Appoints Head of Business Development
Perth, May 7, 2021 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to announce the appointment of Andrew Mirco as the Company's Head of Business Development.
Mr Mirco is an experienced corporate finance and business development executive, with a successful and proven background in financing, M&A, and risk management. Through his time at Paladin Energy Limited he worked closely with the current Deep Yellow management and technical team, and will bring the extensive uranium experience and knowledge gained during this time to this role.
Mr Mirco spent over ten years at Paladin (2008-18) holding senior roles in both Treasury and Corporate Development. He played an integral part in the inorganic growth of Paladin in the latter years, leading to execution of M&A opportunities and asset sales. In addition, Mr Mirco led the project debt financing for Paladin's mine developments.
At Deep Yellow, Mr Mirco will be responsible for advancing the Company's inorganic pillar of its growth strategy, working in close association with Managing Director and CEO John Borshoff. He will be focusing on targeted and advanced M&A opportunities to establish a project pipeline for future development. Successful delivery of this objective will play a key role in delivering the Company's strategic goal of establishing a multi-platform, 5-10Mlb pa, lowcost uranium producer.
Mr Mirco will also be responsible for leading and progressing development funding as the Company's Namibian flagship Tumas Project advances with its DFS currently underway. In this regard he will be involved in securing the project financing required to transition the Project into production.
Commenting on the appointment of Mr Mirco, Deep Yellow Managing Director and Chief Executive Officer said: "Andrew is well-known and highly-regarded by the management and technical team of Deep Yellow and industry peers. We are fortunate he has accepted the role of Head of Business Development for the Company.
Andrew will spearhead our efforts on executing advanced M&A opportunities to establish a project pipeline for Deep Yellow and, at the appropriate time, will also be responsible for securing project financing for Tumas, to ensure development of this exciting project remains on track.
The time to act on the M&A front is now and we need to deliver on our stated objectives and, together with development of the Tumas Project, place the Company in a strong position ahead of the looming supply shortage forecast for the post-2023 period."
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
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