Deep Yellow (DYL) Q4 2026 TU earnings summary

Executive summary

• Advanced Tumas Project in Namibia towards Final Investment Decision (FID) with key milestones achieved, including 79% completion of detailed engineering and completion of bulk earthworks.

• Awarded two major civil and concrete construction contracts post-quarter, enhancing construction readiness and de-risking execution.

• Progressed value optimisation and feasibility studies at Mulga Rock Project in Western Australia, focusing on process simplification and technical improvements.

• Established King River Camp at Alligator River Project, Northern Territory, and entered agreement to acquire 50% of Cooper Creek JV, consolidating exploration position.

• Maintained strong cash position of A$160.0 million at quarter-end, supporting ongoing project advancement.

Financial highlights

• Cash and cash equivalents stood at A$160.0 million as of 30 June 2026, down from A$171.6 million in the previous quarter.

• Incurred A$11.2 million in development expenditure, mainly for Tumas Project engineering, procurement, and site readiness.

• Exploration and evaluation expenditure totaled A$2.8 million across Namibian and Australian projects.

• Issued 139,036 fully paid shares on exercise of Performance Rights; 149,101 Performance Rights forfeited and cancelled.

Outlook and guidance

• FID for Tumas Project targeted for Q4 2026, contingent on market conditions.

• Mulga Rock Project sequencing maintained to commence production approximately two years after Tumas.

• Exploration focus in FY2027 on advancing S-Bend and Aussinanis Prospects in Namibia and drilling at Alligator River.

• Uranium market outlook remains strong, with rising prices and expanding demand for nuclear energy.