Overview of Bannerman Energy's Scoping Study for Etango Uranium Project

Bannerman Energy Ltd (ASX: $BMN) has concluded a Scoping Study assessing potential higher throughput and extended operating life scenarios for its Etango Uranium Project in Namibia. The study, which evaluated two future phase options, namely a post ramp-up expansion in throughput capacity to 16 Mtpa (Etango-XP) or an extension of operating life to 27 years (Etango-XT), is based on low accuracy level technical and economic assessments. The outcomes of the study do not support the estimation of Ore Reserves but demonstrate the potential technical and economic viability of subsequent expansion and/or life extension options for Etango post successful construction and ramp-up of Etango-8.

Executive Commentary on Scoping Study

The completion of the Scoping Study provides valuable insights into the potential future development options for Bannerman's Etango Uranium Project, demonstrating the company's commitment to maximizing the value of its flagship asset.

Comprehensive Overview of Scoping Study Report

Bannerman Energy Limited's Scoping Study Report for the Etango XP and XT Concept Study focuses on the economic evaluation of an open pit mining operation with processing undertaken by heap leach methods at an assumed nominal throughput rate of 8Mtpa for the DFS base-case and Etango-XT, and 16Mtpa throughput for Etango-XP. The study includes key financial metrics forecast for each scenario, net present value (NPV), internal rate of return (IRR), and annual and cumulative cash flows. It also outlines project risks and opportunities, as well as the reasonable basis for funding and assumptions. The report provides a comprehensive analysis of the mining and processing costs, funding alternatives, and Mineral Resource Estimates, offering valuable insights into the economic evaluation and viability of the Etango XP and XT Concept Study.