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Building a Global Tier-1 Uranium Producer

Deep Yellow is the best positioned uranium mid-cap company globally

Led by a best-in-class uranium team, with a track record of successfully developing projects, Deep Yellow is progressing its dual-pillar strategy to establish a multi-mine company with capacity to produce 10+Mlb per annum.

The Company is led by John Borshoff (+48 years’ uranium experience).  The Board is chaired by Chris Salisbury (30 years Rio – 12 years’ uranium experience) and collectively, Deep Yellow has one of the largest and most experienced uranium teams on the ASX.

The Company has acquired and developed a portfolio of geographically diverse exploration, early-stage and advanced uranium projects, which provide a strong development pipeline and significant growth optionality through expansion of its current uranium resource base by adding uranium “pounds in the ground”.

Deep Yellow has a key competitive advantage being the only ASX-listed company with two advanced projects, Tumas – flagship project (Namibia) and Mulga Rock (Western Australia). Both projects are located in Tier-1 uranium jurisdictions and have a potential production capacity of more than 7 Mlb pa -Tumas 3.6 Mlb pa and a potential 30+ year Life of Mine (LoM) and Mulga Rock, 3.5 Mlb pa and 15+ year LoM.

In late 2023, the Company completed a review of the 2023 Tumas Definitive Feasibility Study (DFS), which generated excellent results and strengthened the Project’s status as a long-life, world-class uranium operation. Shortly after this, Deep Yellow received the mining licence for Tumas and remains on track for a Final Investment Decision to be made in Q3 2024, with operations scheduled to commence in 2026.

A revised DFS at Mulga Rock will commence in Q2 2024, with a key focus on completing an evaluation program to include critical minerals, rare earth elements and additional uranium, to increase the size scale and Life of Mine of the Project.

The Company is well-positioned for continued organic growth through development of its highly prospective exploration portfolio which comprises Omahola (Namibia) and Alligator River (Northern Territory) and inorganic growth through further consolidation of targeted high-quality uranium assets.

The shift in global thinking and sentiment towards the adoption of nuclear energy continues to generate strong momentum for the uranium sector. Most major economies are in full alignment demanding more nuclear, as it is the only 24/7 clean energy source that can provide baseload power supply and numerous other vital applications, while achieving zero emissions. The need for more nuclear was highlighted at COP28, where over 20 countries signed to the goal of tripling nuclear energy capacity to achieve zero emissions by 2050.

This has created an exciting opportunity for the uranium market, expected to result in exceptional growth and value generating opportunities for Deep Yellow, as the Company is well-placed to provide production optionality, security of supply and geographic diversity to a growing market.

Mulga Rock Western Australia⁴ Revised DFS to commence Q2 2024 Resource: 105 Mlb (410 ppm U₃O₈) Reserve: 42 Mlb (835 ppm U₃O₈) Target Production: 3.5 Mlb p.a. Omahola Namibia Resource: 125 Mlb (190 ppm U₃O₈) Tumas Namibia DFS complete, FID by Q3 2024 Resource: 121 Mlb (260 ppm U₃O₈)¹ Reserve: 67 Mlb (345 ppm U₃O₈) Target Production: 3.6 Mlb p.a.² Alligator River Northern Territory Resource: 33 Mlb (1.09% U₃O₈)³

Note: Resource & Reserve metrics reported on a 100% basis; (1) Deep Yellow currently owns 100% of Tumas. Oponona (local Namibian partner) has a right to acquire 5% of the project;

  1. Deep Yellow currently owns 100% of Tumas. Oponona (local Namibian partner) has a right to acquire 5% of the project
  2. DFS forecast production capacity
  3. 1.09% is equivalent to 10,900 ppm U₃O₈
  4. Refer ASX announcements 16 June 2022, 9 August 2022, 20 January 2023 and 26 February 2024


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Investor Conference Call

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Digital Media

Zack’s Fireside Chat with John Borshoff

28th June 2024

The Market Herald – Paladin founder backs uranium with Deep Yellow

18th September 2023

Industry Associations

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