Australian-listed uranium exploration company Deep Yellow last week listed on the mining section of the development board of the Namibian Stock Exchange.

It is the forty-first company to list on the Namibian bourse, and the third on the DevX.

The company says the dual-listing “is in large part to affirm its commitment to Namibia”.

It believes listing in Namibia will provide several benefits, including widening Deep Yellow’s shareholder base, and “affording Namibian investors the opportunity to participate in future fund raising to progress the company’s projects”.

The company also believes that a Namibian listing will allow Namibian and South African investors and institutions to own Deep Yellow shares, as current exchange control regulations prevent such ownership.

It will also “assist in creating greater public awareness of both the company and the uranium market in Southern Africa”.

Deep Yellow carries out exploration in Namibia through its wholly owned subsidiary, Reptile Uranium Namibia.
The company has four contiguous prospecting licences covering 3 000 km2 in Namibia. These licences are near to Paladin’s Langer Heinrich mine.

Australian research group Resource Capital Research, reports that several mining companies have been scouring Namibia for economically lucrative uranium deposits.

Australian mining company Extract Resources has released a scoping study for the Ida Dome project.

This project has an envisaged plant capacity of six-million tons a year, producing 2,9-million pounds of U3O8 a year. Capital expenditure for the project is estimated at $211-million.

In the same manner, yet another company from down under, West Australian Metals, has established an initial resource at Marenica, in Namibia.

Other Namibian projects on the go, or already established, include the long-running Rössing mine, as well as the Trekkopje and Valencia projects.

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