As foreshadowed in previous announcements, the Board of Deep Yellow Limited (
The Board has agreed to set the process in place to consolidate the issued capital of the Company on the basis of one (1) share for every twenty (20) shares currently held. This consolidation is subject to approval by an ordinary resolution of shareholders to be considered at a specially convened General Meeting, the date of which will be advised in a Notice of Meeting to be sent to all shareholders once documentation is finalised.
Securing John Borshoff as Managing Director in late October has resulted in multiple benefits flowing to the Company starting with attracting the strategic relationship with affiliates of the Sprott Group ("Sprott") (
The Board believes that the share consolidation is in the best interest of the shareholders and the Board has confidence that the proposal will gain the support of its major shareholders.
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
Contact
MARK PITTSCompany Secretary
Phone: +61-8-9286-6999
Email: info@deepyellow.com.au
www.deepyellow.com.au
Related Companies
Related Industry Topics: