Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2026farm in farm out agreement● NeutralMajor
Core Energy (ASX: CR3) can earn up to 51% of the Nova JV in Namibia by spending A$5M in two phases, and becomes manager. Deep Yellow's stake would fall from 65% to 31.85%. The licences are described as non-core.
23 Apr 2026drilling result● Neutral
Tinkas infill drilling (133 holes) gave modest results, best 11m at 265ppm eU3O8, lower than the earlier 777ppm hit. More drilling may be needed for a resource. Alligator River seismic at Condor identified five drill targets; drilling targeted Q2 2026.
9 Jan 2026drilling result● Neutral
Drilling 7km of the Tumas palaeochannel west of ML237 (39 holes) found only isolated, low-grade uranium; the company deems it sufficiently drilled. At Alligator River, the Q14 prospect showed an alteration system, best 8m at 458ppm eU3O8.
30 Oct 2025drilling result▲ Good
Drilling at the new Tinkas prospect, next to Tumas on EPL 3496, found shallow uranium; best 11m at 777ppm eU3O8. The company calls the exploration target small, though it could add to the Tumas resource. Follows S-Bend results.
14 Oct 2025drilling result▲ Good
Drilling at S-Bend, next to Tumas on EPL 3497, completed 452 holes and found shallow uranium; best result 8m at 332ppm, with 2m at 1,217ppm. Higher grades sit in four clusters needing more drilling before any resource can be defined.
18 Dec 2024resource reserve update▲ GoodMajor
Tumas Ore Reserve rises 18% to 79.3Mlb at 298ppm (Proved 28.4Mlb, Probable 50.9Mlb). That supports a 30-year mine life, up from the 22.5 years in the 2023 DFS, which was based on 67.3Mlb. This follows the September resource upgrade.
11 Sept 2024resource reserve update▲ GoodMajor
Tumas 3 Measured resource upgraded to 22.5Mlb at 300ppm, meeting the infill drilling target. Tumas 1, 2 and 3 Measured is 38.5Mlb, and total Measured and Indicated for Tumas is 102.1Mlb. The Ore Reserve will now be revised, with the company expecting a life of mine beyond 35 years.
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.
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.
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.
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.
11 Sept 2023drilling result▲ Good
Tumas expansion and infill RC drilling finished: 235 holes, 8,017m west of Tumas 3. Best hit 6m at 721ppm eU3O8; 42 holes found mineralisation averaging 222ppm. Supports a 30+ year mine life versus 22.5 now; resource upgrade due late Q4 2023.
14 Aug 2023drilling result● Neutral
Mulga Rock drilling finished: 656 aircore holes, 36,647m, the infill part (423 holes) slightly above the 399 planned. Updated resource including critical minerals is due Q4 2023; revised DFS to start Q2 2024, a slight slip from earlier 'mid-2023'. Assays take about 3 more months.
10 July 2023drilling progress report● Neutral
Mulga Rock aircore program is 70% complete, but was cut from 50,000m to 37,000m (630 holes) because wider spacing met variability goals. Phase 1 done (233 holes); Phase 2 infill 230 of 399 holes. Updated resource now Q4 2023, previously late Q3.
3 July 2023resource reserve update▲ GoodMajor
Angularli Inferred resource upgraded 27% to 32.9Mlb at 1.09% U3O8 (1.37Mt, 0.15% cut-off), from 25.9Mlb at 1.29%. Supported by the 18 diamond holes drilled in 2022; delivers the update flagged for mid-Q2 2023, now slightly late.
1 May 2023drilling result▲ Good
Final assays from the 18-hole, 6,339m Angularli diamond program (completed 2022) include 15.5m at 0.70% U3O8 and 6.5m at 1.26% U3O8. Drilling extended the deposit near the 25.9Mlb resource; a revised resource is due mid-Q2 2023.
5 Apr 2023drilling scheduled▲ Good
Two big drill programs began: 340-hole, 9,500m RC at Tumas west of Tumas 3 (aiming for 30+ year life; resource update late Q3 2023) and 810-hole, 50,000m aircore at Mulga Rock. Angularli resource update slipped to mid Q2 2023; Tumas EIA submission due 5 April.
31 Mar 2023drilling result● Neutral
Nova JV phase 3 drilling (14 holes, 1,597m) finished 21 February. Best was 10m at 821ppm eU3O8 at Barking Gecko North, but the deeper thick zone was not confirmed. Barking Gecko East, Iguana and Turtle's Neck showed little, so the prospect looks laterally limited.
31 Mar 2023resource reserve update▲ GoodMajor
Aussinanis resource restated to JORC 2012 at a 100ppm cut-off: 28.1Mlb at 171ppm Indicated and Inferred, up from 18Mlb at 237ppm under the older code. At 150ppm it is 16.5Mlb. The change comes from reclassification and cut-off, not new drilling. Tumas ECC now expected H2 2023.
2 Feb 2023resource reserve update▲ GoodMajor
Tumas DFS released, as delayed from late 2022: 4.15Mtpa plant, up to 3.6Mlb uranium a year, 22.25-year life, capex US$372M, NPV8 US$341M, IRR 19.2% at US$65/lb. That is below the earlier 2022 update (NPV US$412M, IRR 23%). Final investment decision targeted H1 2024.
20 Jan 2023drilling result● Neutral
A 63-hole, 4,099m aircore program at Mulga Rock East finished 8 December, supplying samples for critical-minerals metallurgical tests starting Q1 2023. A 600-800 hole program is planned for H1 2023; no assay results yet.
22 Dec 2022drilling result▲ Good
Omahola's 10,000m RC program finished: 77 holes for 4,529m, with three new targets identified. Best is stacked alaskites west of MS7, to get deeper drilling in Q1 2023. Resource unchanged at 125.3Mlb; Inca Far South only showed thin mineralisation.
27 Oct 2022drilling result▲ GoodMajor
An 18-hole, 6,339m diamond program at Angularli (Alligator River, NT, from the Vimy merger) finished, with best hit 11.75m at 1.13% eU3O8 including 5.20m at 2.10%. It extended mineralisation; a resource update, now 25.9Mlb at 1.29%, is due Q1 2023.
21 Oct 2022drilling result▲ Good
Omahola Phase Two is under way: 43 holes (2,950m) done, 30 to go. Best shallow hits were 29m at 189ppm and 28m at 190ppm, 2km north of Inca, extending the fertile zone by 2km. Three Ongolo holes confirmed continuity; resource unchanged at 125.3Mlb.
21 July 2022drilling result▲ Good
Omahola phase one finished (40 holes, 5,252m). Best result was 8m at 512ppm at Inca South, supporting a possible 2km extension; holes west of MS7 were only 100-150ppm, which the company called disappointing. Resource unchanged at 125.3Mlb.
7 Apr 2022drilling result▼ BadMajor
Barking Gecko North Phase 2: 10 RC holes (2,272m) all hit mineralisation above 100ppm, but did not repeat the thick, high grades of diamond hole TN270DDT. Mineralised zone appears limited to about 300m x 200m, though depth potential remains open.
8 Mar 2022drilling scheduled▲ Good
Follow-up drilling at Omahola began 7 March: a two-stage, 10,000m RC program following the late-2021 shallow drilling. Phase 1 is 39 holes for 4,900m, finishing by end April, with the full program expected done by June.
3 Feb 2022resource reserve update▲ GoodMajor
Tumas DFS update: testwork confirms 93.8% recovery, and using the updated 68.4Mlb reserve, mine life rises to 25.75 years from 11.5. Post-tax NPV8.6 rises to US$412M from US$207M, IRR to 23% from 21%. Debt-funder and customer talks begin; DFS still due late 2022.
18 Jan 2022drilling result▲ GoodMajor
Barking Gecko North diamond hole TN270DDT hit 118m at 352ppm over eight intersections, including 9m at 954ppm. This extends the Phase 1 results (TN258RC 70m at 503ppm). Ten more RC holes (~2,500m) start 24 January, results expected early/mid-March.
22 Dec 2021drilling result▲ GoodMajor
Omahola shallow drilling finished on 14 December: 220 holes, 7,426m, with 47% of holes above 50ppm. 34 holes (15%) exceeded 100ppm over 1m. Three priority targets are identified for follow-up drilling; Tumas DFS remains the main focus.
