Deep Yellow Delays Final Investment Decision on Namibia Project Until March 2025; Shares Down 11%

MT Newswires Live

Dec 19, 2024

Deep Yellow (ASX:DYL) postponed the final investment decision on its Tumas project in Namibia to March 2025 due to delays in receiving final costing and quotes for detailed engineering work, according to a Thursday filing with the Australian bourse.

The final execution and start of plant construction are contingent on sufficient uranium price incentivization for greenfield project start-up, the filing said.

The company also suspended discussions on uranium offtake until the uranium price is justified for greenfield project development, according to the filing.

Shares fell 11% in afternoon trade Thursday.

Price (AUD): $1.07, Change: $-0.13, Percent Change: -11.08%

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