Half-Year Financial Report - 31 December 2023
Perth, Mar 14, 2024 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is a differentiated, advanced uranium exploration company, in pre-development phase, implementing a dual strategy to position the Company to become globally significant as a uranium producer while growing shareholder wealth.
A Definitive Feasibility Study (DFS) was completed in January 2023 on its Tumas Project in Namibia with a re-costing of this study announced December 2023 validating the OPEX pricing assumptions and improving on CAPEX.
The Company's cornerstone suite of projects is situated within top-ranked mining jurisdictions namely Namibia, a country that has a long, well-regarded history of safely and effectively developing and regulating its considerable uranium mining industry and Australia also a top-ranked mining jurisdiction.
Nuclear options have one of the lowest carbon footprints of all energy generating technologies, including wind and solar. Nuclear has the capability to produce a continuous electricity supply and remarkably, through its concurrent thermal output, to also produce green hydrogen, provide an effective desalination service and deliver an abundance of domestic, commercial and industrial heat.
It can achieve these multiple outputs safely, affordably, and sustainably.
The growing realisation that renewables like solar and wind will be unable to deliver costeffective, reliable, plentiful energy both electrical and non-electrical (i.e., thermal) is forcing this change of emphasis toward adoption of more nuclear energy and its role as a major "heavy lift" partner in this energy transition the world is facing.
Held in December 2023, COP28 (28th Conference of the Parties of the United Nations Framework Convention on Climate Change) personified this dramatic shift, with delegate countries acknowledging the urgent need for the change in attitude. Notably, 22 major countries pledged the tripling of nuclear capacity by 2050 as the only way to ensure both global emission targets and that the complex energy requirements of the planet can be met.
Deep Yellow is focused on becoming a Tier-1 uranium producer by establishing a multi-project, globally diversified uranium portfolio and positioning itself to provide a secure and reliable supply of uranium to a growing market.
*To view the Half Year Report, please visit:
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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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