HIGHLIGHTS
TUMAS PROJECT
- 650-hole resource upgrade program commenced in late
o Primary objective to define 6 years of proven reserves for detailed mine scheduling
o An associated diamond drilling program will provide supporting data for reserve upgrade purposes
- Tender process underway to select the detailed engineering and EPCM service provider
- Uranium offtake marketing underway, and discussions commenced with financiers for debt financing component
MULGA ROCK PROJECT
- Successful resource upgrade completed with a 26% increase in total contained uranium to 71.2 Mlb U3O8 from 56.7 Mlb U3O8 ata 100 ppm U3O8 cut-off grade, with a substantial uplift also achieved in critical mineral value (including Rare Earth Oxide)
o 86% of Mulga Rock East uranium resource in Measured and Indicated classification using a 100 ppm U3O8 cut-off grade
o Various critical minerals' inventory (Cu, Ni, Co, Zn component) increased by between 200% and 400%
o Updated total Mineral Resources Estimate at Mulga Rock East deposits:
- Ambassador: 73.9 Mt at 605 ppm U3O8 Equivalent
- Princess: 7.3 Mt at 425 ppm U3O8 Equivalent
- Definitive Feasibility Study revision to commence Q2 CY2024 following positive resource upgrade and metallurgical testwork results
- Mulga Rock West deposits remain to be assessed and eventually integrated with the Mulga Rock East mining operations
CAPITAL RAISING
- Successful
-
- Subsequent to quarter end,
CORPORATE
- Cash position at end of
- Uranium market outlook continues to be very strong with nuclear demand expected to continue outpacing supply over the mid-term
- Anticipated additional funds with receipts of approximately
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/70JG7L9H
About
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
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP,
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.
Contact:
Managing Director/CEO
T: +61-8-9286-6999
E: john.borshoff@deepyellow.com.au
W: www.deepyellow.com.au
Media:
T: +61-466-984-953
e: cgilenko@citadelmagnus.com
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