Tumas uranium project, Namibia – update
Name of the Project
Tumas uranium project.
Location
The Tumas palaeochannel system is located within Deep Yellow’s 100%-owned Reptile project, in Namibia.
Project Owner/s
Deep Yellow.
Project Description
A scoping study on the Tumas project has delivered encouraging results, which have provided Deep Yellow with the confidence to proceed directly to a prefeasibility study (PFS).
The scoping study envisages a multipit, openpit mining operation using a purpose-built processing facility, based on a high proportion of inferred resources.
The project has an expected mine life of more than 20 years.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project is expected to have a minimal internal rate of return of 20%.
Capital Expenditure
Not stated.
Planned Start/End Date
Not stated.
Latest Developments
Deep has completed its A$40.8-million capital raise and has issued more than 62.7-million shares to institutional, sophisticated and professional investors. The share placement will fund work on its Tumas project and advance targeted merger and acquisition opportunities.
Deep Yellow MD and CEO John Borshoff has said that the company will now turn its attention to the completion of the Tumas definitive feasibility study, as it continues to progress towards its primary objective of creating a five-million- to ten-million-pound low-cost, multiproject, global uranium company.
Key Contracts, Suppliers and Consultants
Ausenco Services (engineering and capital cost estimate).
Contact Details for Project Information
Deep Yellow, tel +61 8 9286 6999 or email info@deepyellow.com.au.
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