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Deep Yellow resumes drilling programme on uranium tributaries in Tumas area

Deep Yellow resumes drilling programme on uranium tributaries in Tumas area

Deep Yellow Limited this week reported that it had recommenced with the drilling programme on the Reptile Project within EPLs 3496 and 3497 and held by its wholly-owned subsidiary Reptile Uranium Namibia.

The company on the SENS platform said the drilling has a two-fold focus: Follow-up resource drilling to test for resource upgrade of other specific uranium rich tributaries identified in the area east of Tumas 1 deposit and preliminary testing of a high priority palaeo channel zone at Tumas Central, west of Tumas 3 deposit.

The company said positive results returned from the July to November 2018 drilling programme confirming the high prospectivity of the palaeo channels as evidenced by the discovery of the uranium-rich seven channel tributary system identified in the Tumas 1 East area.

“Some of these channels that were followed up with resource drilling in November 2018 are the basis of a new resource estimate currently in evaluation and expected to be delivered late March 2019,” they added.

According to the explorer, drill line spacing on these priority target zones will be 100m to 200m drilled on 100m intervals. Drilling is expected to be of an average depth of 20 to 30 metres. This programme is expected to be completed mid-April 2019.

Meanwhile the drilling programme is continuing the exploration push to increase the inferred resource base of the calcrete type uranium mineralisation in palaeo channels to the target of approximately 100-150Mlb U3O8 in the grade range of 300 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.