DYLLF - Deep Yellow Limited (DYLLF) 2019 Annual Report
The Company has a cornerstone suite of projects in Namibia, a top-ranked African mining destination with a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
Deep Yellow holds four key contiguous Exclusive Prospecting Licences (EPLs) covering 1,590km2 within the heart of what is a world recognised, prospective uranium province of high significance. The tenements are strategically located amongst the major uranium mines of this region - 20km south of the Husab/Rossing deposits and 40km southwest of the Langer Heinrich deposit.
CORPORATE STRATEGY
Deep Yellow has a two-pronged growth strategy involving the growing of its uranium resource base in Namibia. Work has continued producing significant new discoveries in the Tumas 1 East region in early 2019 following up with an update of the resource estimate achieving nearly a three-fold increase since 2017. In parallel, the Company is pursuing accretive, countercyclical acquisitions to create a multi-project uranium platform.
HIGHLIGHTS OF THE 2019 FINANCIAL YEAR
Key achievements in the Company are as follows:
- Discovery of the Tumas 1 East deposit located within tributaries on the 100% owned Reptile Project achieving Inferred Resource of 18.5Mlb grading 310ppm eU3O8.
- Continued drilling of Tumas palaeochannels confirmed the highly prospective nature of the palaeochannels, 60km of which remain to be properly tested.
- The joint venture on the Nova Project with Japan Oil, Gas and Metals National Corporation (JOGMEC), the minerals investment arm of the Japanese government, over two tenements in Namibia where JOGMEC can earn 39.5% on expenditure of A$4.5M, continued to its third full year.
- Upgraded its trading platform in the United States to the OTCQX market platform giving potential to significantly expand its shareholder investor base.
- Successfully raised A$11.29M through a placement and share purchase plan late June/early July 2019.
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About Deep Yellow Limited:
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a specialist differentiated uranium company implementing a new contrarian strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company's uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a global, geographically diverse asset portfolio. The Company's cornerstone suite of projects in Namibia is situated within a top-ranked African mining destination in a jurisdiction that has a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
Source:
Deep Yellow Limited
Contact:
John BorshoffManaging Director/CEOT: +61-8-9286-6999Email: john.borshoff@deepyellow.com.auwww.deepyellow.com.au