Name of the Project
Tumas palaeochannel uranium project.

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

Project Owner/s
The merger agreement between uranium developer Deep Yellow Resources and ASX-listed Vimy Resources was implemented in August 2022, creating a global uranium player.

Under the merger agreement, Deep Yellow will acquire all the shares in Vimy, with Vimy shareholders to receive 0.294 Deep Yellow shares for every Vimy share held.

Project Description
The Tumas prefeasibility study (PFS) completed in February 2021 has confirmed the technical and economic viability of the project.

The PFS envisages a Langer Heinrich-style openpit mining operation using a purpose-built processing facility, with a design capacity of three-million pounds of uranium a year over a 11.5-year life-of-mine.

This development concept comprises conventional openpit mining, ore beneficiation through scrubbing and size classification, low-temperature (150 ºC) pressure leaching using carbonate/bicarbonate leachate, reagent recycle using membrane concentration of washed leachate, uranium and vanadium refining and packaging, as well as in-pit tailings deposition.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PFS shows an initial after-tax net present value, at a nominal 8.6% discount, of $207-million and internal rate of return of 21.1%, with a payback of 3.8 years from the start of production.

Capital Expenditure
$265.7-million.

Planned Start/End Date
Not stated.

Latest Developments
The Tumas project, in Namibia, will complete its definitive feasibility study by end 2022.

Key Contracts, Suppliers and Consultants
Ausenco Services (engineering and capital cost estimate).

Contact Details for Project Information
Deep Yellow, tel +61 8 9286 6999 or email info@deepyellow.com.au.
Vimy Resources, tel +61 8 9389 2700 or email info@vimyresources.com.au.