Name of the Project
Tumas uranium project.

Location
The Tumas palaeochannel system is located within Deep Yellow’s 100%-owned Reptile project, in Namibia.

Project Owner/s
Deep Yellow.

Project Description
A definitive feasibility study (DFS) on the project has proven positive.

The objective of the project is to develop a facility to treat ore from the Tumas 1, Tumas 2, Tumas 3, Tumas 1 East and Tubas ore resources.

The study envisages an operation treating 4.15-million tonnes a year to produce up to 3.6-million pounds of uranium and 1.15-million pounds of vanadium by-product a year over a projected mine life of 22.25 years, based on existing ore reserves.

Additional resources will likely increase the life-of-mine to more than 30 years.

The mine will be a conventional, shallow opencut truck-and-shovel operation using contract mining.

The process route comprises a beneficiation process to reject barren material, leaching, solid liquid separation, pregnant leach solution concentration, vanadium recovery, uranium recovery and uranium barren liquor treatment.

The project also includes the construction of a 13.5 km site access road, a 45.1 km 132 kV powerline and a 65 km water supply pipeline.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Using a uranium price of $65/lb, a vanadium price of $8.90/lb and a discount rate of 8%, the financial analysis for the project indicates an after-tax project net present value of $341-million and an internal rate of return of 19.2%.

Payback is estimated at 4.1 years from the start of production.

Capital Expenditure
Initial capital expenditure is estimated at A$372-million.

Planned Start/End Date
Not stated.

Latest Developments
Deep Yellow plans to focus on detailed front-end engineering design, project financing, and product offtakes ahead of a final investment decision in the first half of 2024.

Key Contracts, Suppliers and Consultants
Ausenco Services (DFS).

Contact Details for Project Information
Deep Yellow, tel +61 8 9286 6999 or email info@deepyellow.com.au.