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Bannerman Resources Ltd.
Summary
| Project: | Etango | |
|---|---|---|
| Deposit: | Etango | |
| Location: | Namibia | |
| Commodities: | Uranium | |
| Date: | 11/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Mine Development | |
| Report details: | 9-11-2017: Bannerman Resources Ltd. announces a Optimisation Study report for its Etango deposit at the Etango project. Optimisation study results incl. CAPEX reduced by US$73M. Bannerman Resources Limited (ASX:BMN; NSX:BMN) (“Bannerman” or the “Company”) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Bannerman Resources Limited (ASX:BMN; NSX:BMN) (“Bannerman” or the “Company”) is pleased to announce the successful completion of the Etango Processing Optimisation Study (“Processing OS”) by its independent technical consultants, AMEC Foster Wheeler. The Processing OS is the first completed stage of the Etango DFS Update and, together with extensive confirmatory test-work, maintains Etango’s position at the forefront of the global uranium development pipeline. Bannerman’s 95% owned Etango Project is one of the largest and most advanced uranium projects globally. Etango is located within the Erongo uranium province of Namibia, which also hosts the Rössing (Rio Tinto), Langer Heinrich (Paladin Energy) and Husab (China General Nuclear) uranium mines. Exploration at the Etango project commenced in 2006 followed by completion of a Scoping Study in 2007, Pre-Feasibility Study (PFS) in 2009, PFS Update in 2010, Definitive Feasibility Study (DFS) in 2012 and an Optimisation Study (mining) in 2015. In 2010, Environmental Approval of the proposed Etango mine was granted following completion of an Environmental and Social Impact Assessment. In 2017 a Mineral Deposit Retention Licence was granted over the project, with a 5 year tenure that may be extended. The Etango Heap Leach Demonstration Plant was constructed in 2014, following which the Company ran a six-phase pilot program that concluded in January 2017. | |
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