Deep Yellow shares slide on Tumas investment decision delay
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The news: Uranium explorer Deep Yellow has delayed a final investment decision on its flagship Tumas project in Namibia to March, sending its shares lower.
The numbers: Deep Yellow shares slid more than 11% to $1.06 in early trading on the ASX following the news.
The context: The company said it was delaying consideration of the final investment decision due to delayed costings and quotes for equipment and construction.
It is also refining the overall project schedule, although this will not have a material impact on the project’s overall timeline and objective of commencing production in late 2026, it said.
However, the company said it will only pursue the execution phase of the Tumas project once it believes the uranium price can be maintained at long-term levels that provide the best return to shareholders.
The source: ASX announcement
