Deep Yellow Limited · ASX:DYL
Deep Yellow — Bell Potter Emerging Leaders Conference 2023
29 slides from Deep Yellow's conference presentation, Sep 13, 2023
Slide 1: Building a Global Uranium Company
Building a Global Uranium Company Investor Presentation Bell Potter Emerging Leaders Conference (12-13 September 2023) John Borshoff - MD/CEO 13 September 2023 DYL: ASX / NSX (Namibia) DYLLF: OCTQX www.deepyellow.com.au
Slide 2: Disclaimer
Disclaimer Past performance and readers should not place undue reliance on such forward-looking information. The Company disclaim any intent or obligations to finalise, check, update or revise any forward-looking statements whether as a result of new This presentation has been prepared by Deep Yello
Slide 3: Deep Yellow - Building on Five Guiding Principles
Deep Yellow - Building on Five Guiding Principles ● Decarbonisation ● Uranium Supply Shortage ● Nuclear Demand Outstripping Supply ● Capturing Growth ● ESG Focus 3
Slide 4: Best Positioned Uranium Mid-Cap Globally
Best Positioned Uranium Mid-Cap Globally Deep Yellow has the global diversity seen as a necessity by off-takers – located in two Tier-1 mining jurisdictions Significant production capability - once in production, Deep Yellow will be the largest pure-play uranium producer on the ASX - production capa
Slide 5: Globally Diversified with Two Flagship Projects
Globally Diversified with Two Flagship 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 Northern Ter
Slide 6: Balanced & Optimised Team
Balanced & Optimised Team Steady deliberate program upgrading board with appropriate Board experience and skill levels to ensure operational, financial and governance excellence Proven leadership understanding what needs to be developed for Leadership uranium supply in the post-Fukushima reconstruct
Slide 7: Capital Structure - Performance FY23
Capital Structure - Performance FY23 1.60 70 FY23 1.40 Market Cap Range $450M - $910M 60 1.20 50 1.00 A$/Share1 40 0.80 30 0.60 20 0.40 Merger Completion Tumas DFS Completion August 2022 Feb 2023 10 0.20 Share Price U3O8 Price 0 0 22-Aug-20 22-Feb-21 22-Aug-21 22-Feb-22 22-Aug-22 22-Feb-23 22-Aug-23
Slide 8: Uranium is Critical for a Clean Energy Future
01 Uranium is Critical for a Clean Energy Future www.deepyellow.com.au
Slide 9: The Global Equation - Zero Emission needs to address many areas
The Global Equation - Zero Emission needs to address many areas World Electricity Production by Source1 Other Coal Gas Oil Hydropower Nuclear Wind Solar Renewables 36% 23% 3% 15% 10% 6% 4% 3% 4% renewables on global scale Total Global Energy 175,000 TWh (2022) More electricity Equation – required 75
Slide 10: Land Footprint & Productivity of Nuclear vs Solar & Wind
Land Footprint & Productivity of Nuclear vs Solar & Wind Capacity Factors by Energy Source One x 1GW Nuclear Reactor equivalent To generate ● 3 Wind farms (each of 1GW) same Nuclear 93% ● 4 Solar farms (each of 1GW) electrical power as a Impact on land use & productivity – Land use for 1GW 1GW nucle
Slide 11: Nuclear Essential - net zero nuclear initiative to triple nuclear by 2050
Nuclear Essential -net zero nuclear initiative to triple nuclear by 2050 Nuclear becoming the clear winner and the uranium supply industry is well-placed for significant growth and value uplift in global energy transition Most major economies in full alignment demanding more nuclear. This hasn’t hap
Slide 12: Strong World Nuclear Power Reactor Growth
Strong World Nuclear Power Reactor Growth Status July 20231 Nuclear Reactors Globally US (94); France (56); China (55) Proposed Reactors 321 436 Russia (37); Japan (33); Korea (25); Other (136) Reactors Planned Reactors Under 111 Construction China (45); Russia (25); 59 India (12); Canada (11); Chin
Slide 13: Demand - Governments Pivot Towards Nuclear
Demand - Governments Pivot Towards Nuclear Increasing global ● Sweden changes policy from “100% renewable electricity concern for Energy production” to “100% Fossil Free” Security, ● Belgium reverses decision to shut down reactors in 2025, now Inability for extends to 2036 renewables to deliver, ● B
Slide 14: WNA Sept'23 Market Study - exposes huge challenges to meet new demand
WNA Sept’23 Market Study - exposes huge challenges to meet new demand ● Large, long-life operations have ceased production Degradation of ● No new production without significant uranium price uranium supply incentivisation (US$65/lb-$75/lb+) industry over time ● Global mining houses (Rio Tinto) have
Slide 15: Nuclear Fuel Cycle Under Pressure
Nuclear Fuel Cycle Under Pressure Fabrication o Increasing demand for conversion and enrichment o SWU trading at a services causing 10 year high – US$134/SWU extraordinary price increases o Inevitable pricing pressure will +300% move to uranium price as high increase Enrichment Reactor demand works
Slide 16: Project Pipeline Positioned for Growth and Value
02 Project Pipeline Positioned for Growth and Value www.deepyellow.com.au
Slide 17: Tumas Project, Namibia - Overview
Tumas Project, Namibia - Overview ● Uranium and mining friendly jurisdiction Page 1 of 2 ● Ore Reserves of 67.3Mlb increased by 120% in CY2021 o 22.5-year LOM achieved ● DFS completed January 2023 ● EIA submitted April 2023 and grant of Mining Lease expected late Q3/CY2023 ● Further 10+ years to LOM
Slide 18: Tumas Project Analysis (US$)
Tumas Project Analysis (US$) Project Financials (Ungeared): Real Unit 65/lb 77/lb1 85/lb Commentary Project operating life Years 22 22 22 U3O8 Produced Head grade is Mlb 64 64 64 340ppm U3O8 (av) Gross revenue: total $M 4,272 5,166 5,548 Operating margin (EBITDA) $M 1,790 2,654 3,024 Annual prod
Slide 19: Mulga Rock Project – 100%
Mulga Rock Project – 100% ● Located in the Tier-1 mining jurisdiction of Western Page 1 of 2 Australia ● Globally significant Mineral Resource of 71.2Mt @ 570ppm for 90.1Mlb U3O8, positioning Mulga Rock as one of the largest undeveloped uranium projects in Australia ● Only uranium project in WA to r
Slide 20: Mulga Rock Project FY23 Activities
Mulga Rock Project FY23 Activities ● Test work on 63 deep geo-metallurgical Page 1 of 2 samples - expected completion early 2024 Princess ● Resource/reserve upgrade and ore variability drilling : 656 holes/36,647m, completed August 2023 ● Updated MRE to Indicated status Q4/2023 Ambassador West Ambas
Slide 21: 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 22: Looking Ahead - a Differentiated Company
03 Looking Ahead - a Differentiated Company www.deepyellow.com.au
Slide 23: 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 24: Opportunities Through Consolidation
Opportunities Through Consolidation ● Nuclear demand expected to increase dramatically 2030-2060 ● Outside the 2 majors (Cameco, Kazatomprom) the supply industry fragmented and largely dysfunctional ● Supply sector needs massive re- shaping to meet identified growth challenges ● Deep Yellow well-pos
Slide 25: Key Workstreams for next 12 Months
Key Workstreams for next 12 Months Page 1 of 2 TUMAS PROJECT MULGA ROCK ALLIGATOR RIVER M&A • Q3 2023 - Further focused test • Q3 2023 – 656 air core drill • Q2 2023 - New resource • Ongoing - Continued focus work continuing to optimise program completed for estimate for Angularli Deposit on accreti
Slide 26: Best Pure Play Uranium Investment
Best Pure Play Uranium Investment Page 1 of 2 Deep Yellow is successfully establishing the right platform Uranium market backdrop creates exceptional opportunities in the post-Fukushima supply reconstruction era Growth initiatives are led by an experienced board, proven leadership and team, and are
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
Slide 28: Appendix Mineral Resources
Cut-off Tonnes U 3 O8 U 3 O8 U 3 O8 Resource Categories (Mlb U3O8) Appendix Deposit Category (ppm U 3 O8 ) (M) (ppm) (t) (Mlb) Measured Indicated Inferred Mineral Resources BASEMENT MINERALISATION Omahola Project - JORC 2012 1 INCA Deposit ♦ Indicated 100 21.4 260 5,600 12.3 - 12.3 - Notes: INCA Dep
Slide 29: Appendix Mineral Resources
Appendix Deposit Category Cut-off Tonnes U 3 O8 U 3 O8 U 3 O8 Resource Categories (Mlb U3O8) Mineral Resources (ppm (M) (ppm) (t) (Mlb) Measured Indicated Inferred U 3 O8 ) Northern Territory Angularli Project - JORC 2012 1 Angularli Inferred 1,500 1.37 10,900 14,917 32.9 - - 32.9 Notes: Angularli P
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