Deep Yellow is now the only ASX-listed company with two advanced, near developmentready uranium operations
DEEP YELLOW AND VIMY MERGER COMPLETED. (Credit: Rolf Dobberstein from Pixabay)
Today marks the first day Deep Yellow Limited (ASX: DYL; OTCQX: DYLLF) (Deep Yellow
or the Company) is operating as a significantly larger uranium company, following the
successful merger with Vimy Resources Limited (Vimy) announced on 31 March 2022.
The transaction, announced on 31 March 2022, combines two advanced, geographically
diverse uranium projects, with a combined project portfolio placing Deep Yellow in a unique position as one of the few uranium companies globally with multi-asset exposure and development optionality to deliver its stated incentive-driven production target post-2025, given the necessary incentive uranium price. The completion of the merger has also consolidated a world-class exploration portfolio across two Tier-1 mining jurisdictions, particularly the highly prospective Alligator Project, able to support the Company’s ambitious strategy of establishing +10Mlb production per annum.
Deep Yellow is now the only ASX-listed company with two advanced, near developmentready uranium operations. The Tumas Project (Tumas) located in Namibia, will complete its Definitive Feasibility Study (DFS) by end CY22 with potential to produce 3Mlb U3O8 p.a. The Mulga Rock Project (Mulga Rock) located in Western Australia, has completed a DFS and the Company plans to revise and update this study, to include base metal recovery optimisation work, detailed resource definition drilling work and mining studies with potential to produce 3.5Mlb U3O8 p.a.
With production from both these mines, Deep Yellow has the potential to become the largest pure-play uranium producer on the ASX. Under the leadership of its highly experienced management team and proven technical team, the Company is in a unique position to benefit from a rapidly expanding nuclear sector and contribute to the global decarbonisation efforts.
As previously announced, Steven Michael (Executive Director) and Wayne Bramwell (NonExecutive Director) have joined the Board of Deep Yellow.
Source: Company Press Release