Deep Yellow Response To Namibia Media Article
Perth, May 30, 2023 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) refers to an article titled "Namibia considers taking stakes in Mining and Petroleum Companies" that appeared yesterday on the Bloomberg newswire service.
Deep Yellow interreacts constantly with relevant Government Ministries and Departments and advises that it is not aware of any elevated discussions with industry regarding Government equity in mining projects. In Deep Yellow's experience, all matters affecting the Namibian mining industry are consistently dealt with through the Chamber of Mines, of which Deep Yellow is an active member, and are worked through with Government using a detailed and orderly process involving proposals, submissions, discussions and negotiations that have invariably resulted in mutually acceptable outcomes.
Deep Yellow, through its extensive experience operating in Namibia, has deep confidence that the Namibian Government fully understands the value of foreign investment. Deep Yellow also recognises and accepts the need for local ownership and, as previously reported, has between 5% and 10% of its various projects held by local Namibian equity partners, including the Tumas Uranium Project.
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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