Deep Yellow (DYL) H2 2024 earnings summary

Executive summary

• Advanced uranium developer with dual-pillar growth strategy, targeting 15 Mlb pa production by mid-2030s, leveraging flagship Tumas (Namibia) and Mulga Rock (WA) projects.

• Achieved key milestones: Tumas mining licence granted, Ausenco appointed EPCM, Nedbank mandated for project finance, and $250M equity raised in May 2024.

• Entered S&P/ASX 200 index in June 2024, reflecting increased market cap and investor support.

• Ongoing technical studies at Mulga Rock and exploration success at Alligator River; focus on ESG and sustainability reporting.

Financial highlights

• Net loss after tax for FY24: $10.6M (FY23: $10.1M loss).

• Cash and at-call deposits: $177.5M (FY23: $40.8M); term deposits: $80M.

• Net assets: $614.6M (FY23: $374.6M).

• Revenue from contracts: $15,949; interest and other income: $3.88M.

• Capitalised exploration and evaluation expenditure: $352.8M (FY23: $339.6M).

Outlook and guidance

• Tumas FID targeted for late 2024, with operations to commence in late 2026.

• Mulga Rock revised DFS due late 2025, aiming to enhance project economics.

• Well-funded for ongoing project development and exploration, with strong uranium market fundamentals.