Deep Yellow Says Detailed Engineering for Namibia Uranium Project Over 68% Complete

MT Newswires Live04-28 07:36

Deep Yellow (ASX:DYL) said detailed engineering at its Tumas project in Namibia progressed to 68% complete, with bulk earthworks 91% complete and civil construction expected to commence in the next quarter, according to a Tuesday Australian bourse filing.

Tendering is now complete for 79% of all major process plant equipment packages, supporting procurement readiness and capital execution planning, the filing added.

At its Mulga Rock Project in Western Australia, trade-off studies to inform a revised feasibility study have continued following successful piloting programs reported last year, with recent pilot plant testing confirming previously forecast recoveries of all targeted metals, including critical minerals and rare earths, while also lowering estimated operating costs, the filing added.

The company said it will update the resource estimate using these improved modifying factors, while a seismic survey has identified priority drill targets for the 2026 exploration season at the Alligator River project in the Northern Territory.

Group cash balance stood at AU$171.6 million as at March 31, it added.

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