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Deep Yellow commences with drilling exercise at Reptile Project

Deep Yellow commences with drilling exercise at Reptile Project

Deep Yellow in an announcement this week said that a 10,000m RC drilling programme commenced on the Reptile Project within EPLs 3496 and 3497.

According to Deep Yellow, the drilling has a two-fold focus: Assess approximately 40km of the 100km of highly prospective palaeochannel system that has been delineated and remaining to be tested. This system includes the Tumas 3 discovery which was made in 2017. Seven semi-regional target zones have been defined for testing.

Secondly, test the extensions of Tumas 1, 2 & 3 deposits for future resource enhancement. The target zones isolated for the 2018 drilling investigations are a direct consequence of the successes of the 2017 work on EPLs 3496 and 3497. These positive results confirmed the high prospectivity of the palaeochannels, newly interpreted using the available historic exploration data base with the discovery of the Tumas 3 deposit. Over 100km of channel systems were identified as inadequately tested for Langer Heinrich style calcrete deposits.

Drill line spacing on these priority target zones will be 400 to 800m drilled on 200m intervals. Drilling is expected to be of an average depth of 30 to 40m. This program is expected to be completed by the end of June 2018.

This drilling programme is expected to delineate new mineralised areas over the 40km of palaeochannels that will be tested in this phase and some of which may be, if time allows, followed up in the current program.

The drilling programme is continuing the exploration push to increase the inferred resource base of the calcrete type uranium mineralisation in palaeochannels towards the target of circa 150Mlb U3O8 in the grade range of 350 to 500ppm U3O8.


 

 

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.