Bannerman Energy Building One of Worlds Largest Uranium Assets in Resurgent Demand Market

• Bannerman Energy has one of the world's largest undeveloped uranium projects in Namibia with 220 million pounds of uranium resources.
• The project has strong economics with an initial 15-year mine life, low operating costs, and a favorable uranium price outlook.
• Namibia offers an ideal location with existing uranium mining infrastructure and supportive policies.
• Bannerman has a skilled management team with uranium development experience and $40 million in cash to fund development.
• The project can supply 6-8 nuclear reactors and displace 25 million tons of coal per year.

Bannerman Poised to Supply Surging Uranium Demand

With uranium prices surging, Bannerman Energy is ready to capitalize with one of the world’s most advanced undeveloped uranium projects. Located in the proven mining jurisdiction of Namibia, Bannerman’s Etango project boasts 220 million pounds of uranium resources, with low operating costs projected to deliver strong investor returns.

As CEO Brandon Munro touted, “it’s one of the world's largest and most advanced uranium development projects”.

With an initial 15-year mine life already greenlit, Etango can swiftly enter production to supply utilities seeking to lock in long-term uranium contracts. As Munro stated triumphantly, “It’s a great time to be alive as a uranium CEO. And an even better time to be a uranium investor”.

An Ideal Location

Unlike projects facing greater uncertainty in newer mining areas, Namibia offers an established uranium exporting industry dating back over 45 years. Neighbouring mines have operated successfully for decades, providing Etango with turnkey access to trained workers and modern mining infrastructure.

As Munro emphasised, "Namibia is the ideal place to develop a greenfields uranium project," given its extensive track record as a uranium producer."

Equally important is Namibia’s supportive public and regulatory environment. As Munro highlighted, “The community is highly supportive...in absolute stark contrast to the challenges we've been talking about in Western Australia today”.

Competitive Economics

With $35/lb projected cash costs under its definitive feasibility study, Etango offers bottom-quartile production costs that maximize leverage to rising uranium prices.

“Every single dollar that you add to that goes straight to our bottom line,” Munro explained, noting the company’s attractiveness for investors seeking uranium price upside.

At $65/lb uranium, Etango still produces a post-tax NPV of USD$209 million and an IRR of 17%. However, with many analysts now forecasting $80/lb and beyond, Etango’s value proposition shines brightly for investors. The NPV leaps to USD$435 million, 24.6% IRR and pay back in less than 3 years. In Munro's words, "That makes us, for an AUS$400 million company, exceptionally well leveraged".

De-Risked Development Plan

After 18 years focused on systematic de-risking, Bannerman has checked all the right boxes on Etango’s path to production. Rigorous test work has proven specialised heap leaching processes that unlock the project’s value. Environmental approvals are in place, while a mining license application advances.

As Munro stated, “We’ve got all of the ESG buckets boxes ticked and we filled the sustainability buckets well and we’ve got a skilled delivery team”. With $40 million in cash and no debt, Bannerman is fully funded through construction.

Supplying Tomorrow's Nuclear Growth

Positioned to supply 6-8 conventional reactors producing carbon-free baseline power, Etango carries major ESG credentials as well. Displacing 25 million tons of coal per year while creating jobs for Namibians, Etango ticks all the boxes for sustainable natural resource development.

In Munro's words, “Even though Namibia has a tiny population, we’ve got an ample Workforce of well trained of local Namibians that we can draw from when we’re ready to start employing for our mine.”

With fundamentals aligned across operational, financial and social spectra, Bannerman Energy affords investors an ideal vehicle to capitalise on the accelerating uranium bull market.

Investment Thesis for Bannerman Energy

• Large low-cost de-risked uranium projects levered to rising uranium pricing
• Expert mining team with a track record of successful uranium development
• Cash-flush with $40M to fund construction and near-term production
• Located in safe, stable, supportive uranium mining jurisdiction
• Supplies clean energy fuel for next-generation nuclear reactors
• Offers robust ESG credentials with jobs, energy access and GHG reductions

In summary, with its advanced Etango uranium project primed to feed surging uranium demand for decades to come, Bannerman Energy presents investors with a timely opportunity to stake low-cost pounds in the ground ahead of the next leg higher in the unfolding uranium bull run.