Deep Yellow Limited · ASX:DYL
Deep Yellow — Merger or Acquisition (March 2022)
32 slides from Deep Yellow's merger presentation, Mar 31, 2022
Slide 1: News Release: Investor Presentation for proposed merger
NEWS RELEASE 31 March 2022 For personal use only INVESTOR PRESENTATION We attach the Investor Presentation for the proposed Deep Yellow Limited and Vimy Resources Limited merger. JOHN BORSHOFF Managing Director/CEO Deep Yellow Limited This ASX announcement was authorised for release by Mr John Borsh
Slide 2: Deep Yellow and Vimy Merger
For personal use only Deep Yellow and Vimy Merger T HE EM ER GI NG I NDEP EN D ENT L EA D ER I N T HE GL O B A L U R A N I UM S ECT O R 31 MARCH 2022 Not for release to US wire services or distribution in the United States
Slide 3: Disclaimer
Disclaimer assurance that the Company and Vimy will be able to confirm the presence of mineral deposits, For personal use only Disclaimer Past performance that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s or Vimy’s mineral propert
Slide 4: Transaction Overview and Rationale
For personal use only Transaction Overview 1 and Rationale 3
Slide 5: Transaction Overview
1 Transaction Overview For personal use only ✓ Merger of Deep Yellow and Vimy to be effected via a Vimy Scheme of Arrangement (Scheme) under which Deep Yellow will acquire 100% of the fully paid ordinary shares in Vimy (Transaction) ✓ Vimy shareholders to receive 0.294 new fully paid ordinary shares
Slide 6: A Sector Defining Transaction
1 A Sector Defining Transaction Compelling Market Fundamentals Market Demand & Supply(1) For personal use only ktU 120 439 operable reactors 100 477 reactors under construction, planned or proposed Uranium industry is well positioned for significant potential value 80 ✓ uplift 60 40 Potential sancti
Slide 7: Increased Global Scale and Significance
1 Increased Global Scale and Significance ✓ Merger creates a uranium company with 389Mlbs(2) of attributable resource inventory − one of the largest in the world For personal use only ✓ The Merged Group should benefit from the financial strength and stability of the combined platform ✓ Strong balanc
Slide 8: Overview of Transaction Rationale
1 Overview of Transaction Rationale 1 2 For personal use only Two Quality Assets Leveraged to the Uranium Price Recovery Re-rating Potential with Increased Scale & Capital Markets Profile ✓ Two advanced uranium assets, with annual production capacity potential ✓ The Merged Group is estimated to have
Slide 9: Overview of Transaction Rationale (cont'd)
1 Overview of Transaction Rationale (cont’d) 3 4 For personal use only Highly Credentialled, Proven Uranium Team Significant Growth Optionality through Exploration ✓ Combined Board and management team have a track record of successfully ✓ The Merged Group will have a highly prospective portfolio of
Slide 10: Overview of Transaction Rationale (cont'd)
1 Overview of Transaction Rationale (cont’d) 5 6 For personal use only Platform for Further Growth and Consolidation Strong Commitment to Sustainability and ESG ✓ The Merged Group provides a company of scale with a platform able to pursue ✓ The Merged Group recognises the importance of Health and Sa
Slide 11: Indicative Timetable
1 Indicative Timetable* For personal use only Scheme Booklet anticipated to be dispatched to Vimy Shareholders in late May / early June 2022 with completion targeted in July 2022 2022 May June July First Court Hearing Dispatch Scheme Booklet to Vimy Shareholders Scheme Meeting Second Court Hearing E
Slide 12: Advanced Assets Ready for Development
For personal use only Advanced Assets 2 Ready for Development 11
Slide 13: Globally Diversified, Independent, Advanced-Stage Portfolio
2 Globally Diversified, Independent, Advanced-Stage Portfolio Geographically diversified operations across two Tier-1 uranium mining jurisdictions, For personal use only distinguishing the Merged Group from other single asset uranium juniors Advanced-stage Early-stage to continue Omahola organic pip
Slide 14: Two Advanced World Class Projects
2 Two Advanced World Class Projects For personal use only Completing Feasibility Studies by End CY22 / CY23 to Have Two Projects in the Development Pipeline Mulga Rock Project (Western Australia) Tumas Project (Namibia) ▪ Vimy completed a DFS in 2018 with a “Refresh” completed in 2020; ▪ DFS is conf
Slide 15: Located in Highly Attractive Uranium Jurisdictions
2 Located in Highly Attractive Uranium Jurisdictions For personal use only Australia Namibia ✓ Tier-1 uranium jurisdiction with a mature regulatory ✓ Australia is the Tier-1 mining jurisdiction of choice environment and a highly supportive government ✓ Economically developed and regulated region ✓ 4
Slide 16: Project Overview – Mulga Rock
2 Project Overview – Mulga Rock For personal use only Mulga Rock Project - 100% Project Location Page 1 of 2 ✓ Located in the Tier-1 mining jurisdiction of Western Australia ✓ Globally significant Mineral Resource of 71.2Mt @ 570ppm for 90.1Mlbs U3O8 positioning Mulga Rock as one of the largest uran
Slide 17: Project Overview – Tumas Channel
2 Project Overview – Tumas Channel For personal use only Tumas Project - 100% Reptile(1) 26 Year LOM Achieved with Strong Page 1 of 2 Upside • Tumas Project is similar to the Langer Heinrich deposit and very well understood ✓ Ore Reserves of 68.4Mlbs increased by 121% in CY2021 by the Deep Yellow te
Slide 18: Exploration Pipeline Building Production Organically
For personal use only Exploration Pipeline 3 Building Production Organically 17
Slide 19: Australian Project Pipeline
3 Australian Project Pipeline For personal use only Alligator River Project, Northern Territory – 100% Project Location ✓ Located in the world class uranium province of Alligator River, which hosts some of the highest grade uranium deposits in Australia ✓ High-grade, unconformity uranium-gold deposi
Slide 20: Namibian Exploration Pipeline
3 Namibian Exploration Pipeline Omahola Basement Project - New Focus For personal use only • Measured, Indicated and Inferred Resource base of 125Mlbs at 190ppm U3O8 across the Ongolo, MS7 and Inca deposits • 50km prospective zone with strong potential for additional discoveries • Shallow drilling p
Slide 21: Ambassador Pit North Works Summary
For personal use only Ambassador Pit North Works 4 Summary 20
Slide 22: Compelling Opportunity to Build the Leading Global Uranium Platform
4 Compelling Opportunity to Build the Leading Global Uranium Platform Unique Opportunity to Unlock High Value with the Emergence of a Major Global Platform Able to Attract Investors, Capital and Large Off-takers For personal use only Key Benefits to Shareholders ✓ ✓ Merger creates a uranium company
Slide 23: Appendix
For personal use only Appendix 22
Slide 24: Board Composition of the Merged Group
Board Composition of the Merged Group Highly Experienced Leadership Team of Seasoned Industry Veterans(1) For personal use only Highly experienced mining Chris executive, with over 30 Salisbury years of global experience across senior strategic and Non-Executive operational roles for the Chairman Ri
Slide 25: Enhanced Scale and Financial Profile
Enhanced Scale and Financial Profile Strong Combined Financial Profile, Increased Scale, and Enhanced Global Significance For personal use only Deep Yellow Vimy Pro-Forma Share price A$ 0.970 0.240 N/A (as of close 25 March 2022) No. of shares on issue M 388(1) 1,171(2) 733(3) (fully diluted) Market
Slide 26: Future M&A Strategy
Future M&A Strategy For personal use only Our M&A Strategy to Acquire Further Assets ✓ Merger to provide a platform for disciplined, value-accretive acquisitions ✓ Establishing a multi-project, global uranium company aiming to sustain up to 10+ Mlbs per annum with multi-mine capability ✓ Dual pillar
Slide 27: Deep Yellow JORC Mineral Resource Table
Deep Yellow JORC Mineral Resource Table For personal use only (released to ASX on 9 March 2022) Figures have been rounded and totals may reflect small rounding errors. XRF chemical analysis unless annotated otherwise. eU3O8 – equivalent uranium grade as determined by downhole gamma logging. # Combin
Slide 28: Vimy Resources Mulga Rock Uranium Resource
Vimy Resources Mulga Rock – Uranium Resource (released to ASX on 11 July 2017) JORC Mineral Deposit Resource Resource category Cut-off Grade Tonnes (Mt)(1) U3O8 (ppm)(2) U3O8 (Mlbs) (ppm U3O8) Resource For personal use only Mulga Rock East Indicated 150 2 820 3.6 Princess Inferred 150 1.3 420 1.2 Ta
Slide 29: Peer Comparison Information – Mineral Resource Estimates
Peer Comparison Information – Mineral Resource Estimates Total 100% 100% 100% 100% Total Att. Att. Att. Attributable Company Stage Measured Indicated Inferred Resources(3) Measured Indicated Inferred Information Source For personal use only Resources(3) (Mlbs) (Mlbs) (Mlbs) (Mlbs) (Mlbs) (Mlbs) (Mlb
Slide 30: Peer Comparison Information – Mineral Resource Estimates (cont'd)
Peer Comparison Information – Mineral Resource Estimates (cont’d) Total 100% 100% 100% 100% Total Att. Att. Att. Attributable Company Stage Measured Indicated Inferred Resources(2) Measured Indicated Inferred Information Source For personal use only Resources(2) (Mlbs) (Mlbs) (Mlbs) (Mlbs) (Mlbs) (M
Slide 31: Peer Comparison Information – Production Capacity
Peer Comparison Information – Production Capacity For personal use only Company Company Code Announcement Title Announcement Date Ownership Production (attr.) Berkeley Energia BKY-AU Investor Presentation 18 October 2018 100% 4.4 Bannerman Energy BMN-AU Etango 8 Accelerated Pathway to Development 3
Slide 32: For personal use only
For personal use only Deep Yellow Limited Vimy Resources Limited For further information: For further information: T: +61 8 9286 6999 T: +61 8 9389 2700 E: info@deepyellow.com.au E: info@vimyresources.com.au W: www.deepyellow.com.au W: www.vimyresources.com.au : @deepyellowltd : @Vimy_Resources : de