011 Resources Convention
For personal use only Corporate Update Mining 2011 Resources Convention Brisbane, Queensland, Australia 26 October 2011
Slide 2: Technical Disclosures and Forward-Looking Disclaimers
Technical Disclosures 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 f
Slide 3: Corporate Snapshot
Corporate Snapshot As at October 24, 2011 For personal use only Share price A$0.30 Shares - currently on issue 234 M Shares – fully diluted (for options, rights, convertible note and contingent issues) 276 M Market capitalisation (undiluted) A$70M / US$73M Average daily traded volume in last 12 mont
Slide 4: New Reactor Build Outlook
New Reactor Build Outlook: Countries previously living in energy poverty are rapidly expanding For personal use only # reactors 200 180 Proposed 443 reactors operating, 160 Planned 178 under construction, 140 Under Construction 325 planned and proposed Operating Reactors 120 100 By 2020 the number o
Slide 5: Nuclear power growth engines
Nuclear power growth engines: For personal use only Nuclear share of electricity generation, by country, 2010 Source: World Nuclear Association % 5
Slide 6: Etango: Advanced, globally significant uranium project
Etango Advanced, globally significant uranium project For personal use only Scale 6-8 Mlbs U3O8 per annum over +15 year open pit mine life. 212 Mlbs U3O8 resource (top 15 largest undeveloped deposit). Simplicity Shallow deposit and close to established infrastructure. Uniform and simple mine
Slide 7: Etango – Top Global Uranium Project
Etango – Top 15 Global Uranium Project For personal use only Contained Resources (Mlbs U3O8) Developing of Pure Uranium Projects Producing 1,000 856 800 619 Namibia 600 502 488 446 407 400 343 261 256 212* 173 200 101 80 0 Cameco / Kazatomprom Ranger/Jabiluka McArthur River Imouraren Inkai Lethlakan
Slide 8: Namibia: Premier uranium mining jurisdiction
Namibia Premier uranium mining jurisdiction For personal use only 35 years of uranium mining: Etango Rio Tinto/Rössing. Uranium Paladin/Langer-Heinrich. Project Swakopmund Windhoek Areva/Trekkopje. Walvis Bay 4th largest uranium producing country – ambitions to grow. Stable democratic go
Slide 9: Erongo Uranium Province
Erongo Uranium Province 212Mlbs U3O8 (Etango), nearby infrastructure & 1,300km2 landholding For personal use only 9
Slide 10: Etango – A Unique Deposit
Etango – A Unique Deposit For personal use only Mineralisation starts at surface. 70% of deposit within 200 metres of surface. ~90% of mineralisation within alaskite. Low waste/ore ratio of 3.5 to 1. Etango PFS pit design (6km long x 1km wide) - uranium mineralisation shown in green and yell
Slide 11: Etango – A Unique Deposit
Etango – A Unique Deposit Granitic – “sand & For personal use only gravel” like, with no clay Close-up image of the base of a High permeability. 7 metre column test Uniform leach results. No acid consuming carbonates. Little, if no, oxidant required. Heap Leach Column Progressive Tests U ext
Slide 12: Evolution of the Development Approach
Evolution of the Development Approach The pursuit of unit cost efficiencies For personal use only PFS DFS • 15Mtpa, with stockpiling of • Resource doubled in the PFS. 5-7Mt of feed per year. Throughput • Up to 20Mtpa. • Production 5-7Mlbspa U3O8. • Production 6-8Mlbspa U3O8. • Optimised for location
Slide 13: Etango – Site Layout
Etango – Site Layout For personal use only • PFS Update (Dec 2010): Pre-production capex of US$638M plus US$64M initial mining fleet. Operating costs of US$42/lb U3O8, with DFS target of US$38/lb. 0 1km 2km 13
Slide 14: Material Movement Optimisation
Material Movement Optimisation Comparison of Waste Dump Locations For personal use only PFS (December 2010) DFS – Work in Progress 14
Slide 15: Material Movement Optimisation
Material Movement Optimisation Deferral of waste strip on 20Mtpa throughput scenario For personal use only 15
Slide 16: Greater utilisation of existing resources
Greater utilisation of existing resources For personal use only Hyena Deposit (Inferred resource) Ondjamba Deposit (Inferred resource) Open at depth Resource zones outside pit design Etango Deposit (88% in Measured & Indicated resource categories) 1km 16
Slide 17: DFS Timetable
DFS Timetable Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 For personal use only Qtr Qtr Qtr Qtr Qtr Qtr Qtr PFS Update (Completed) PFS Review (Completed) Incorporate DFS DFS Engineering & opportunities Completion (Completed) Testwork On-site pilot plant Initial Environmental Linear Infrastructu
Slide 18: Recent Corporate Developments
Recent Corporate Developments For personal use only Conditional acquisition proposal submitted by Chinese conglomerate Sichuan Hanlong Group on 9 July 2011. Alignment of views regarding uranium sector fundamentals and the quality and strategic value of the Etango Project. As announced on 24 Oc
Slide 19: Investment Highlights
Investment Highlights The Etango Advantage – Simple, Big & Accessible For personal use only Scale & longevity 6-8 Mlbs per annum over +15 year mine life. 212Mlbs U3O8 deposit. Low technical risk Uniform and relatively shallow uranium deposit. Proven mining and processing practices. Graniti
Slide 20: Highly leveraged to the uranium price
Highly leveraged to the uranium price For personal use only 20
Slide 21: Scale, Simplicity, Substance
www.bannermanresources.com For personal use only Scale, Simplicity, Substance
Slide 22: Mineral Resource Statement
APPENDIX Mineral Resource Statement As at October 2011 For personal use only Etango Project* Mineral Resource Estimate at a cut-off grade of 100ppm U3O8 Category Tonnes Grade Contained U3O8 (Mt) (ppm U3O8) (Mlbs) Measured 62.7 205 28.3 Indicated 273.5 200 120.4 Measured & Indicated 336.2 201 148.7 I
Slide 23: Cash Operating Costs (Dec-2010 PFS Update)
APPENDIX Cash Operating Costs (Dec-2010 PFS Update) Operating Cost Breakdown For personal use only Consumables, General & Labour, Admin Maintenance & 6% Other • Opportunities identified to 25% Mining 53% reduce opex by 10%. Sulphuric Acid 9% Power Water 6% 1% • Relatively low exposure to sulphuric a
Slide 24: Pre-production Capital
APPENDIX Pre-production Capital Pre-Production Capital Cost (Dec-2010 PFS Update) Cost Breakdown Mining - For personal use only Establishment Accuracy & Pre-Stripping Mining - Provision 5% Initial Fleet Owner & EPCM 8% 9% 14% Indirects, First Fill Process Plant & & Other 8% Heap Leach Pad 29% • PFS