Etango 8 proves up for Bannerman

PERTH (miningweekly.com) – A definitive feasibility study (DFS) into the Etango 8 uranium project, in Namibia, has confirmed the project’s economic viability, ASX-listed Bannerman Energy said.

Based on a nameplate capacity of eight-million tonnes a year, the Etango project is expected to have a mine life of 15 years, producing 52.6-million pounds of uranium oxide, averaging 3.5-million pounds a year. The DFS estimated a preproduction capital expenditure (capex) of $317-million, up from the $274-million estimated in the 2021 prefeasibility study (PFS), while all-in sustaining costs (AISC) for the project have dropped from the $40.3/lb estimated in the PFS to $38.10/lb.

The project’s net present value (NPV) is now estimated at $209-million, down from the $222-million estimated in 2021, while the internal rate of return has also decreased from 20.3% to 17%. The DFS was based on a uranium price of $65/lb.

“The DFS has confirmed, to a definitive level of study, that […]

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