Each one in plain English, with the numbers worked through for a shareholder.
18 Mar 2024capital raising announcement▲ Good
Share Purchase Plan opens, letting eligible shareholders buy up to A$30,000 of shares each at A$1.225, the same price as the placement, with no brokerage. Offer closes 8 April 2024 and aims to raise up to A$30M.
15 Mar 2024capital raising announcement▲ GoodMajor
Tranche 1 of the March placement completed: 114,706,334 shares issued at A$1.225 to raise about A$140.5M. Tranche 2 (A$79.5M) awaits a shareholder meeting around late April 2024; a A$30M share purchase plan is also planned.
What it means for a shareholder
115m new shares at A$1.23 to raise about A$141m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Mar 2024half year report● Neutral
Half-year financial report to 31 December 2023. Visible content covers board list, strategy and the Tumas re-costing; no financial figures are visible in the extract. Board now excludes Greene, who retired 23 November 2023.
11 Mar 2024investor presentation● Neutral
Equity raising presentation accompanying the A$220M placement at A$1.225 a share. Visible content is only the title and disclaimers; the raising terms are in the separate announcement.
11 Mar 2024capital raising announcement▲ GoodMajor
Binding commitments to raise A$220M at A$1.225 a share (179.6M shares), a 3.9% discount to the last close. Tranche 2 (A$79.5M) needs shareholder approval; a further A$30M share purchase plan is planned. Pro-forma cash A$279M; funds Tumas, Mulga Rock and M&A.
What it means for a shareholder
180m new shares at about A$1.22 to raise about A$220m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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26 Feb 2024resource reserve update▲ GoodMajor
Mulga Rock East uranium resource rises 26% to 71.2Mlb from 56.7Mlb, though grade falls to 400ppm from 673ppm. Critical minerals inventory up 200-400%. Delivers the resource update flagged earlier; the revised DFS is to start in Q2 2024, with Mulga Rock production targeted for 2028.
14 Feb 2024investor presentation● Neutral
Borshoff presentation at the Bell Potter Unearthed 2024 virtual conference on 14 February 2024. Only the title and disclaimer are visible; no new figures or terms are visible.
12 Feb 2024other● Neutral
Release of the 2023 Sustainability Report for the year to 30 June 2023, the company's fourth and the first prepared to Global Reporting Initiative standards. No new project or financial figures in the announcement.
6 Feb 2024security holder rights change● Neutral
37,476 shares issued on exercise of vested employee performance rights. Minor administrative notice.
5 Feb 2024drilling scheduled▲ GoodMajor
Drilling to start 21 February 2024 at Tumas 3: 650 RC holes (13,000m) plus 10 diamond holes (350m), to convert part of the 67.3Mlb Probable Reserve to Proven for the first 7 years of mining. Supports debt financing; updated reserve planned July 2024.
31 Jan 2024security holder rights change● Neutral
25,892 shares issued on exercise of vested employee performance rights. Minor administrative notice.
24 Jan 2024security holder rights change● Neutral
202,483 shares issued on conversion of vested performance rights, and 62,049 new performance rights issued under the employee incentive program. Routine administrative notice.
18 Jan 2024quarterly activities report● Neutral
Appendix 5B for the December 2023 quarter: operating outflow A$1.093M, investing outflow A$1.555M, financing inflow A$1.986M. Cash ended at A$25.248M, with no debt facilities. Related-party payments totalled A$547k. Routine cash flow filing.
18 Jan 2024quarterly activities report● Neutral
December quarter report restates ML 237 grant, the Tumas 3 upgrade to 66.8Mlb and the US$75/lb re-costing (NPV8 US$570M, FID Q3 2024). Cash fell to A$25.248M from A$27.258M; Mulga Rock critical-minerals resource update due Q1 2024; about A$4.2M receipts expected in FY2024.
17 Jan 2024security holder rights change● Neutral
216,219 shares issued from 39,700 vested performance rights and 176,519 unlisted options exercised. Minor administrative notice.
28 Dec 2023drilling result● Neutral
Nova JV Phase 4: eight RC holes, 1,558m at Barking Gecko North. Best 9m at 382ppm eU3O8. Mineralisation extends about 100m northeast but closes off to the west, where no further work is planned. Next step is assessing economics, consistent with earlier signs it is limited.
22 Dec 2023security holder rights change● Neutral
44,889 shares issued on exercise of vested employee performance rights. Minor administrative notice.
21 Dec 2023security holder rights change● Neutral
Annual incentive issues: 1,677,370 performance rights, 5,531,836 loan shares, and 132,059 shares from vested rights. Includes loan shares to directors approved at the AGM, such as 2,503,554 to Borshoff at $0.996. Routine remuneration administration.
18 Dec 2023regulatory community update▲ GoodMajor
Namibia granted mining licence ML 237 for Tumas, valid 20 years. This resolves the long-pending licence application. It lets Deep Yellow move to project financing, marketing and detailed engineering, with FID still targeted for Q3 2024.
12 Dec 2023material agreement▲ GoodMajor
Tumas re-costing lowers initial capex 6.4% to US$360M from US$384M, and C1 operating cost rises slightly to US$34.36/lb. At a raised US$75/lb base price, NPV8 rises 68% to US$570M and IRR to 27.0%. FID now expected Q3 2024. Resolves the Ausenco repricing.
11 Dec 2023security holder rights change● Neutral
102,513 shares issued on vested performance rights and 3,733 rights lapsed. Routine administrative notice.
29 Nov 2023resource reserve update▲ GoodMajor
Tumas 3 resource upgraded to 66.8Mlb at 300ppm, with Indicated up 11% to 60.6Mlb at 325ppm. Tumas Indicated total rises to 108.5Mlb. Follows the September drilling; a further 30Mlb is sought for a 30+ year mine life, with more drilling planned in FY25.
24 Nov 2023agm notice● Neutral
All AGM resolutions passed on a poll on 24 November 2023, including the remuneration report, Salisbury's re-election, Lindley's election, the updated Loan Share Plan and Awards Plan, and loan shares for Borshoff and Swaby. Support was about 95-98% of votes.
24 Nov 2023investor presentation● Neutral
AGM corporate presentation by Borshoff, 24 November 2023. Only the title and disclaimer are visible; no new figures or terms are visible.
22 Nov 2023investor presentation● Neutral
Presentation by CEO John Borshoff at the RIU Resurgence Conference, 22-23 November 2023. Visible content is promotional positioning, citing production capacity above 7Mlb a year once producing; no new results or figures are visible.
2 Nov 2023other● Neutral
Re-issue of the 30 October Mulga Rock testwork announcement, adding JORC Table 1 Section 2 disclosure on the metallurgical work. Headline results unchanged: uranium recovery above 90%, critical minerals above 70%; testwork ongoing, revised DFS expected to start early 2024.
30 Oct 2023other▲ GoodMajor
Early Mulga Rock metallurgical testwork indicates overall uranium recovery above 90% and critical minerals recovery above 70%, improved on the 2018 Vimy DFS. Company expects a better revised DFS (starting early 2024); testwork is ongoing, so these are preliminary.
25 Oct 2023agm notice● Neutral
Notice of AGM on 24 November 2023. Resolutions include the remuneration report, re-election of Salisbury, election of Lindley, and approval of updated Loan Share Plan (up to 37,920,948 securities) and Awards Plan. Administrative.
24 Oct 2023director officer appointment● Neutral
Non-executive director Mervyn Greene will resign effective 23 November 2023, after 17 years with the company including six as Chairman. Leaves the board with six directors; no replacement mentioned.
18 Oct 2023quarterly activities report● Neutral
September quarter: Tumas FEED paused so higher uranium prices and better metallurgy can be built into the economics, moving toward detailed engineering. Ausenco repricing capex/opex due late November; FID now mid-2024 (was H1 2024), production mid-2026. Cash A$27.3M.
