22 Dec 2025

DYLLF: Flagship Tumas Project Continues to be De-Risked by Pre-Production Work Streams CEO Transition in Progress S Bend & Tinkas Prospects add visible potential for future resource growth at Tumas, thereby extending LOM.

Deep Yellow Limited (DYLLF:OTC) | 0 0 0.0%

- Steven Ralston
- 12 pages

Management is utilizing FID deferral period by further derisking the Tumas Project through quantifiable progress across critical pre-production work streams. CEO transition adds volatility to Deep Yellow's stock. New CEO, Greg Field, will take the helm no later than May 1, 2026 Drilling results at S Bend & Tinkas Prospects are encouraging for the potential for future resource growth at Tumas Update on uranium industry.

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DYLLF: Flagship Tumas Project Continues to be De-Risked by Pre-Production Work Streams CEO Transition in Progress S Bend & Tinkas Prospects add visible potential for future resource growth at Tumas, thereby extending LOM.

Deep Yellow Limited (DYLLF:OTC) | 0 0 0.0%

Published: 22 Dec 2025
Author: Steven Ralston
Pages: 12

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DYLLF: Flagship Tumas Project Continues to be De-Risked by Pre-Production Work Streams CEO Transition in Progress S Bend & Tinkas Prospects add visible potential for future resource growth at Tumas, thereby extending LOM.

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DYLLF: Flagship Tumas Project Continues to be De-Risked by Pre-Production Work Streams CEO Transition in Progress S Bend & Tinkas Prospects add visible potential for future resource growth at Tumas, thereby extending LOM.

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DYLLF: Flagship Tumas Project Continues to be De-Risked by Pre-Production Work Streams CEO Transition in Progress S Bend & Tinkas Prospects add visible potential for future resource growth at Tumas, thereby extending LOM.

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DYLLF: Since the FID was deferred in April, pre-construction work has continued so that Tumas will be ready for the rapid execution of full-scale construction. The work includes advancing optimized engineering plans, site preparation, infrastructure (water & power) and other operational readiness.

SP Angel Morning View: Copper prices supported by PBOC comments in support of the property sector

DYLLF: The Board has opted for a staged development approach at Tumas until uranium prices justify full-scale construction of a greenfield uranium project meanwhile, an updated DFS was completed last month.

DYLLF: Significant progress in raising capital Deep Yellow continues to proceed toward the commencement of production at Tumas (Namibia) in 2H 2026. Review of Recent Activities. The spot price of U308 is currently around US90/lb.

DYLLF: The Final Investment Decision (FID) for Tumas will now be made in March 2025. An upgraded Ore Reserve Estimate on the Tumas Project, which now supports a LOM of 30 years, requires additional work to make a prudent FID.