Deep Yellow Limited Stock Market Press Releases and Company Profile
31 December 2019 Half-Year Financial Report
31 December 2019 Half-Year Financial Report

Perth, Mar 6, 2020 AEST (ABN Newswire) - The Directors of Deep Yellow Limited (googlechartASX:DYL) (googlechartJMI:FRA) (googlechartDYLLF:OTCMKTS) submit herewith the financial report of the Company and its subsidiaries (the Group) for the half-year ended 31 December 2019.

Activities for the six-month period to 31 December 2019 advanced considerably both on the Company's Namibian Projects and preparing for start of the M&A effort together with completion of a successful capital raising to boost cash reserves to support future programs.

Key achievements:

- Confirmation of exploration of the prospective Tumas palaeochannel system on the Reptile Project of which only 70km of this 125km target has been adequately tested.

- Uranium resources on the Tumas palaeochannel were increased and, based on these positive results, a Scoping Study was commenced and completed initiating commencement of a Pre-Feasibility Study to test viability of Langer Heinrich-style deposits which are found to occur on the Reptile Project.

- Exploration 100% funded by an earn-in party on the Nova Joint Venture Project continued testing for basementassociated mineralisation (Husab/Rossing alaskite-associated mineralisation) and surficial calcrete-style mineralisation (Langer Heinrich-style deposits).

- Completion of a capital raising program in July 2019, involving both placement to selected parties to broaden the shareholder base and a Share Purchase Plan. It jointly raised A$11.3M to support sector consolidation possibilities and advancement of the accelerated Reptile Project in Namibia.

To view the report, please visit:
https://abnnewswire.net/lnk/H112310V


About Deep Yellow Limited

Deep Yellow Limited ASX DYLDeep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a. 

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 Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions. 

Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy. 

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.

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Contact

John Borshoff
Managing Director/CEO
T: +61-8-9286-6999
Email: john.borshoff@deepyellow.com.au
www.deepyellow.com.au



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