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Deep Yellow reports significant increase in resource at Tumas 1 East

Deep Yellow reports significant increase in resource at Tumas 1 East

Uranium hopeful, Deep Yellow Limited recently announced an updated Mineral Resource Estimate (MRE) for the Tumas 1 East deposit, located within the Reptile Project.

The company in an announcement on the SENS platform said that resource extension drilling success at Tumas 1 East has produced an Inferred Mineral Resource Estimate of 24.8Mlb grading 319ppm eU3O8, which has delivered an impressive 34% increase in resource growth.

Commenting on the significant increase in resource at Tumas 1 East, Deep Yellow Managing Director and Chief Executive Officer, John Borshoff said, “We continue to successfully develop our Namibian project portfolio.

“Deep Yellow is focused on executing its unique and differentiated dual-pillar strategy, which includes building a project with significant size and scale in Namibia as a critical component of this strategy. We are fortunate enough to have a proven and experienced management team that understand the requirements of building a successful uranium operation – a factor that will continue to contribute to the remarkable turnaround in improving the potential offered by the Reptile Project. This has already enabled us to triple the resource at Reptile in a short space of time, importantly at a discovery cost of around $0.11/lb,” he said.

According to him, results to date strongly justify their increased effort both in exploration to further increase the resource base and in evaluating the economic potential of this project with the initiation of a Scoping Study due for completion in December 2019.

“We fully expect this to progress to commencement of a prefeasibility study in late January 2020,” he said.

The uranium mineralisation defined to date in the Tumas palaeochannel system occurs as three distinct mineralised bodies: the Tumas 1 and 2 deposits, now including the Tumas 1 East tributary extensions, the Tumas 3 deposit and the Tubas Red Sands/calcrete deposits.


 

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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.