By Digifin Pty Ltd · About this coverage
Key Points
- Q4 2026 Final Investment Decision target for Tumas withdrawn, citing equity market conditions
- Current civils and concrete works fully funded with current cash reserves
- Approximately 170 tonnes of reinforcing steel installed on site
- Four local Namibian contracts totalling N$42.1M (A$3.7M) awarded
- Updated value case nearing completion, to be released in a project update
About Deep Yellow (ASX:DYL)
Deep Yellow Limited is an ASX-listed uranium company headquartered in Perth. It is developing uranium projects, led by the Tumas project in Namibia, and holds uranium exploration and development assets in Australia.
Deep Yellow (ASX:DYL) has withdrawn its target of a Final Investment Decision on the Tumas uranium project in Namibia in Q4 2026, saying current equity market conditions do not support one, while construction works continue.
The company says the expenditure on the current civils and concrete works is fully funded with current cash reserves and allows further de-risking of Tumas before FID. Two concrete contractors are established on site, with work underway in the Counter Current Decantation (CCD), Clarification, Leach and Beneficiation areas. Approximately 170 tonnes of reinforcing steel have been installed, all seven CCD and one Clarifier centre bosses have been shuttered and approved for concrete pouring, and pre-casting of Retained Earth (RE) wall panels remains on schedule. Four local Namibian contracts totalling N$42.1M (A$3.7M) have been awarded, and Namibia's Environmental Commissioner has renewed the project's Environmental Clearance Certificates. Optimisation work and an updated value case are nearing completion and will be released in a comprehensive project update once finalised.
The release sets no new FID date, does not state the company's cash balance or the cost of the current works, and gives no updated project economics.
Source: Deep Yellow Limited (ASX:DYL), 16 October 2026. Summary content supplied by Digifin Pty Ltd.
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