SUBIACO, Western Australia, May 3, 2021 /PRNewswire/ -- Deep Yellow Limited (OTCQX: DYLLF) (ASX: DYL), based in Subiaco, Western Australia, focused on uranium exploration and development, today announced that Mr John Borshoff, Managing Director/CEO will present live at VirtualInvestorConferences.com on May 6th.
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
Successful completion of Tumas PFS January 2021, which confirmed or improved on Scoping Study (January 2020) assumptions based on a uranium price of US$65/lb. Key results:
11.5 years Life of Mine (LOM);
post-tax, ungeared NPV8.6(nominal) of US$207M (A$276M);
2.5Mlb eU3O8 pa average LOM production;
post tax, real, ungeared IRR 21.1%; and
C1 cash costs US$27.3/lb after by-product vanadium credit.
Board approved proceeding directly to a Definitive Feasibility Study, now underway and scheduled for completion by end CY2022.
Infill resource upgrade drilling in support of the DFS continues at Tumas 3, with 156 RC holes for 2,742m drilled by end March. Best intersections included:
T3I547 9m at 481ppm eU3O8 from 4m;
T3I523 4m at 490ppm eU3O8 from 6m;
T3I459 8m at 892ppm eU3O8 from 4m;
T3I465 4m at 396ppm eU3O8 from 4m; and
T3I547 10m at 449ppm eU3O8 from 3m.
Resource upgrade drilling ongoing with updated Mineral Resource Estimate expected to be completed on schedule in June 2021 noting only 50% of 125km highly prospective palaeochannel had been tested at time of PFS.
Ausenco confirmed to continue as project engineer for the early works phase of the DFS
Highly successful $42.8M capital raising completed, increasing the overall cash position of the Company to $51.3M
Possibility of a further $30M to be added to the cash balance on exercise of outstanding 50c options, expiring June 2022
Ongoing assessment of M&A opportunities for sector consolidation.
About Deep Yellow Limited Led by a proven and experienced management team with an exceptional track record of uranium success from development to production, Deep Yellow (the Company) is advancing a dual-pillar growth strategy to establish a multi-mine, 5-10Mlb per annum, low-cost, tier-one uranium producer. The strategy is focused on organic growth through the development of the Company's existing asset base in Namibia, with a Definitive Feasibility Study DFS in progress on the Tumas Project and inorganic growth through targeted M&A.
Namibia has a long and successful history in uranium mining whilst also being a world-class jurisdiction to operate in. Currently, Namibia is the world's 4th largest uranium producer.
Importantly, the critical role nuclear energy will play in meeting aggressive emission targets will grow even stronger. Currently, global emissions continue to rise despite renewable surge, highlighting the need to increase nuclear contribution for electricity generation to deliver sustainable, safe, zero-emitting, dispatchable power 24/7. Put simply, nuclear energy is becoming the moral imperative, with positive momentum building globally.
The Company is well-funded to rapidly advance key workstreams in 2021, as it works towards establishing a tier-one uranium Company to provide security and certainty of uranium supply into a growing market.
About Virtual Investor Conferences® Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
For further information on the Company and its projects, please visit the website at: www.deepyellow.com.au