Name of the Project
Mulga Rock uranium project.

Location
In the Shire of Menzies, in Western Australia.

Project Owner/s
The merger agreement between uranium developer Deep Yellow Resources and ASX-listed Vimy Resources was implemented in August 2022, creating a global uranium player.

Under the merger agreement Deep Yellow will acquire all the shares in Vimy, with Vimy shareholders will receive 0.294 Deep Yellow shares for every Vimy share held.

Project Description
An updated definitive feasibility study (DFS) has reinforced the global importance of the project, the biggest advanced uranium project in Australia.

The mineral resources and reserves estimate, mine plan and schedule, as well as the technical design and metallurgical flowsheet, are unchanged from the 2018 DFS.

The project has an expected mine life of 15 years, with yearly production estimated at 3.4-million pounds of uranium and life-of-mine production estimated at 47.1-million pounds of uranium.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project’s pretax net present value has increased from A$530-million, at an 8% discount rate in the 2018 DFS, to A$605-million in the updated DFS. The internal rate of return has increased from 25.3% in the 2018 DFS to 31.1% in the updated DFS. Payback from the start of production has decreased from 3.1 years in the 2018 DFS to 2.4 years in the updated DFS.

Capital Expenditure
Total capital expenditure has decreased from A$493-million in the 2018 DFS to an estimated  A$393-million in the updated DFS.

Planned Start/End Date
Production is expected to start in the third quarter of 2023.

Latest Developments
Deep Yellow plans to revise and update the DFS to include base metal recovery optimisation work, detailed resource definition drilling work and mining studies with the potential to produce 3.5-million pounds a year of uranium.

Key Contracts, Suppliers and Consultants
GR Engineering Services (updated DFS), including Piacentini & Son (earthmoving); and Thinking Human Resources and OfficeSolutions IT (information technology and communications).

Contact Details for Project Information
Deep Yellow, tel +61 8 9286 6999 or email info@deepyellow.com.au.
Vimy Resources, tel +61 8 9389 2700 or email info@vimyresources.com.au.