Deep Yellow will be busy with the Tumas project in the 4th quarter of 2024.
The company has a solid financial position with A$247M cash (including cash equivalents) to initiate the development of Tumas and pursue a growth strategy.
The Tumas Project, under license 237 within EPLs 3496 and 3497, is 100% owned by Deep Yellow’s Reptile Uranium Namibia.
It has a 20-year license that expires in 2043.
In the 4th quarter of 2024 alone, Deep Yellow will schedule the Tumas project for the first six years of operations, starting in 2026.
Deep Yellow is also progressing with the Tumas project finance, starting the early works and considering the final investment decision. In this current quarter, Deep Yellow wants to construct a temporary access road, site communications, and offices and install temporary power, security, and water supply.
In the first quarter of 2025, Deep Yellow targets completing grade control for a six-year mining plan, with the maiden Tumas production set for the second half of 2026.
The Tuma project has an estimated ore reserve of 67.3 Mlb over a 22.5-year life of mine.
The latest mineral resource estimate upgrade at Tumas 3 targets a 30-year life of mine.
The Re-Costing Study completed in December 2023 resulted in positive and negative price outcomes across the packages, with net savings identified totalling US$24.6 million, reducing the capital expenditure from the DFS total of US$385.1 million (A$566.3 million) to the re-costing total of US$360.5 million (A$530.1 million).
In total, 71% of project capital expenditure was re-costed.
First fills, spares, engineering, procurement, construction management, and contingency were also re-costed.
