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Uranium hopeful commences with the accelerated work programme to advance Reptile Project

Uranium hopeful commences with the accelerated work programme to advance Reptile Project

Uranium hopeful, Deep Yellow Limited has started with the accelerated work programme as announced on 24 September to advance the company´s Reptile Project in Namibia and determine, in a staged manner, the economic feasibility of the Tumas channel uranium deposits.

The company in a SENS announcement last week said the increased tempo of the work programme has necessitated the contracting of two additional drilling rigs and additional personnel to supervise their operation.

The incoming drill rigs comprise a second RC rig to accelerate exploration and resource drilling and a diamond rig specialising in soft core recovery to help with more detailed geological evaluation and to obtain sampling for metallurgical testing, they added.

“Originally, 10,800m of RC drilling were planned for the whole of the FY19 field season. This has now been upgraded to 22,000m of RC drilling and 600m of diamond drilling. It is scheduled to complete 10,800m of RC drilling by December 2019 along with 600m of diamond drilling. A total of 4,089m of RC drilling for 261 holes had been completed by 12 October 2019,” the mining outfit said.

According to Deep Yellow, the overall programme to December is aiming to increase the Inferred Resource inventory in the Tumas 1 East area and define areas for resource drilling west of Tumas 3 West in the Tumas Central and Tubas areas

An upgraded Mineral Resource statement is expected to be released early November, they added.

Meanwhile, the additional 11,200m of RC drilling, required to complete the revised FY19 programme, is planned for March to June 2020 to further increase the Inferred Resource inventory and convert some Inferred Resources to the Indicated Resource (JORC, 2012) status.

“The DDH drilling programme is required to confirm the current geological model of the Tumas paleochannel uranium mineralisation in detail and provide sufficient sample material to complete a metallurical test program for the planned Pre Feasibility Study in 2020,” they added.

According to the mining outfit drilling in 2019 is anticipated to be completed by early December.


 

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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.