https://www.engineeringnews.co.za

Deep Yellow raises cash for uranium strategy

11th June 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Uranium junior Deep Yellow has raised A$9-million through a share placement, which will be used to fund the company’s growth strategy.

The company issued more than 29-million shares, at a price of 31c each, under its placement capacity.

Deep Yellow MD and CEO John Borshoff said on Tuesday that the capital raise was an important moment in the development of the company.

“Our consistent, differentiating strategy for growth, at a time when the uranium sector is in a downturn, has resonated, attracting quality institutional and long-term investors. The support has been most heartening, strengthening the company’s share register for its next stage of growth as we build on our stated objectives.”

The funds raised will be used to fund short-term working capital requirements, including expanding the existing uranium resource base in Namibia, and evaluating the best approach to advance the project acquisition growth strategy to take advantage of the current uranium downturn.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.06 1.345s - 140pq - 2rq
Subscribe Now