Deep Yellow Limited (DYL.AX) is a prominent uranium explorer with advanced projects in Australia and Namibia.
Information link for Deep Yellow stock http://www.deepyellow.com.au/
Quarter report http://www.deepyellow.com.au/reports/docs/071231_quarterly_activities.pdf
Common share count from last report; 1,108,726,958 (note) they are still selling new shares.
The success of DYL’s exploration programmes in Namibia and Australia in 2007 has provided
focus for 2008, which will see a ramp up of resource delineation drilling in Namibia and initiation of
resource drilling at the Queens Gift prospect in Mt Isa.
With over A$62 million in cash and liquid assets DYL is well positioned for growth through
exploration success in 2008.
The partial Napperby JORC Inferred Mineral Resource totals 1.9 million tonnes at 0.036% (360ppm) U3O8 for 670 tonnes or 1.5 million pounds of contained U3O8.
DYL has agreed to acquire 100% of a private company Superior Uranium Pty Ltd (SUPL) which owns 100% of four granted uranium Exploration Permits (EPMs) and two EPM applications in northwest and north Queensland subject to due diligence and Board approval.
Mt Isa drill programme partially completed, it had to be curtailed due to bushfires. A total of 9 holes for 774 metres were drilled at the Lochness Prospect and Miranda Prospect.
DYL completed the acquisition of Raptor Minerals Limited and thereby obtained control of three contiguous Exclusive Prospecting Licences (EPLs 3496, 3497 and 3499). The tenements acquired are to the west and southwest of Paladin Resources Limited's Langer Heinrich uranium mine.
Entitlement issue closed on 13 December 2006 raising a total of $15.5 million. Cash on hand is $25.3M.
Paladin Resources Ltd is now DYL's major shareholder, holding 12% of the Company's equity.
Mr Mervyn Greene joined the Board as a Non Executive Director
The Company's stated strategy of acquiring large tracts of highly prospective ground including identified resources with upside potential provides the Company with an excellent opportunity to establish itself as a key player in the emerging uranium industry. Diversity into Africa, particularly Namibia, which strongly supports growth of its uranium exploration and mining industry, and in which the Deep Yellow team has strong experience, will help consolidate the Company's objectives to lead in development of new uranium deposits close or adjacent to existent uranium mining infrastructure.
Link to chart on ASX (note: all charts are in Australia dollars)http://asx.netquote.com.au/charts.asp?code=DYL
Deep Yellow Limited has many projects ongoing in Namibia and Australia
5 day chart DYL.AX