Each one in plain English, with the numbers worked through for a shareholder.
26 Aug 2008security holder rights change● Neutral
Board proposes 6.1m unlisted options at 27.5c, expiring 1 July 2011, for executive directors Pretorius and Kavanagh, subject to shareholder approval. It also issued 5.05m employee options at 27.5c. Routine remuneration; 250,000 options lapsed.
Matrix clarifies NW Queensland JV terms: DYL must spend $3m by 28 Feb 2009 for 51%, then may pay $3m for a further 29%. It can buy out individual resources at 15% of in-ground value. Restates known terms.
Mt Isa results: Conquest Central RC drilling hit 14 m at 1,008 ppm, extending the earlier 22 m at 575 ppm zone, which remains open to the south. Mt Isa West trench samples reached 4 m at 8,557 ppm. Namibia: Tumas resource drilling closes end August.
Matrix Metals, DYL's partner in the NW Queensland JV, re-releases DYL's Conquest Central results, including 14 m at 1,008 ppm uranium oxide. It adds no new information.
Toro reports its 2008 Napperby drilling at about 7,500 m, with 800 more holes planned and good continuity of mineralisation southwest of the existing resource. A resource update stays planned for Q4 2008, with a scoping study in the second half. Toro still holds its option over DYL's project.
Appendix 5B for June quarter: cash fell to $57.1m from $61.0m, with net operating and investing outflow of $3.9m. No debt; $3.5m exploration outflow forecast next quarter. Interests in two 50% tenements (EL10401, EL22923) were relinquished.
Paladin exercised 12.5m unlisted DYL options for $1.01m on 28 July 2008, lifting its holding to 15.3% (171.6m shares). A substantial holder notice; no change to company operations.
Toro doubled the Napperby Inferred resource to 4.6 Mt at 305 ppm for 1,420 t U3O8, from DYL's 670 t estimate. Toro holds the option to buy the project from DYL; a further update is planned for Q4 2008, later than the June-quarter target.
1-15 July Namibian results include Tumas 4 m at 1,032 ppm, Tubas M1 16 m at 637 ppm, and trench samples up to 1.86% U3O8. Isa West trench resampling gave 3.5 m at 3,409 ppm; RC drilling to be designed. Incremental results, no resource yet.
Australian Uranium Conference presentation repeats known Namibian and Queensland results. Cash is about A$60m and market cap about A$250m at 23c. A trial leach of Tubas red sand showed 94% uranium recovery.
June quarter: 40,806 m of RC drilling in Namibia with six RC rigs and one diamond rig, spend about A$1m a month approved to end 2008. Queens Gift XRF assays 23 m at 634 ppm; WCP phosphate deal noted.
16 June 2008asset acquisition disposition▲ GoodMajor
WCP Resources agreed to earn all non-uranium minerals on DYL's EPM 16007 (Mt Isa) for $100,000 of WCP shares upfront, plus $250,000 of shares if it keeps the interest after 12 months. DYL keeps the uranium rights.
Tubas M1 uraniferous magnetite drilling, first found in March, returned 849 ppm eU3O8 over 11 m within 59 m at 237 ppm. A sixth RC rig is now drilling it; similar anomalies B and C will be drill tested shortly.
Tumas palaeochannel hole returned 853 ppm U3O8 over 20 m, and the Tubas trench gave up to 7,875 ppm in 1 m samples (1,430 ppm over 9 m). Trench is free-digging; about 4,000 samples will take 2-3 months to assay. Supports the Namibian resource drive.
First Queens Gift diamond holes (Mt Isa) returned 21.0 m at 893 ppm eU3O8 and 24.4 m at 513 ppm, following the May start of drilling. Separately, old data show phosphate on Sherrin Creek EPM 16007, best 4.3 m at 14.8% P2O5; DYL will talk to interested parties.
Aussinanis RC drilling of an airborne-EM channel found shallow low-grade mineralisation, with logged grades of 231-291 ppm eU3O8 over about 4-6 m. Tubas bulk-sample trenching and Tubas magnetite grid drilling have started; Queens Gift diamond drilling continues.
Toro (Napperby option holder) began 2008 resource drilling, up to 1,800 aircore and 300 sonic holes, aiming to cover at least 70% of the mineralised area in five months. Updated resource is targeted for end of June quarter; current resource is 670 t U3O8.
Sydney presentation repeats known results and the 45,000-55,000 t target. Market cap is about $250m at 23c, down from $330m at 30c in March; cash about $62m. Namibia budget is A$12m and Australia A$6m for 2008.
Tumas palaeochannel drilling returned a best chemical assay of 1,722 ppm U3O8 over 13 m, plus logged intercepts up to 550 ppm over 8 m. Queens Gift diamond drilling has started (2,000 m planned). Toro's Napperby drilling averaged 469 ppm.
March quarter: 2,190 RC holes (26,604 m) drilled in Namibia, with the 50,000-55,000 t target said to remain on track. AEM survey completed; Hellman & Schofield contracted. Queens Gift drilling prepared. Toro's Napperby resource update is now expected in the June quarter.
Drilling has grown from one to five RC rigs. A new palaeochannel was found at Tumas West and Northwest, with best results 902 ppm eU3O8 over 10 m and 500 ppm over 14 m, both from surface. Tubas S-Bend and Aussinanis returned smaller intercepts. Airborne EM survey nearly complete.
Director Gillian Swaby has a margin loan secured by 15 million Deep Yellow shares with Lift Capital, now in voluntary administration; the shares may be under Merrill Lynch's control. She says she is not in default and has started legal action. The company will monitor.
Paydirt uranium conference presentation repeats known Namibian and Queensland results and the 45,000-55,000 t target. Cash and liquid assets are about $64m and market cap about $330m at 30c. Queens Gift diamond drilling is due to start early April.
Half-year to 31 December 2007: net profit $782,864 (prior-year loss $2.86m), after a $1.80m write-down of available-for-sale investments. Exploration spend was $3.8m. Namibian target range is now stated as 45,000-55,000 t U3O8 by end 2008.
Namibian update: a Tubas magnetite diamond hole intersected 229 ppm eU3O8 over 115 m, and Tumas RC drilling found 571 ppm over 8.7 m from surface outside the old Falconbridge area. Alaskite diamond drilling started; airborne EM survey due this week.