VBKOM was contracted by Bannerman Resources Limited (“Bannerman”) to update a 2013 feasibility study (DFS) mining study (the study) for their Etango Uranium Project (“the project”) in Namibia.

The battery limits were the Oshiveli, Onkelo and Anomaly A deposits.

The study was based on the ordinary kridged resource model including inferred resources that was developed in 2010.

The final analysis of the study was based on owner mining to an order of accuracy of 10 – 15%.

The focus of the project comprised the Onkelo, Anomaly and Oshiveli prospects, located approximately 41km (By road) east of the major town of Swakopmund and 47km North East of the port town of Walvis Bay.

Eduan Pieterse (Risk and Project Manager); Werner Moeller (Principal); Renier Visser; Wynand Botes (Principal); Barend Steyn (Mining Consultant) and Lehlohonolo Lehasa (Mining consultants) were the mining consultants involved in this project.