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BANNERMAN RESOURCES LIMITED

ASX: BMN

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Bannerman Resources Limited is an emerging uranium development company with interests in uranium exploration and development properties in Namibia and Botswana, southern Africa. BMN's principal and most significant asset is a 100% per cent interest in the Etango Project, located near the western coast of Namibia, southern Africa.

Bannerman offers investors access to a uranium project of extraordinary scale. The fully owned Etango Project is one of the world's largest undeveloped uranium deposits, boasting a total resource of 2004 JORC Code and NI 43-101 compliant Ore Reserves totalling 279.6 million tonnes at an average grade of 194ppm U3O8 for 119.3 Mlbs of contained U3O8

Etango is one of the few uranium projects in the world with a completed Definitive Feasibility Study (DFS) and environmental permitting and will be a top 10 producer once developed.

Based on the DFS, production is expected to be 7-9 million pounds U3O8 per year for the first five years and 6-8 million pounds U3O8 per year thereafter. It will have a minimum mine life of 16 years with significant expansion potential through the conversion of existing Inferred Resource as well as the deposit being open at depth and along strike. Cash operating costs of US$41/lb U3O8 in the first 5 years and US$46/lb U3O8 over the life of mine

Etango is considered by Bannerman to be a low technical and environmental risk project, with conventional open pit mining and sulphuric acid heap leaching at 20 million tonnes per annum.

The Etango licence area (EPL 3345) is approximately 500 square kms.

Bannerman also has extensive landholdings in prime uranium exploration areas.

Swakop River

The Swakop River Project area is located in the Erongo region of central coastal Namibia, approximately 67 kilometres east of the town of Swakopmund. The Swakop River mineral licence, EPL 3346, surrounds Paladin Energy Limitedís Langer-Heinrich uranium mine on three sides. The Langer-Heinrich licence area contains an extensive palaeochannel with carnotite mineralisation in calcrete and channel sediments. Limited exploration drilling has been completed within the Swakop River Project area.

Botswana

Bannerman Resources controls three prospecting licences for uranium, precious metals, base metals and platinum group minerals in Botswana. These licences are referred to as the Serule South, Serule North and Dukwe licences and are located in the Foley and Sua Pan regions in Botswana (131/2005 to 133/2005). The tenements total approximately 2300 square kilometres. The results of the initial aerial survey ad reconnaisance drilling are under review and drilling programs for 2010 are being prepared.

Mine For

uranium

Location of operation(s)

Botswana, Namibia

Address

Se 18, Level 1, 531 Hay St
SUBIACO, WA, AUSTRALIA

Phone

(08) 9381 1436

Email

Website


Last Updated

05/04/2016

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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