Deep Yellow has begun operating as a significantly larger uranium company, following the successful merger with Vimy Resources.
The transaction, announced on March 31, combines two advanced, geographically diverse uranium projects with a combined project portfolio, placing Deep Yellow in a unique position as one of the few uranium companies globally with multi-asset exposure and development optionality to deliver its stated incentive-driven post-2025 production target.
The completion of the merger has also consolidated a world-class exploration portfolio across two Tier 1 mining jurisdictions, particularly the highly prospective Alligator Project in the Northern Territory, able to support the company’s ambitious strategy of establishing more than 10 million pounds production per annum.
Deep Yellow is now the only ASX-listed company with two advanced, near development-ready uranium operations: the Tumas Project located in Namibia, and the Mulga Rock project in Western Australia.
With production from both these mines, Deep Yellow has the potential to become the largest pure-play uranium producer on the ASX.
Deep Yellow managing director John Borshoff said the emerging, geographically diversified platform being developed not only satisfies Deep Yellow’s long-term growth strategy, but also has the potential to create significant shareholder value.
“This is highlighted by the major competitive advantage we have now attained by being one of the few uranium companies globally with geographically diverse and multi-asset uranium production potential,” he said.