By Hilary Mare
BANNERMAN Resources Limited non-executive director, David Tucker, has advised the firm of his intention to step down at the company’s annual general meeting in November.
Tucker has served Bannerman in his current role since March 2008.
Over this time, his combined 40 years of experience as an exploration geologist, and in senior corporate affairs, has provided critical insights for the company, to the benefit of all stakeholders.
Tucker was also instrumental in laying a strong foundation for the company in Namibia, by providing hands-on assistance with community relations and instilling the open and transparent approach to community engagement, for which Bannerman remains well-regarded.
Bannerman Chairman, Ronnie Beevor, acknowledged Tucker’s extensive involvement. “David has made an outstanding contribution to Bannerman and its Etango Uranium Project over his journey with the company. Amongst many things, he can take significant credit for the foundational strength of Bannerman’s local stakeholder relationships in Namibia. I would like to take this opportunity to thank David for his hard work and diligence, on behalf of the company, and to wish him all the very best for his future endeavours,” Beevor said.
Tucker expects to continue dedicating a substantial amount of his time to Bicycles for Humanity, of which he is the Western Australian (WA) Chapter Chairman.
This is set to maintain his connection with Namibia, where the WA Chapter has sponsored several Bicycles for Humanity community centres.
Bannerman Chief Executive Officer, Brandon Munro, said that the company remains committed to strong corporate governance principles, and an enduring process of board renewal.
“Tucker’s resignation and the fairly recent appointment of Mike Leech as a non-executive director of Bannerman, and the chairman of the company’s Namibian subsidiary, are in line with this commitment,” Munro said.
Bannerman Resources Limited is an ASX and NSX listed exploration and development company, with a 100 percent interest in the Etango Uranium Project in Namibia
Etango is one of the world’s largest undeveloped uranium projects. It is one of the few uranium projects in the world with a completed Definitive Feasibility Study (DFS) and an environmental permit, and will be a top 10 producer once developed.
Based on the DFS, production is expected to be 7 to 9 million pounds U3O8 per year for the first five years and 6 to 8 million pounds per year thereafter. It will have a minimum mine life of 16 years, with significant expansion potential through the conversion of the existing inferred resource, as well as the deposit being open at depth and along strike.
Etango is considered by Bannerman to be a low technical and environmental risk project, with conventional open pit mining and sulphuric acid heap leaching at 20 million ton per annum.
The Etango licence area (EPL 3345) is approximately 500 square kilometres.
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