- Deep Yellow (DYL) on track to complete its Tumas uranium project definitive feasibility study in the second half of 2022
- The first phase of the DFS on Tumas, in Namibia, has been largely completed, including an ore reserve expansion, mining licence application, environmental impact assessment and detailed metallurgical test work
- Following work on the DFS, projections for the life of mine production increased to 25.7 years – up from 11 years – while all-in sustaining costs dipped
- Deep Yellow says it will now transition to the second and final phase of DFS work, which includes further detailed process design, operating and negotiation of material contracts ahead of project implementation
- Deep Yellow shares unchanged at 76 cents
Deep Yellow (DYL) says it is on track to complete a definitive feasibility study (DFS) for development of its Tumas uranium project in Namibia by the second half of 2022.
The company said the DFS is progressing as planned, with key workstreams completed and excellent results delivered. It reported the results improved on some key inputs and confirmed the assumptions outlined in a pre-feasibility study (PFS) completed in January 2021.
The first phase of the DFS work has been largely completed, including an ore reserve expansion, mining licence application, environmental impact assessment and detailed metallurgical test work.
The metallurgical recovery of 93.8 per cent in the PFS was confirmed through further beneficiation and leach test work.
Following the DFS, project mine projection life has increased to 25.7 years, up from 11 years. All-in sustaining costs also went down from US$30.69 (A$43) per pound of uranium oxide to US$30.3 (A$42.4) during the first 20 years of production.
Deep Yellow said it will now transition to the second and final phase of DFS work, which includes further detailed process design, operating and capital cost estimates, detailed mine planning and negotiation of material contracts ahead of project implementation.
The mining licence application and environmental impact assessment processes are said to be proceeding well, with nothing identified to preclude the planned development of the project.
A study by Australia’s Commonwealth Scientific and Industrial Research
Organisation confirms that seepage from waste rock dumps and
the tailings storage facility will not be a long-term rehabilitation liability.
Deep Yellow shares were unchanged at 76 cents at 9.42am AEDT.