15 Dec 2016director officer appointment● Neutral
Director Mervyn Greene will act as board nominee for a new substantial holder, described only as a sophisticated private investor. This follows Paladin's exit. Holder's identity and stake not stated.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Dec 2016other● Neutral
Paladin sold its entire Deep Yellow shareholding at A$0.01 per share, receiving about A$2.6M. Paladin had been a 14.8% holder. The buyer is not named here; a new substantial holder is implied.
1 Dec 2016investor presentation● Neutral
AGM presentation by Borshoff: 2,476M shares, market cap about A$27M at 1.1c, net cash about A$2.8M. Plans grade-confirmation drilling from Jan–Mar 2017 and 8,000m main drilling Apr–Jun 2017, with new Tumas resource estimates. Largely a plan restating known direction.
28 Oct 2016capital raising announcement▲ GoodMajor
The Sprott placement completed: 321.6M shares issued at 0.44c for A$1.415M, making ECP the largest shareholder. Justin Reid, a former Paladin executive, joins the board as Sprott's nominee. Top-up right still needs an ASX waiver.
What it means for a shareholder
322m new shares at $0.0044 to raise about $1.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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27 Oct 2016security holder rights change● Neutral
25M unvested performance rights held by the departed managing director lapsed under their terms. 10M of his rights remain at board discretion, leaving 24.185M rights on issue. Small clean-up following the leadership change.
25 Oct 2016price query● Neutral
Company answers ASX's 19 October query on its share price and volume rise: it held unannounced information, the new MD and Sprott raising, which it has now released. It confirms compliance with Listing Rule 3.1. Resolves the earlier suspension.
25 Oct 2016resource reserve update● Neutral
Re-release of the 12 October Tumas resource with a required summary of material information added. The estimate is unchanged at 16.6Mt at 366ppm for 13.4Mlb U3O8. Compliance amendment, no new result.
24 Oct 2016director officer appointment▲ GoodMajor
John Borshoff, who founded Paladin Energy in 1993, replaces Greg Cochran as CEO and Managing Director. Sprott affiliate ECP will invest A$1.42M for 321.6M shares at 0.44c (15% of capital), becoming largest shareholder with board nomination rights. Funds support a strategic review of the uranium sector.
24 Oct 2016other● Neutral
ASX lifts the suspension of Deep Yellow shares immediately, following the release of the capital raising and new managing director announcement. Administrative notice with no new business information.
20 Oct 2016other● NeutralMajor
At the company's request, ASX suspended Deep Yellow shares pending an announcement on a proposed capital raising, expected on or before 26 October 2016. Follows a trading halt requested on 19 October. Size and price not yet disclosed.
12 Oct 2016resource reserve update▲ GoodMajor
Tumas resource upgraded to JORC 2012: 16.6Mt at 366ppm for 13.4Mlb U3O8, up 12% from 11.9Mlb, mostly from a higher density assumption. 62% is now Measured. Zone 3 exploration target could more than double it; resolves the pending update.
10 Oct 2016investor presentation● Neutral
Proactive Investors presentation: 2,144M shares, market cap about A$10.7M at 0.5c, net cash about A$2.0M. Pitches Tumas as a fast-track project, noting the licence agreement and an imminent resource update. Mostly repeats known facts.
15 Sept 2016other● Neutral
Corporate governance statement for the year to 30 June 2016, adopted by the board on 8 September 2016. Describes board processes and policies. Administrative, no new business information.
13 Sept 2016other● Neutral
Appendix 4G governance disclosure lodged with the annual report, pointing to the corporate governance statement on the website. Administrative form with no new information.
12 Sept 2016material agreement▲ GoodMajor
Deep Yellow signed a binding Technology Licence Agreement with Marenica for U-pgrade at Tumas, sharing project value 75/25 (DYL/MEY). Deep Yellow funds all development costs. This resolves the pending commercialisation talks; a fast-track feasibility study and resource drilling are being planned.
12 Sept 2016material agreement▲ GoodMajor
Marenica's release of the binding Technology Licence Agreement with Deep Yellow for U-pgrade at Tumas. Licence fee equates to about 25% of project value, sliding with uranium price (US$2.60/lb at US$60/lb, capped at US$4.80/lb). Resolves the pending commercialisation talks.
9 Sept 2016annual report● Neutral
2016 annual report: Tumas testwork completed, with interim results of up to 98% mass rejection and over 82% uranium recovery. Strategy is to make Tumas Namibia's next uranium mine within three to four years. Repeats known facts from earlier releases.
6 July 2016capital raising announcement● NeutralMajor
The Share Purchase Plan closed with 188.15M shares issued at 0.4c, raising $752,600, short of the $1m target. Funds go to further Tumas testwork; shares on issue rise to 2,135,927,004.
What it means for a shareholder
188m new shares at $0.004 to raise about $752,600. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 July 2016well test result▲ Good
Tumas U-pgrade testwork completed on schedule; final report due by end July. Results indicate up to 98% mass rejection and over 82% uranium recovery, implying a concentrate above 13,000ppm. No new numbers beyond the interim results; the final report is the next step.
16 June 2016capital raising announcement● Neutral
Share Purchase Plan closing date extended to 1 July 2016 because some shareholders had not received documents or had mail delays. Price stays 0.4c; new shares are due to be issued 6 July. Timing change only.
31 May 2016joint venture update▲ Good
Marenica's matching release repeats the 31 May Tumas interim figures: up to 98% mass rejected, over 82% uranium retained, concentrate above 13,000ppm. Final detailed announcement expected June 2016. Duplicates the Deep Yellow release.
31 May 2016capital raising announcement● NeutralMajor
Share Purchase Plan at 0.4c per share, a 20% discount, up to $15,000 per holder, aiming for up to $1m via 250M shares. Funds go to more Tumas testwork and working capital. Cash was $2.3m at March quarter end.
31 May 2016well test result▲ Good
Further interim Tumas results: up to 98% of mass rejected while keeping over 82% of uranium, from 368ppm ore to a concentrate above 13,000ppm. Over 95% of carbonate removed. Still interim; testwork continues and the strategy remains conditional on final success.
20 May 2016joint venture update▲ Good
Marenica's own release repeats the Tumas interim results: concentrate above 13,000ppm U3O8, testwork on schedule and budget, finishing end June. Says results will feed talks on a commercialisation agreement with Deep Yellow. Duplicates DYL's announcement of the same day.
20 May 2016well test result▲ GoodMajor
Interim Tumas testwork with Marenica's U-pgrade process: gravity concentrate above 13,000ppm U3O8, with de-slime and carbonate removal exceeding expectations. Testwork due end June, report by end July. Early results only, but encouraging for the intermediate-product strategy.
28 Apr 2016regulatory community update▲ GoodMajor
Namibian licences EPL 3496 and 3497, covering Tumas/Tubas and Omahola, renewed for two years, the fourth renewal. Ripnes (EPL 3499) voluntarily relinquished. Secures the tenure for the current work programs, resolving the pending renewal.
12 Apr 2016investor presentation● Neutral
Proactive Investors presentation: 1,931M shares, market cap about A$13.5M at 0.7c, net cash about A$2M. Pitches Tumas (~350ppm) as near-term development. Mostly repeats known themes; share price has fallen from 1.1c at the November AGM.
11 Mar 2016half year report● Neutral
Half-year to 31 Dec 2015: loss $881,331 (previous period $496,192), exploration spend $433,469. Shares issued to employees and in lieu of director fees. Repeats Tumas testwork with Marenica and Omahola plant location between Ongolo and MS7. No new results.
15 Feb 2016material agreement▲ GoodMajor
Per Marenica Energy's announcement, Deep Yellow signed a Services Agreement for Marenica to run U-pgrade testwork on Tumas ore, due by June 2016. Deep Yellow funds it, estimated at A$265,000. Commercialisation talks are agreed in principle only if the tests succeed.
23 Dec 2015director officer appointment● NeutralMajor
Rudolf Brunovs, a director since August 2007 and former Ernst & Young partner, is appointed interim chairman. Tim Netscher resigns effective 31 December 2015. Completes the chair handover announced in October.