Deep Yellow has withdrawn its target to make a final investment decision on the Tumas Uranium Project in Namibia in the fourth quarter of 2026. The company said weak equity market conditions were constraining funding options for uranium developers and that it would defer FID beyond the quarter while progressing its funding strategy.
The company said expenditure on current civil and concrete works is fully funded from cash reserves. It reported that about 170 tonnes of reinforcing steel had been installed, with seven CCD and one clarifier centre bosses shuttered and approved for pouring, while contractors carried out concrete mix-design test campaigns.
Deep Yellow said four enabling contracts valued at a combined N$42.1 million, equivalent to A$3.7 million, had been awarded for fuel, raw water, waste management and dust-suppression services. Namibia's Environmental Commissioner also approved renewals of environmental clearance certificates for the project area, powerline and water pipeline in October 2026.
Source: Download DYL official ASX announcement, 2026-10-16.
Photograph from Deep Yellow's Tumas Project update announcement, dated 16 October 2026.