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Bannerman updates Etango DFS

ASX-listed Bannerman Resources will update the definitive feasibility study (DFS) for its Etango uranium project, in Namibia, following the conclusion of the heap leach demonstration plant programme.

“Our two-year commitment to the Etango demonstration plant programme has been a remarkable success. Not only have we consolidated Etango’s position as one of the most advanced large uranium projects globally, but we have also generated substantial opportunities to enhance and further de-risk the project,” said Bannerman CEO Brandon Munro.

The updated DFS will target capital and operating cost reductions, with the demonstration plant providing evidence for improved recovery and reagent assumptions.

Based on average yearly production of 7.2-million pounds of uranium oxide over an initial mine life of 15.7 years, the Etango project is expected to have a net present value of $419-million and a post-tax internal rate of return of 15%.

The previous DFS estimated that the project would cost about $870-million to develop.

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