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Deep Yellow Limited (ASX:DYL) Tumas Project Development Update - Positive Progress
Deep Yellow Limited (ASX:DYL) Tumas Project Development Update - Positive
About this update from Deep Yellow Limited
[{"type":"text","content":"Perth, Australia, July 21, 2025 - (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (HAM:JMI) (OTCMKTS:DYLLF) is pleased to provide an update on early works infrastructure development and detailed engineering activities at its flagship Tumas Project (Tumas or the Project) situated within ML237 (refer Figure 1). \nHIGHLIGHTS \n- Detailed engineering, procurement and operational planning continuing as planned \no Procurement of key packages representing 92% of direct capital well-advanced \no Certified vendor data for long lead items and critical associated packages have been ordered \n- Contracts at an advanced stage for key power and water utility services and associated infrastructure \n- Early works program preparing site for commencement of major onsite works is largely completed \n- Operational readiness plan is being detailed to prepare for pre-production mining, process plant commissioning and operation ramp-up to full production \n- Project financing continues to be advanced \nDeep Yellow made a strategic decision to delay its Final Investment Decision (FID) on Tumas in April 2025 (refer ASX announcement 8 April 2025), due to the Company's fundamental belief that the uranium price did not, at that time, reflect reasonable value to shareholders and was not at a level that incentivised greenfield project development. The subsequent rise in market prices has vindicated that decision and strategy. \nNotwithstanding the delay to FID, the Company continues to prepare the Tumas Project for construction execution and operations, until such time as market conditions do reflect what the Company considers a reasonable return and allows Deep Yellow to fully capitalise on the Project's upside potential. \nDeep Yellow Managing Director/CEO Mr John Borshoff commented: \"The decision to defer FID on Tumas was a strategic and value-driven call, and one that has been vindicated by the subsequent strengthening of the uranium market. We made the best decision for the Company and our shareholders, positioning ourselves to fully capitalise on Tumas in a stronger market. \n\"In the meantime, we continue to make solid progress across all key areas of project development, including engineering, procurement, site preparation, operational readiness and financing. This approach ensures we are well prepared to move decisively when the time is right and ...