Deep Yellow's strategic project update

Deep Yellow (ASX:DYL) announced a delay in the Final Investment Decision (FID) for its Tumas Project in Namibia, now expected in early March 2025. The postponement is due to delayed costings, equipment quotes, and opportunities for further project optimization. Despite this, significant progress continues, with early works on infrastructure underway and water and power supply contracts being finalized.

Overview of Tumas Project developments

Deep Yellow (ASX:DYL) has deferred the Final Investment Decision for its Tumas Project to March 2025 due to delays in costings, quotes, and project optimization. Progress continues with early works and finalizing contracts for essential resources like water and power. The company remains well-funded with A$247 million, ensuring ongoing development unaffected by the delay. Production is anticipated in late 2026, contingent on favorable uranium prices. Deep Yellow is focused on becoming a long-term uranium producer, leveraging its Tumas and Mulga Rock projects amidst growing nuclear energy demand.

Insight from Deep Yellow leadership

The company is committed to basing final decisions on the best available information, ensuring they align with shareholders' interests. We are strategically positioned to make informed choices regarding project timing and financing.