|Bid||0.1450 x 165852600|
|Ask||0.1500 x 64701400|
|Day's range||0.1400 - 0.1500|
|52-week range||0.0260 - 0.1650|
|Beta (5Y monthly)||2.30|
|PE ratio (TTM)||N/A|
|Earnings date||12 Mar 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.18|
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
PERTH, Australia, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Bannerman Resources Limited (ASX:BMN, OTCQB:BNNLF, NSX:BMN) (Bannerman or the Company) is pleased to advise of the completion of a Scoping Study for an 8Mtpa development of its flagship Etango Uranium Project in Namibia (Etango-8 Project). KEY OUTCOMES * Primary outcome of recent scaling evaluation work on Etango; provides an alternate, streamlined development model to the 20Mtpa development assessed to DFS level in 2015 * Demonstrates the strong technical and economic viability of conventional open pit mining and heap leach processing of the world class Etango deposit at 8Mtpa throughput * Life-of-mine (LOM) production of 51.1 Mlbs U3O8 (48.5 – 53.7 Mlbs) with annual average production of 3.5 Mlbs U3O8 (3.4 – 3.7 Mlbs) * Forecast pre-production capital expenditure of US$254M (US$241 – 267M), delivering an attractive upfront capital intensity of approx. US$71/lb average annual U3O8 production * Life-of-mine of approx. 14 years (114.1 Mt plant feed at 232 ppm U3O8) * Average final product cash operating cost (ex-royalties) of US$37/lb U3O8 (US$36 – 39/lb) * Attractive projected economics at forecast US$65/lb U3O8 realised price: ° Ungeared, real, post-tax NPV8% of US$212M (US$201 – 223M) ° Post-tax internal rate of return (IRR) of 21.2% (20.1 – 22.3%) and payback of 3.6 years ° Forecast net project cashflow (post-capex, post-tax) of US$604M (US$574 – 634M) * Further upside potential from: ° Future life extension and/or scale-up expansion ° Additional processing efficiency and cost opportunities * Vast body of previous technical work enables fast-tracking of feasibility studies; all resource drilling, geotechnical, metallurgical and environmental work already complete * Heap leach process route has also been comprehensively de-risked via operation of the Etango Heap Leach Demonstration Plant * Bannerman Board has approved commencement of a Pre-Feasibility Study (PFS) with completion targeted for Q2 2021 * Long-term scalability of Etango Project (up to 20Mtpa) confirmed by previous definitive level studies; provides strong optionality and leverage to upside-case uranium market Commenting on the Etango-8 Scoping Study results, Bannerman Chief Executive Officer, Brandon Munro, said: “Last year we commenced a review of various project scaling opportunities that might exist for the Etango Project. This Etango-8 Scoping Study represents the successful culmination of that work.“Developing the world-class Etango Project at an initial 8Mtpa throughput offers significant advantages. It sharply reduces the upfront capital and funding hurdle compared to that associated with the original 20Mtpa Etango development evaluated in the DFS in 2012, and the DFS Optimisation Study in 2015. It also enables us to predominantly mine shallower, higher-grade ore, which significantly reduces stripping and lifts the average feed grade to the processing facility. The combined result is that the upfront capital intensity of the Etango Project per pound of annual production capacity has fallen materially whilst maintaining robust project economics.“The Etango-8 Project is expected to deliver over 3.5Mlbs U3O8 per annum over an initial operating life of more than 14 years. This may be a reduced scale compared with the original Etango, but it is still a world-class uranium project and amongst the largest development projects in the sector. With a post-tax IRR north of 20%, the Etango-8 Project delivers attractive projected investment returns on a lower initial capital, funding and development risk profile.“Importantly, while the Etango-8 Project provides a reduced scale of production entry, it does so without removing the option of subsequent expansion, including to the originally envisaged 20Mtpa Etango scale. In short, the scalability of the world class Etango resource remains robust even with a more modular approach to development of the project.“We are now proceeding to undertake a PFS on the Etango-8 Project. This process will benefit significantly from the fact that the Etango Project has already been the subject of a definitive level of feasibility study, at a larger scale, in recent years. As a result, we are targeting completion of a comprehensive PFS in Q2 2021.”The full announcement, including cautionary statement, is available here.This ASX release was authorised on behalf of the Bannerman Board by:Brandon Munro, Chief Executive OfficerCONTACT DETAILS:Brandon Munro Chief Executive Officer +61 8 9381 1436 email@example.com
PERTH, Australia, July 30, 2020 (GLOBE NEWSWIRE) -- Bannerman Resources Limited (ASX:BMN, OTCQB:BNNLF, NSX:BMN) (“Bannerman” or “the Company”) is pleased to report on a productive quarter in which Bannerman has further advanced key optimisation opportunities at its Etango Uranium Project in Namibia, during a period of supply disruption in the uranium market.HIGHLIGHTS * Etango Uranium Project scaling opportunities advanced ° Etango Project optimisation continued during the quarter with focus on the evaluation of project scaling and scope opportunities under various development parameters and market conditions * Membrane Study Testwork was successfully completed during the quarter ° Confirms substantial economic and operational advantages, including over 80% acid recovery from the concentrated eluate stream of the Ion Exchange (“IX”) plant ° Excellent results confirm optimised flowsheet consists of IX followed by iron reduction before Nano-Filtration (“NF”) ° Design of NF plant now complete to definitive level * COVID-19 continued to impact 2020 uranium production ° Kazatomprom suspended non-essential operations, including well-head development, at all uranium mines in Kazakhstan, the world’s largest uranium producer. Kazatomprom advised that the disruption continued beyond the initially announced three month period. Activities are planned to resume in the September quarter at a staged and gradual pace. ° The Cigar Lake uranium mine remained in care and maintenance after Cameco advised during the quarter that an initial four week shut-down would continue for an “indeterminate period”. Mining is planned to resume in September. ° Lock-downs and other COVID-19 control measures have continued to present operational challenges at other uranium mines. * Strong cash balance of A$4.2m at quarter end Bannerman’s Chief Executive Officer, Mr Brandon Munro, said, “The deepening of the uranium supply deficit from ongoing COVID-19 disruptions continues to position the sector for a significant and sustained recovery. With nuclear fuel buyers focusing on their own operational challenges during the pandemic, the price response has been modest thus far, emphasising the underlying rationale for Bannerman’s fiscal discipline and strong cash balance. We continue to add real value to Bannerman’s advanced Etango uranium project as we observe the progressive improvement in market fundamentals.”This announcement was authorised to be issued by the Board of Directors For further information please contact:Brandon Munro Chief Executive Officer Perth, Western Australia Tel: +61 (8) 9381 1436 firstname.lastname@example.org Rob Orr Company Secretary Perth, Western Australia Tel: +61 (8) 9381 1436 email@example.com Michael Vaughan (Media) Fivemark Partners Perth, Western Australia Tel: +61 422 602 720 firstname.lastname@example.org About Bannerman - Bannerman Resources Limited is an ASX and NSX listed exploration and development company with uranium interests in Namibia, a southern African country which is a premier uranium mining jurisdiction. Bannerman’s principal asset is its 95%-owned Etango Project situated near CNNC’s Rössing uranium mine, Paladin’s Langer Heinrich uranium mine and CGNPC’s Husab uranium mine. A definitive feasibility study has confirmed the viability of a large open pit and heap leach operation at one of the world’s largest undeveloped uranium deposits. From 2015 to 2017, Bannerman conducted a large scale heap leach demonstration program to provide further assurance to financing parties, generate process information for the detailed engineering design phase and build and enhance internal capability. More information is available on Bannerman’s website at www.bannermanresources.com. Forward Looking StatementsThe information in this announcement is not intended to guide any investment decisions in Bannerman Resources Limited. This material contains certain forecasts and forward-looking information, including possible or assumed future performance, costs, production levels or rates, reserves and resources, prices and valuations and industry growth and other trends. Such forecasts and information are not a guarantee of future performance and involve many risks and uncertainties, as well as other factors. Actual results and developments may differ materially from those implied or expressed by these statements and are dependent on a variety of factors. The Company believes that it has a reasonable basis for making the forward looking statements in the announcement, based on the information contained in this and previous ASX announcements.Bannerman is not aware of any new information or data that materially affects the information included in this ASX release, and Bannerman confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the estimates in this release continue to apply and have not materially changed.Competent Person’s StatementThe information in this announcement as it relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Mr Marthinus Prinsloo. Mr Prinsloo is a full time employee of Bannerman Resources Limited and is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Prinsloo has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activities, which he is undertaking. This qualifies Mr Prinsloo as a “Competent Person” as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and a Qualified Person as defined by Canadian National Instrument 43-101. Mr Prinsloo consents to the inclusion in this announcement in the form and context in which it appears. Mr Prinsloo holds shares and performance rights in Bannerman Resources Limited.