Deep Yellow Limited (ASX:DYL) has released its quarterly activities report for September 2025, detailing significant advancements in its Tumas Project located in Namibia. The company remains on track for its targeted first production in the third quarter of calendar year 2027, with ongoing developments in both engineering and infrastructure.
Tumas Project Developments
Progress at the Tumas Project includes detailed engineering and the finalization of off-site power and water infrastructure. The company is focused on completing the detailed design for the process plant and securing agreements for essential utilities. Additionally, bulk earthworks are currently being undertaken on-site.
Following the end of the quarter, Deep Yellow successfully completed a shallow reverse circulation drilling program at the S-Bend prospect. This initiative involved 452 holes drilled over a total of 3,361 meters. The program identified four clusters of higher-grade mineralization, which are promising for expanding the uranium resource base of the Tumas Project. Notable drill intersections included:
– SB0247: 8 meters at 332 ppm eU3O8 from 1 meter depth
– SB0560: 2 meters at 1,217 ppm eU3O8 from surface
These discoveries enhance the potential to extend the Tumas resource beyond the current 30-year Life of Mine.
Other Projects and Corporate Updates
In addition to the Tumas Project, the Mulga Rock Project is advancing with mini-pilot resin testwork that successfully demonstrates the recovery of uranium, base metals, and rare earth elements from samples taken from the Ambassador and Princess deposits. The revised Definitive Feasibility Study for this project is progressing, focusing on process engineering and cost estimates.
Fieldwork at the Alligator River Project has been completed, with results currently pending. A reverse circulation and diamond drilling program is underway, which may further contribute to the company’s resource base.
Deep Yellow reported a healthy group cash balance of A$203.5 million as of September 30, 2025. The company is closely monitoring the uranium market, particularly the supply deficits projected for both the short and long term, as highlighted in the World Nuclear Association’s bi-annual market study released in September 2025.
On October 20, 2025, John Borshoff stepped down from his role as Managing Director and Chief Executive Officer. The board has initiated the process for appointing a successor, ensuring continuity in leadership as the company progresses.
Deep Yellow Limited is scheduled to hold its Annual General Meeting on November 20, 2025, where further updates on its strategic direction and project developments will be discussed.
As a company, Deep Yellow is committed to establishing itself as a leading uranium producer, with the capability to generate over 10 million pounds per annum. With a diverse portfolio of projects across prime uranium jurisdictions, the company is well-positioned to meet the growing demand for nuclear energy as a reliable solution for achieving zero-emission targets.
