Stock Track | Deep Yellow Ltd Soars 5.04% Intraday on AU$34 Million Contract Awards for Tumas Project

Stock Track

07/20

Deep Yellow Ltd's stock surged 5.04% during intraday trading on Monday, following the company's announcement of significant contract awards for its flagship Tumas project.

The uranium developer awarded two civil and concrete construction contracts with a combined estimated value of approximately AU$34 million for its Tumas project in Namibia. The first contract, worth about AU$18.5 million, was awarded to Namibia Construction, while the second, valued at AU$15.5 million, went to Nexus Building and Civils Contractors.

Mobilization for the project is expected to begin in August, with the civil and concrete works to be delivered sequentially. The company is targeting a final investment decision for the Tumas project in the fourth quarter, with these contract awards representing important progress toward that milestone.

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