Bannerman Energy Ltd

Etango has benefited from extensive exploration and feasibility activity since we listed as a public company on the Australian Securities Exchange (ASX) in 2005. The Etango tenements possess a globally large-scale uranium mineral resource. A 20Mtpa development at Etango was the subject of a Definitive Feasibility Study (DFS) completed in 2012 and a DFS Optimisation Study completed in 2015. We constructed and operated a Heap Leach Demonstration Plant at Etango, which comprehensively de-risked the acid heap leach process to be utilised on the Etango ore.

Namibia is a premier uranium investment jurisdiction, with a 45-year history of uranium production and export, excellent infrastructure and support for uranium mining from both government and community. As the world’s fourth largest producer of uranium, Namibia is an ideal development jurisdiction boasting political stability, security, a strong rule of law and an assertive development agenda.

Etango has all environmental approvals for the proposed mine and external infrastructure, based on a 12-year environmental baseline. We are a socially responsible leader within Namibia and exercise best-practice governance in all aspects across our business.

In August 2020, we completed a Scoping Study on an 8Mtpa development of Etango (Etango-8 Project). The Scoping Study has demonstrated that this accelerated, streamlined project is strongly amenable to development – both technically and economically. A Pre-Feasibility Study on the Etango-8 Project is approaching completion with release expected in the third quarter of 2021.