December 2022 Quarterly Activities Report
Perth, Jan 27, 2023 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to provide an update on key activities completed in the December quarter.
HIGHLIGHTS
- Tumas Project (Tumas) - Definitive Feasibility Study (DFS) completed and draft document under internal review by management and Board. DFS remains on schedule for completion in February 2023.
- Mulga Rock Project (MRP) - Program progressing to assess potential Project value-uplift by evaluating recovery of critical minerals.
- Alligator River Project (ARP)- Sampling and density determinations in support of Mineral Resource update completed.
- Omahola Basement Project (Omahola) - Completion of two-stage, 10,000m follow-up RC drill program, with positive results delivered and 3 new targets identified.
- Appointment of experienced resources and energy executive Ms Victoria Jackson as independent Non-Executive Director.
- Strong balance sheet with cash of $56 million.
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/M21XB05W
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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