12 July 2010other● Neutral
Notice that a video of the managing director's 29-30 June investor presentation is available online. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 June 2010joint venture update▼ Bad
Partner Krucible reports Pilgrim drilling (37 holes, 3,339 m) found no high-grade copper; best was 11 m at 0.21% copper. Krucible has now reached 80% of the JV. An induced polarisation survey is planned. Mostly Krucible's own news (Korella phosphate lease).
29 June 2010investor presentation● Neutral
Roadshow presentation repeating known facts, including a target to produce uranium in Namibia in 2013-14. Market capitalisation is shown as about A$174m at 15.5 cents (16 June). Net cash is A$33.8m as at 31 March. No new results.
16 June 2010drilling result▲ Good
Testing of 2008 core from Tubas (Namibia) shows a high-grade magnetite concentrate of about 70% iron, low silica and uranium under 10 ppm. Recovery is about 16% against a preferred 20-25%. Follow-up drilling is under way; a new, non-uranium thread.
26 May 2010resource reserve update▲ GoodMajor
First resource for Aussinanis (Namibia): 35 Mt at 237 ppm for 8,203 t U3O8 (18.1 Mlb), a very large, low-grade deposit. Group resources rise to 42,744 t. A conceptual study is being considered. Inca and Tubas-Oryx updates are due in the September quarter.
20 May 2010drilling result▲ GoodMajor
Drilling at Inca (Namibia) has widened the main mineralised area to about 1,500 x 500 m, versus 500 x 500 m in the 22 April resource. Best result is 11 m at 2,907 ppm. An expanded resource is due in the September quarter.
17 May 2010drilling spud● Neutral
Partner Krucible has started drilling at Pilgrim (Mt Isa), a 2,000-3,000 m first-pass programme to about 70 m depth, with results expected within six weeks. Krucible is operator and can earn 80% from Deep Yellow for $400,000. Continues the mid-May plan.
13 May 2010regulatory community update▲ Good
DYL says, on its understanding, the proposed Australian Resources Super Profits Tax should not apply to its Namibian projects, as it is intended only for resources mined in Australia. Resource updates for Omahola and Tumas are expected in the September quarter.
10 May 2010investor presentation● Neutral
Australian Uranium Summit presentation repeating known facts: about A$34m cash, group JORC resources 34,541 t U3O8, pre-feasibility study due Q3 2010 for about 1,000 tpa at Omahola. Market capitalisation is given as about A$230m at 20 cents. No new results.
4 May 2010asset acquisition disposition▼ BadMajor
Toro Energy told DYL it will not exercise its option to buy Napperby (NT), which would have cost about A$57m. Toro said the project's economics do not justify it, and DYL rejected an alternative Toro proposal. Control reverts to DYL.
4 May 2010asset acquisition disposition▼ BadMajor
DYL confirms Toro's Napperby option lapses 4 May 2010, so the project returns fully to DYL. DYL will evaluate the best-value option, possibly packaging it with other NT tenements. The 3,351 t Inferred resource covers about half the historic mineralised area.
3 May 2010admin correction● Neutral
Cover letter explaining the typo fix in the quarterly report highlights (400 ppm, not 710 ppm) and noting the full report has been re-released. No substance beyond the correction.
3 May 2010admin correction● Neutral
Re-release of the March quarterly report correcting a typo in the highlights: the ALAR13 interval is 89 m at 400 ppm, not 710 ppm. No other change.
29 Apr 2010drilling result▲ GoodMajor
Discovery of high-grade alaskite-hosted uranium at Tubas Alaskite, Namibia: hole ALAR13 returned 89 m at 400 ppm from 128 m, including 11 m at 710 ppm. Mineralisation runs 102 m to end of hole. More reconnaissance drilling will follow; disequilibrium results are due in 6-8 weeks.
22 Apr 2010resource reserve update▲ GoodMajor
First JORC resource for Omahola, Namibia: 29.8m t at 287 ppm for 8,583 t (18.9m lb) U3O8. Inca holds 6,366 t at 400 ppm; Tubas Red Sand 2,217 t at 160 ppm. Resolves the delayed MSA estimate; the pre-feasibility study is due in the October quarter 2010.
15 Apr 2010joint venture update▲ Good
Partner Krucible reports more copper-gold rock chip results at Pilgrim (EPM 15072), up to 28.1% copper, extending the zone to 1.3 km. Drilling is planned from mid May 2010. DYL is not the reporter; Krucible can earn 80% for $400,000.
31 Mar 2010resource reserve update▼ Bad
MSA's first draft of the initial Inca resource estimate is delayed from 26 March to the week of 14 April 2010. No resource figure yet. Further Inca drilling results are promised at the end of April.
10 Mar 2010joint venture update▲ Good
Partner Krucible reports further copper results at Pilgrim (EPM 15072), up to 36.2% copper, defining a zone over 900 m long. Krucible plans more surface work and ground geophysics, then drilling. DYL is not the reporter; Krucible can earn 80% for $400,000.
9 Mar 2010half year report● Neutral
Half-year to 31 December 2009: net loss $2.2m (versus $12.4m a year earlier) and exploration spend $8.8m. Cash and liquid assets were $36.3m. The 2009-10 exploration budget remains $20.0m. No new resource figures.
1 Mar 2010director officer appointment● NeutralMajor
Patrick Mutz's appointment as Managing Director took effect 1 March 2010, and Dr Pretorius left the board but stays as head of Reptile Namibia. Mutz's contract runs to June 2014 with $490,500 fixed pay; options are subject to shareholder approval.
26 Feb 2010drilling result● Neutral
Namibian drilling: a new Inca-area hole found 5 m at 434 ppm, 800 m northeast of Inca South, and Tumas infill hit 17 m at 672 ppm. Nova JV drilling found only low-grade results (best 9 m at 182 ppm). Nine rigs are active.
25 Feb 2010joint venture update▲ Good
SNC-Lavalin appointed for the Omahola pre-feasibility study, Mintek for metallurgy and Softchem for environmental studies. Tubas Red Sand testwork concentrated 90% of uranium into 22% of the feed. Inca resource estimate is due in 3-4 weeks; Inca Deeps hit 11 m at 596 ppm.
1 Feb 2010director officer appointment▲ GoodMajor
Patrick Mutz, ex-Alliance Resources MD, will become Managing Director from 1 March 2010, fulfilling the Australian MD search promised on 13 May 2009. Dr Pretorius moves to lead Namibian subsidiary Reptile, focused on the Omahola project.
19 Jan 2010drilling result▲ Good
Infill drilling between Oryx and Tumas in Namibia returned high-grade uranium, best 10.5 m at 2,034 ppm eU3O8. Rigs are moving south toward the existing Tumas resource area; completion and a JORC resource estimate depend on how many holes are needed.
14 Jan 2010resource reserve update▲ GoodMajor
First Mount Isa JORC resource from Coffey: 3.64m t at 420 ppm for 1,540 t U3O8 (300 ppm cut-off) across Isa West, Queens Gift and Slance; 2,430 t at 340 ppm at a 200 ppm cut-off. Short-to-medium target is 5,000-8,000 t.
13 Jan 2010drilling scheduled● NeutralMajor
2010 Namibian plan: finish JORC resources for Inca, Tubas Red Sand and Aussinanis, feasibility and mining licence work, and possibly sell iron oxide to Rossing mid-year. DYL says low-grade 150 ppm resources fall short of the earlier 50,000 t target, and viable grades are nearer 400 ppm.
10 Dec 2009joint venture update▲ Good
Partner Krucible reports a new possible copper-gold target at Pilgrim (EPM 15072), with rock chips up to 30.7% copper and 10.25 g/t gold. Krucible can earn 80% by spending $400,000 over 4 years. Further work is planned for 2010; DYL is not the reporter.
9 Dec 2009asset acquisition disposition▲ GoodMajor
The $1.4m purchase of Ewen (EPM 14916) and Yamamilla (EPM 14281) from Matrix's receivers settled after Ministerial consent, giving DYL 100%. The Matrix uranium JV is terminated. This completes the deal agreed on 6 May 2009.
1 Dec 2009director officer appointment● Neutral
Director interest notices: 5,000,000 unlisted options at 55.1c expired on 30 November for Pretorius, Kavanagh, Swaby and Greene, under their own terms. No share trades. Administrative.
19 Nov 2009investor presentation● Neutral
AGM presentation restating known activities. It cites about A$40m cash and liquid assets and 1,124,451,958 shares. 2010 plans include Omahola environmental studies and possible Inca iron production; Coffey is already working on five Mount Isa resource estimates.