Bannerman Energy Ltd (BMN) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon everyone and welcome to the Bannerman Energy March 2026 quarterly update webinar. We've just got a few people dropping in but we'd like to thank you all for joining us today. We are joined by our MD and CEO Gavin Chamberlain today for the webinar and for this update in what has been a very transformational quarter for us at the company. So I'm going to share my screen. and hand over to Gavin so we can go through all of the highlights for the quarter. Assume you can all see that, Gavin? You've got that coming through? Yeah, no problem. Thanks, Emma. Morning all and welcome to this quarterly update. It really has been a transformational quarter for us as Emma said. So we've seen the successful conclusion of a really important deal for ourselves. We've spent the last two years going through a strategic funding process and this year we saw the successful conclusion of a strategic financing deal. The deal with CLNC Overseas Limited sees them putting in an investment of up to $321.5 million. And that's broken up into two different numbers. The one number is a straight payment of $294.5 million. which is for them to buy their 45% share, and then they will also reimburse the current capital work that is ongoing on site from the 1st of July until the completion of the deal. And the combination of those two aspects gives us the $321.5 million. For that, they will get a 45% interest in Bannerman UK subsidiary, which in turn owns 95% of the Otango project. The completion is basically targeted for mid-2026 with the FID following shortly thereafter. And while this is all going on, the capital work on site is continuing in line with the project schedule and allows us to continue along the track of actually getting to final completion and commissioning of the plant in...