Bannerman Energy Ltd · ASX:BMN

Bannerman Energy — Bannerman Resources — RIU Sydney Resources Round-Up Conference 2011

25 slides from Bannerman Energy's conference presentation, May 11, 2011

  1. Slide 1: RIU Sydney Resources Round-Up Conference

    For personal use only RIU Sydney Resources Round-Up Conference Wednesday May 11, 2011

  2. 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

  3. Slide 3: Etango – An Advanced Globally Significant Uranium Project

    Independent Developer Etango – An Advanced Globally Significant Uranium Project For personal use only  5-7 Mlbs U3O8 per year over +20 year mine life. Right Scale  212 Mlbs deposit defined (top 10-15 largest undeveloped deposit).  Further opportunities to enhance project economics.  Namibia, pre

  4. Slide 4: Recent Milestones

    Recent Milestones For personal use only 1. Etango Project Pre-Feasibility Study (PFS) Update completed in December 2010: • Mineral resource estimate increased by 40% in 2010. • Acid heap leach flowsheet presents low technical risk pathway. • Increased confidence in cost estimates. 2. Working capital

  5. Slide 5: Proven Track Record of Resource Growth

    Proven Track Record of Resource Growth A consistent growth story at <US$0.25 per lb U3O8 For personal use only * * Bannerman holds an 80% interest in the Etango Project through its Namibian subsidiary. All details reported are for 100% of the Project. 5

  6. Slide 6: Corporate Snapshot

    Corporate Snapshot As at May 10, 2011 For personal use only Share price A$0.34 Shares - currently on issue 234 M Shares – fully diluted (for options, rights, convertible note and contingent issues) 275 M Market capitalisation (undiluted) A$80M / US$85M Average daily traded volume in last 14 months ~

  7. Slide 7: Objectives for 2011

    Objectives for 2011 For personal use only 1. Progress Etango DFS. 2. Improve project economics. 3. Secure development partner(s). 4. Obtain permitting approvals and licences. 5. Test exploration targets. 7

  8. Slide 8: Asian utilities are still targeting limited new long-term uranium resources

    Asian utilities are still targeting limited new long-term uranium resources For personal use only 120 Nuclear Reactor Build Programs Estimated Number of Nuclear Power Reactors World Nuclear Association Estimates 2009-2030 100 High Growth Regions 80 60 40 20 0 Canada China France India Japan Korea Ru

  9. Slide 9: Namibia: Premier uranium mining jurisdiction

    Namibia Premier uranium mining jurisdiction For personal use only  Stable democratic government. Etango Uranium  4th largest uranium producing Project Swakopmund Windhoek country – ambitions to grow. Walvis Bay  Political and social support of uranium mining.  35 years of uranium mining – Rio Ti

  10. Slide 10: Erongo Uranium Province

    Erongo Uranium Province 212Mlbs U3O8 (Etango), nearby infrastructure & 1,300km2 landholding For personal use only 10

  11. Slide 11: Etango - Key Project Features

    Etango - Key Project Features Accessible, Simple & Big Site Layout Plan (PFS Update December 2010) For personal use only  ~90% of mineralisation Onkelo within alaskite.  70% of deposit within 200 metres of surface. Oshiveli  Low strip ratio of 3.5 to 1. N Etango West Waste Deposit East Waste  Lo

  12. Slide 12: Immediate Focus within the DFS on Achieving Project Improvements

    Immediate Focus within the DFS on Achieving Project Improvements For personal use only 1. Plant throughput rate and material movement costs. 2. Recovery and processing costs. 3. Co-disposal of heap leach residue and mined waste rock. Targeted opex of US$38/lb U3O8 produced (~10% reduction) 12

  13. Slide 13: Plant Throughput & Material Movement

    1. Plant Throughput & Material Movement The pursuit of unit cost efficiencies For personal use only PFS DFS • 15Mtpa. • Up to 20Mtpa. • Stockpiling of 5-7Mt of feed Throughput • Resource doubled in the PFS. per year. • Optimised for location of waste • Centered on plant location. Project Layout rock

  14. Slide 14: Material Movement Optimisation

    Material Movement Optimisation Comparison of mine waste dump locations For personal use only PFS (December 2010) DFS – Work in Progress 14

  15. Slide 15: Recovery & Processing Costs

    7m column - Progressive U extraction and acid consumption 100% 25.0 90% 2. Recovery & Acid Consumption kg/ t ore For personal use only 80% 20.0 70% acid leach stopped; Processing Costs U extraction -% water rinse commenced. 60% 15.0  Consistent leaching, rapid initial slow acid consumption relative

  16. Slide 16: Uniform and Rapid Leaching heap leach column test

    Uniform and Rapid Leaching 7 metre heap leach column test For personal use only “Sand and gravel” nature, and clay free, providing high permeability and uniform results 16

  17. Slide 17: Co-disposal of heap leach residue & mined waste rock

    3. Co-disposal of heap leach residue & mined waste rock For personal use only • PFS based on separate storage of heap leach residue and mined waste rock. • Key characteristics make co-disposal with waste rock a potential viable alternative:  Coarse material (~4mm); and  Heap leaching concludes wit

  18. Slide 18: DFS Timetable

    For personal use only 18 DFS Timetable

  19. Slide 19: Exploration distinct mineralised trends in favourable stratigraphy

    Exploration 3 distinct mineralised trends in For personal use only favourable stratigraphy 3  Over 20km of accessible strike length, with less than half drilled to date. 2  Uranium targets generated through RadonXTM and radiometric surveys.  Drilling program for 2011 of 10,000-15,000 metres: 1. E

  20. Slide 20: The Etango Advantage – Simple, Big & Accessible

    The Etango Advantage – Simple, Big & Accessible For personal use only Scale & Longevity  212Mlbs U3O8 and 5-7 Mlbs per annum.  +20 year mine life. Low sovereign risk  Politically stable with established mining legislation.  35 year history of uranium mining and exporting.  Established infrastru

  21. Slide 21: www.bannermanresources.com

    www.bannermanresources.com For personal use only Right Place • Right Scale • Right Team

  22. Slide 22: Mineral Resource Statement

    APPENDIX Mineral Resource Statement As at May 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 Infer

  23. Slide 23: Cash Operating Costs

    APPENDIX Cash Operating Costs 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 acid costs (~9% of Proc

  24. Slide 24: Pre-production Capital

    APPENDIX Pre-production Capital Pre-Production Capital Cost 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 accuracy -10% to +25%.

  25. Slide 25: Dynamic on/off Heap Leach Pad

    APPENDIX Dynamic on/off Heap Leach Pad Proven in large, low grade copper operations in South America For personal use only Dynamic on/off pad Stacking and reclaiming “Racetrack” end Central conveyors Stacker Reclaim bucket wheel 25

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