Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Bannerman Resources — Investor Presentation (February 2013)
27 slides from Bannerman Energy's investor presentation, Feb 4, 2013
Slide 1: Etango Uranium Project
For personal use only Etango Uranium Project Top 10 global uranium only project with exceptional leverage to increasing uranium price
Slide 2: Technical Disclosures and Forward-Looking Disclaimers
Technical Disclosures and Forward-Looking Disclaimers For personal use only This presentation should be read in conjunction with the release by Bannerman Resources Limited dated 10 April 2012 and entitled “Bannerman Reports Positive DFS Results and Milestone Agreement with Namibian State-Owned Minin
Slide 3: The Opportunity
The Opportunity Very strong outlook for uranium price and uranium investments For personal use only China building nuclear energy capability (5-year plan to increase nuclear power from 12.5Gw to 40Gw with multiple new reactors under construction) Japan confirms commitment to nuclear energy E
Slide 4: Corporate Snapshot
Corporate Snapshot For personal use only Share price A$0.125 Shares - currently on issue 307M Shares - fully diluted (for options, rights) 325M Market capitalisation (undiluted) A$38.4M Average daily traded volume in last 12 months ~450,000shares/day Top 20 shareholders ~45 % Cash on hand (as at Dec
Slide 5: The Backdrop – Strong Uranium Fundamentals
The Backdrop – Strong Uranium Fundamentals Demand For personal use only • Japan paves way for orderly restarts via recently established Nuclear Regulation Authority • Chinese implement plan to increase nuclear capacity from 12.5GWE to 40GWe by end 2015 – construction of 5 new reactors commenced in p
Slide 6: Demand – Asian Growth Driven
Demand – Asian Growth Driven For personal use only # reactors 220 Proposed 433 reactors operating 200 in 30 countries, Planned 180 63 under construction, 160 Under Construction 489 planned and proposed 140 Operable Reactors China recently stated its 120 intention to increase nuclear 100 capacity fro
Slide 7: A Global Top 10 Uranium Project
7 For personal use only 0 50 100 150 200 250 300 350 McArthur River Reflects 100% of projects. 335 Cameco/Areva Husab 320 CGNPC Source: Bannerman & Versant Partners, August 2012. Ranger/Jabiluka 246 ERA Cigar Lake 209 Cameco/Areva Inkai Cameco/Kazatomprom 135 Langer Heinrich 134 Paladin A Global Top
Slide 8: Historical Uranium Prices
Historical Uranium Prices For personal use only 8
Slide 9: Highly leveraged to the uranium price
Highly leveraged to the uranium price For personal use only Relative % change in pre-tax NPV against the U3O8 price 600% Bannerman’s enterprise % change in pre-tax NPV 500% 500% value per attributable 400% U3O8 resource pound is only ~US$0.20 300% 200% 100% 33% 0% 75 80 85 90 95 100 US$ U3O8 / lb Hi
Slide 10: International Standard Definitive Feasibility Study Underpins Etango
International Standard Definitive Feasibility Study Underpins Etango For personal use only Etango Project is underpinned by over 4 years of resource definition, metallurgical testing, feasibility study & environmental impact assessment 10
Slide 11: Robust DFS – Development Ready
Robust DFS – Development Ready Etango Site Layout For personal use only 16 year mine life, underpinned by N 119Mlbs P&P Reserve (194ppm U3O8); significant scope to grow reserve size Annual production of 6-9 Mlbs U3O8 Capex of US$870 million, with an additional $US380M in sustainable CAPEX over
Slide 12: Namibia – A Premier Uranium Mining Jurisdiction
Namibia – A Premier Uranium Mining Jurisdiction For personal use only Stable democratic Government Etango Political and social support of Uranium uranium mining Project Swakopmund Walvis Bay Windhoek 5th largest uranium producing country – ambitions to grow 35 years of uranium mining – Rio T
Slide 13: Erongo Uranium Province
Erongo Uranium Province Extensive uranium inventory and nearby infrastructure Located in the Erongo region which hosts the Rössing and Langer-Heinrich mines and the Husab Project For personal use only Infrastructure rich region of an established and arguably the premier uranium mining jurisdicti
Slide 14: Conclusions
Conclusions For personal use only Opportunity to share in upside of the Etango Uranium Project (80% BMN), the seventh largest uranium only project in the world Etango is development-ready and underpinned by Definitive Feasibility Study Etango is strategically located in Namibia, a premier uran
Slide 15: Etango Project Fundamentals: Scale & Simplicity
For personal use only ETANGO PROJECT FUNDAMENTALS SCALE & SIMPLICITY 15
Slide 16: Etango Overview
Etango Overview DFS completed in April 2012 and development ready with environmental approvals in place# For personal use only 16 year mine life, 6-9Mlbs U3O8 per annum, operating cost for first five years of US$41/lb U3O8 Production underpinned by 119Mlbs Proven & Probable Reserve (194ppm U3O
Slide 17: Etango Project Mineral Resource and Ore Reserve Estimates
Etango Project Mineral Resource and Ore Reserve Estimates For personal use only Mineral Resource Tonnes Grade Contained U3O8 (Mt) (ppm U3O8) (Mlbs) Measured 62.7 205 28.3 Indicated 273.5 200 120.4 Measured & Indicated Resource 336.2 201 148.8 Inferred (Etango) 45.7 202 20.3 Inferred (Ondjamba & Hyen
Slide 18: Ore Reserve Estimate based on over 300km Drilling
Ore Reserve Estimate based on over 300km Drilling For personal use only 18
Slide 19: Simple Open Pit Mining
Simple Open Pit Mining For personal use only 6km 1km YEAR 16 19
Slide 20: Simple, Conventional Process Flowsheet
Simple, Conventional Process Flowsheet For personal use only 20
Slide 21: Straightforward Stage Crushing
Straightforward 3 Stage Crushing For personal use only Primary Crushing 21
Slide 22: Conventional Sulphuric Acid Heap Leaching
Conventional Sulphuric Acid Heap Leaching For personal use only 50 day on – off cycle 22
Slide 23: Etango – DFS Pre-Production Capital Costs
Etango – DFS Pre-Production Capital Costs For personal use only US$ DFS Pre-Production Capital Cost Estimate (April 2012) million Mining – fleet, establishment & pre-stripping 127 Process plant 354 Site infrastructure 91 External infrastructure (power, water, rail, road and port) 47 EPCM costs 72 Ac
Slide 24: Etango – DFS Cash Operating Costs
Etango – DFS Cash Operating Costs For personal use only First 5 Life-of- DFS Cash Operating Cost Estimate (April 2012) Years Mine Mining: - US$/tonne mined 1.72 1.97 - US$/tonne ore 7.87 8.55 Processing (US$/tonne ore): Consumables, labour, maintenance & other 3.37 3.41 Sulphuric acid 1.78 1.79 Powe
Slide 25: Etango Development Strategy – Opportunities to Optimize Returns
Etango Development Strategy – Opportunities to Optimize Returns For personal use only • Mining equipment, pre-strip and infrastructure costs constitute approximately 40% of the total capital cost, and mining activities account for approximately 50% of the forecast operating costs. Optimisation oppor
Slide 26: Resource Utilisation Upside
Resource Utilisation Upside For personal use only Total U3O8 Mineral Resource comprises 149Mlbs M&I and 64Mlbs Inferred 26
Slide 27: Scale, Simplicity, Substance
www.bannermanresources.com Scale, Simplicity, Substance For personal use only
Bannerman Resources — Investor Presentation (February 2013) on 6ix