June 2024 Quarterly Activities Report
Perth, July 29, 2024 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to provide a summary of key activities completed in the June 2024 quarter.
Tumas Project
- Ausenco Services Pty Ltd selected as preferred EPCM contractor for the flagship Tumas Project
o Scope of work to be completed includes finalising detailed engineering with an EPCM contract opportunity for project execution
o Project remains scheduled for commissioning Q3 2026
- Resource upgrade drilling at Tumas 3 completed with data preparation underway for release of updated Mineral Resource Estimate early August
- Post Quarter - Nedbank Limited mandated as lead arranger and bookrunner for project financing
Mulga Rock Project
- Hydrological drilling program commenced to define water management parameters for mining
- Several remaining evaluation programs underway, results to be key inputs for the revised DFS
o Resin pilot program commenced for optimisation of uranium and critical minerals extraction
o Mining study underway to determine optimal method for development of the multi-commodity mining operation and revised Ore Reserve Estimate
Corporate
- Deep Yellow enters the S&P/ASX 200 Index
- Successful A$250M capital raising completed
- Cash position - A$257.5M
*To view the full quarterly report with tables and figures, please visit:
https://abnnewswire.net/lnk/D8BLH388
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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