Deep Yellow Limited · ASX:DYL
Deep Yellow — Investor Presentation (February 2024)
27 slides from Deep Yellow's investor presentation, Feb 27, 2024
Slide 1: Building a Global Uranium Company
Building a Global Uranium Company Strongly Placed and Perfectly Timed Investor Presentation John Borshoff – Managing Director/CEO 27 February 2024 DYL: ASX / NSX (Namibia) DYLLF: OCTQX www.deepyellow.com.au
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Deep Yellow Limited ABN 97 006 391 should note that past performance of the Company, including in relation to the looking statements. There can be no assurance that the Company’s plans for 948 (Company or Deep Yellow) for general information purposes
Slide 3: Global Uranium Sector Market Cap Recovery (2011-2024)
Global Uranium Sector Market Cap Recovery (2011-2024) - Fukushima: Heavy Impact on Supply Sector Combined Market Cap: Top 20 Listed Uranium Companies (US$ bn)(1) Total Market Value with Annual Uranium Spot Price Post-Fukushima: Sector Turnaround Underway Recent Spot Price ranging US$95-US$106/lb 50
Slide 4: Capital Structure – ASX300 Company - Performance FY23/Early FY24
Capital Structure – ASX300 Company - Performance FY23/Early FY24 1.80 120 Market Cap Range A$450M - A$1.06B 1.60 FY23 100 1.40 1.20 80 A$/Share1 1.00 60 0.80 0.60 Tumas Re-costed DFS 40 December 2023 0.40 Vimy Merger Tumas DFS Completion 20 Completion August 2022 February 2023 0.20 Share Price U3O8
Slide 5: Best Positioned Uranium Mid-Cap Company Globally
Best Positioned Uranium Mid-Cap Company Globally Deep Yellow has global diversity, which is seen as a necessity by off-takers – Tier-1, long-life projects located in two Tier-1 mining jurisdictions Significant production capability - once in production, Deep Yellow will be the largest pure-play uran
Slide 6: Uranium is Critical for a Clean Energy Future
01 Uranium is Critical for a Clean Energy Future www.deepyellow.com.au
Slide 7: Demand - Governments Pivoting Increasingly Towards Nuclear
Demand - Governments Pivoting Increasingly Towards Nuclear Increasing Inability for Global footprint Never such a top-down global concern renewables to expanding with ever- resurgence since the for energy deliver increasing number of 1970s oil shock security governments turning to nuclear power • Ea
Slide 8: Supply Under Major Pressure - Uranium Price Primed for Recovery
Supply Under Major Pressure - Uranium Price Primed for Recovery Degradation of Limited Long period of stagnation Exposes huge challenges uranium greenfield creating concerns to meet new demand supply developments industry unable to even with Page 1a of major 2 industry over opportunities respond to
Slide 9: Nuclear Fuel Cycle Under Severe Pressure - Greenfield projects needed!
Nuclear Fuel Cycle Under Severe Pressure - Greenfield projects needed! Increasing demand for conversion and enrichment services causing extraordinary price increases SWU trading at a 10 year high – US$155/SWU Fabrication Inevitable pricing pressure is moving uranium price, as high demand works d
Slide 10: Strong Team and Well-Positioned for Further Growth
02 Strong Team and Well-Positioned for Further Growth
Slide 11: Best-in-Class Board and Team
Best-in-Class Board and Team Executive Leadership Team Chris Salisbury** Non-Executive Chairman A HIGHLY EXPERIENCED TEAM WITH A PROVEN TRACK RECORD Page 1 of 2 John Borshoff* CEO / MD ● Proven and successful track record of exploring, developing, Gillian Swaby * Executive Director financing and ope
Slide 12: Globally Diversified with Two Advanced, Long-Life Projects
Globally Diversified with Two Advanced, Long-Life Projects • Project portfolio provides diversity by asset, stage of Advanced-stage development and geographic location Early-stage to continue organic pipeline • Largest uranium resource base of any Omahola Alligator River ASX-listed company Namibia N
Slide 13: Diversified and Advanced Project Pipeline
03 Diversified and Advanced Project Pipeline www.deepyellow.com.au
Slide 14: Flagship Tumas Project, Namibia - Overview
Flagship Tumas Project, Namibia - Overview ● Uranium and mining friendly jurisdiction. 20–year Mining Licence granted effective September 2023 Page 1 of 2 • Allows the Project to progress towards production, establishing Tumas as the 4th uranium mine in Namibia ● Ore Reserves of 67.3Mlb increased by
Slide 15: Tumas Project Analysis (US$), Re-costed December ‘23
Tumas Project Analysis (US$), Re-costed December ‘23 Project Financials (Ungeared): Real Unit 75/lb 81/lb1 90/lb Key Commentary(2) Project operating life Years 22 22 22 ● Head grade of U3O8 Produced Mlb 64 64 64 340ppm U3O8 (av) Gross revenue: total $M 4,950 5,314 5,908 ● Annual production Operating
Slide 16: Mulga Rock Project, Western Australia – 100% DYL
Mulga Rock Project, Western Australia – 100% DYL ● Project acquired through Vimy Resources Page 1 of 2 merger in August 2022 ● Located in the Tier-1 mining jurisdiction of Western Australia, with granted Mining Leases ● Globally significant Mineral Resource of 115.1Mt @ 410ppm for 104.8Mlb U3O8, pos
Slide 17: Mulga Rock East – Strong Resource Upgrade
Mulga Rock East – Strong Resource Upgrade Page 1 of 2 ● Extensive resource/reserve upgrade and ore variability drilling programs completed August 2023 Princess ● Significant uranium, critical minerals (Cu, Ni, Co, Zn) and magnetic rare earth elements (notably Nd/Tb/Dy/Pr) resources identified Ambass
Slide 18: Exceptional Exploration Upside
Exceptional Exploration Upside ALLIGATOR RIVER PROJECT, NORTHERN TERRITORY - 100% OMAHOLA BASEMENT PROJECT, NAMIBIA - 100% Page 1 of 2 ● Located in the world-class uranium province of Alligator ● Measured, Indicated and Inferred Resource base of 125Mlb River, which hosts some of the highest-grade ur
Slide 19: Looking Ahead - A Differentiated Company
04 Looking Ahead - A Differentiated Company www.deepyellow.com.au
Slide 20: Two Substantial, Advanced Uranium Projects to Produce +7Mlb
Two Substantial, Advanced Uranium Projects to Produce +7Mlb Page 1 of 2 Initial Investment Production Mulga Rock Project Tumas Project 1 2028 3.5 3.5 2026 2.0 3.0 3.6 3.6 3.6 1.5 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Tumas − 22.25YR LOM Mul
Slide 21: Key Workstreams
Key Workstreams Page 1 of 2 TUMAS PROJECT MULGA ROCK ALLIGATOR RIVER M&A • Mid 2024 – 6-year Proven • 26 Feb 2024 – Strong • Q2 2024 - Desktop • Ongoing - Continued focus Reserve drill out and results from new resource prospectivity appraisal to on accretive consolidation resource reporting upgrade
Slide 22: Best Positioned Pure-Play Uranium Investment
Best Positioned Pure-Play Uranium Investment Page 1 of 2 Deep Yellow is successfully establishing the right platform at the right time Uranium market backdrop creates exceptional opportunities in the post- Fukushima supply reconstruction era and taking advantage of a bifurcated market Experienced Bo
Slide 23: Appendix 1 Uranium Equivalents
Appendix 1 Uranium Equivalents (refer Mulga Rock East slide 17) U3O8Eq grades are calculated as follows: Page 1 of 2 U3O8Eq = U3O8 + 0.093xCo + 0.028xCu + 0.074xNi + 0.118xREO + 0.009xZn • Those factors were calculated using the assumptions presented in the table below and, based on testwork complet
Slide 24: Appendix 2(a) Namibian Mineral Resources
Appendix 2(a) Namibian Mineral Resources Notes: • Figures have been rounded and totals may reflect small rounding errors. • XRF chemical analysis unless annotated otherwise. • # Combined XRF Fusion Chemical Assays and eU3O8 values. • eU3O8 - equivalent uranium grade as determined by downhole gamma l
Slide 25: Appendix 2(b) Australian Mineral Resources
Appendix 2(b) Australian Mineral Resources Notes: • 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. • # Combined XRF Fusion Chemical Assays and eU3O
Slide 26: Appendix 2(c) Ore Reserves
Appendix 2(c) Ore Reserves Notes: Figures may not add due to rounding. 1 ASX Release 2 Feb 2023 ‘Strong Results From Tumas Definitive Feasibility Study’ and ASX Release 12 Dec 2023 ‘DFS Review Strengthens Tumas Project’s Flagship Status as a Long-Life, World-Class Uranium Operation’. 2 ASX Release 4
Slide 27: For further information
For further information: T: +61 8 9286 6999 E: info@deepyellow.com.au W: www.deepyellow.com.au : @deepyellowltd : deep-yellow-limited 27