Deep Yellow (DYL) H2 2024 earnings summary

Executive summary

• Achieved significant milestones, including Tumas Project mining licence grant and major equity raise of $250M, supporting project development and working capital needs.

• Advanced Tumas Project towards Final Investment Decision (FID) in late 2024, with operations targeted for late 2026.

• Upgraded mineral resources at Tumas and Mulga Rock, increasing uranium and critical minerals inventory.

• Entered S&P/ASX 200 index, reflecting increased market capitalization.

Financial highlights

• Net loss after tax for FY24 was $10.6M, compared to $10.1M loss in FY23.

• Cash and at-call deposits at year-end totaled $177.5M, with $80M in term deposits.

• Net assets increased to $614.6M from $374.6M year-over-year.

• Share capital rose to $838M following the equity raise.

Outlook and guidance

• Tumas Project FID expected in Q4 2024, with commissioning planned for H2 2026.

• Mulga Rock revised DFS scheduled for completion in late 2025, aiming to enhance project economics.

• Continued focus on organic growth through exploration and potential inorganic growth via acquisitions.