Positive Final Investment Decision for Etango Mine

• Positive Final Investment Decision (FID) taken on the Etango Uranium Project.
• Commissioning and first production expected in 2028.
• Danie van Aswegen appointed as CEO of Bannerman Mining Resources Namibia.

Bannerman Energy Ltd (ASX:BMN) has announced a positive Final Investment Decision (FID) for its Etango Uranium Project in Namibia. The Etango Joint Venture, in which Bannerman holds a 55% interest, has decided to proceed with the full-scale construction of the project. The project is expected to produce an average of 3.5 million pounds of U3O8 annually. Commissioning and first production are scheduled for 2028. The project's pre-production capital expenditure is approximately US$353 million, with Bannerman's share fully funded. Danie van Aswegen has been appointed as CEO of Bannerman Mining Resources Namibia.