Bannerman Energy Ltd - BNNLF stock
Introduction[edit]
A uranium development business called Bannerman Energy Ltd. (OTC: BNNLF, ASX: BMN) is traded on the OTCQX Market in the US and is listed on the Australian and Namibian stock exchanges. The Etango Uranium Project, which is 95% owned and is situated in Namibia's Erongo Region, is the company's most prominent asset. After the balance date, Bannerman acquired a 41.8% stake in Namibia Critical Metals Inc, the company behind the fully authorized Lofdal Heavy Rare Earths Project, one of the few outsides of China that has the potential to produce significant amounts of dysprosium and terbium in the future.[1]
Since 2006, Etango has profited from intensive exploration and feasibility work and has a sizable worldwide uranium mineral resource1. A Definitive Feasibility Study (DFS) was finished in 2012 for a 20Mtpa development at Etango, and a DFS Optimisation Study was finished in 2015. At Etango, Bannerman built and ran a Heap Leach Demonstration Plant that reduced the danger of using the acid heap leach technique on the ore there.[1]
Having produced and exported uranium for 45 years, with first-rate infrastructure and community and governmental backing for uranium mining, Namibia is a leading uranium investment jurisdiction. Namibia, the fourth-largest uranium producer in the world, is a prime location for development due to its political stability, security, the robust rule of law, and aggressive economic ambition. Based on a 12-year environmental baseline, Etango has received environmental approvals for the proposed and external mine infrastructure.[1]
Bannerman has long been acknowledged as a pioneer in governance, social responsibility, and uranium mining in the uranium and nuclear energy sectors (ESG). The pre-Feasibility Study (PFS) for Etango-82 was finished in August 2021. According to the PFS, this expedited, streamlined project is highly receptive to development on both a technical and financial level. A DFS on Etango-8 progresses well; completion is anticipated in Q4 of 2022.[1]
Projects[edit]
Etango Project[edit]
Thirty kilometers southeast of Swakopmund in Namibia's Erongo Region is the Etango Uranium Project. It has 207 Mlbs of contained U3O8 in uranium ore resources. In the previous 15 years, a lot of exploration and feasibility work has been conducted at the site. Comprehensive feasibility studies for the large-scale development were undertaken in 2012 (Definitive Feasibility Study) and 2015 (DFS Optimisation Stud).[2] Environmental permits for the proposed mine have been secured.[3]
They finished building their Etango Heap Leach Demonstration Plant in 2015 and operated as a test plant until 2020. The Demonstration Plant's operation completely reduced the risk associated with the heap leaching processing method for Etango, allowed for optimizing the processing parameters, and produced a sizable database of processing information.[2]
They finished a Scoping Study on the development of Etango at an 8Mtpa throughput rate in August 2020. (Etango-8). The extensive study work carried out across all pertinent disciplines as part of the DFS 2012 and the OS 2015 and the Heap Leach Demonstration Plant operation substantially influenced the Etango-8 Scoping Study. The Scoping Study showed how significantly technological and economic progress could benefit from this expedited, streamlined undertaking.[2]
They finished a Pre-Feasibility Study (PFS) on Etango-8 in August 2021. The world-class Etango deposit's conventional open pit mining and heap leach processing at 8Mtpa throughput has been proven highly technical and economically viable by the PFS. Through the PFS phase, the level of planning rigor for Etango-8 has been strengthened by adding multiple pit ramps in the northern and central pits, a thorough plant design, and more precise estimating.[2]
Mining License[edit]
In December 2023 Bannerman was granted a mining license from the Namibian Ministry of Mines and Energy, which has enabled the company to award two works contracts for building a temporary construction water supply and a road to reach the site. The contacts total $2,000,000 and were awarded to a Namibian construction firm.[4]
Location and Infrastructure[edit]
With the proposed building of a spur road to the site, parallel to the water pipeline and power line services path, Etango is located about 10 kilometers south of Swakopmund on the C28 road. A projected 29 km, 132kV connection from the Kuiseb substation will supply power from the grid. Over the past five years, NamPower (a national utility) has made major improvements to power generation and distribution infrastructure. The pipeline and pumping route from NamWater's Base Reservoir in Swakopmund will be used to obtain water. NamWater is the national water utility corporation. Since more than 40 years ago, the port of Walvis Bay has served as a major uranium export hub for Class 7 cargo. Bannerman intends to use the facility's regulated areas that have been set aside, particularly for uranium export.[2]
Awards and Partnerships[edit]
Awards[edit]
Bannerman was nominated as a finalist for the AAMEG (Australia-Africa Minerals & Energy Group) Africa Award for Best Workforce and Industry Development Initiative, recognizing our work with the Namibia Tourism Industry.[5]
Partnerships[edit]
Since 2008 Bannerman has worked with key bodies within the Namibian Tourism industry to demonstrate that the Mining and Tourism sectors can co-exist and work together for the benefit of the Namibian nation. Its objectives were direct (achieving authentic support for Etango) and indirect (uplifting the Namibian nation via the Tourism sector through boosting employment, skills training, awareness, and tourism sales).[5]
Directors & Management[edit]
Brandon Munro - Chief Executive Officer and Managing Director[edit]
As a corporate lawyer and resources executive with more than 20 years of experience, Brandon served as Bannerman's General Manager from 2009 to 2011, stationed in Namibia. In 2016, Brandon was appointed CEO of Bannerman. Along with acting as the Namibian Uranium Association's Governance Advisor, the Namibian Chamber of Mines' Strategic Advisor - Mining Charter, and a Trustee of the Save the Rhino Trust Namibia, a well-known Namibian NGO, Brandon lived in Namibia for more than five years between 2009 and 2015. Being a Co-Chair of the World Nuclear Association's Nuclear Fuel Demand working group and a knowledgeable resource on uranium for the UN Economic Commission for Europe, Brandon is a well-known thought leader in the uranium industry. Board positions in the education, arts and conservation sectors have been a part of Brandon's volunteer work.[6]
Steve Herlihy - CFO and Company Secretary[edit]
Mr. Herlihy has been a Chartered Accountant for more than 30 years. He has held several positions within BHP Limited over his extended career in the resources sector, starting as the company's global financial controller for BHP Iron Ore before moving on to special project duties. More recently, he served as a partner of a top-ten global accounting network-affiliated national accounting and advising business. Mr. Herlihy has extensive, practical experience in M&A transactions and project finance. His extensive transactional experience includes everything from leading commercial responsibilities on large-scale global deals to negotiating modest joint venture agreements. Mr. Herlihy is a graduate of Curtin University's Bachelor of Business (Accounting) program, the Financial Services Institute of Australia's Graduate Diploma in Applied Finance and Investment, and Deakin University's Masters of Business Administration (MBA).[6]
- ↑ 1.0 1.1 1.2 1.3 Bannerman Energy. Who We Are. Retrieved On 12/18/2022.
- ↑ 2.0 2.1 2.2 2.3 2.4 Bannerman Energy. Etango Project. Retrieved On 12/18/2022
- ↑ weblink.com.au. Bannerman Energy Quarterly Activities Report FOR THE PERIOD ENDED 31 DECEMBER 2023. January 23, 2024.
- ↑ World-Energy. Bannerman Granted Mining Licence for Etango. December 16, 2023.
- ↑ 5.0 5.1 Bannerman Energy. B/annerman and the Namibian Tourism Sector. Retrieved on 12/18/2022.
- ↑ 6.0 6.1 Bannerman Energy. Directors Management. Retrieved on 12/18/2022.
OTC Symbol: BNNLF | OTC Tier: OTCQX International
