DEEP YELLOW LIMITED (DYL)
Share Price Analysis and Chart

05/06/2024

1

Speculative Buy

$1.90

31.94%

Bell Potter assesses the domestic uranium companies, including the operations from Paladin Energy, Bannerman Energy ((BMN)), Deep Yellow ((DYL)) and Elevate Uranium ((EL8)) off the back of a recent visit to Namibia.

The analyst highlights the quality of infrastructure, including roads, power, water availability, and port capacity as impressive

Bell Potter highlights the Tumas uranium project is the most advanced within the Deep Yellow portfolio of 121Mlbs U3O8 across three deposits, notes the analyst.

The brokers points to three essential price catalyts for Deep Yellow as the production offtake is expected in the 2H2024; debt financing in 3Q2024, and the final investment decision in 4Q2024.

Speculative Buy rating and $1.90 target. Bannerman Energy and Elevate Uranium are not rated.

FORECAST
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -1.80 cents.
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -4.80 cents.

22/04/2024

1

Speculative Buy

$1.92

33.33%

Following a successful $250m capital raising, Deep Yellow is equipped to aggressively progress the Tumas development says Canaccord Genuity. 

The March quarter saw the company commence a 650 hole drilling program, aimed at defining six years of proven reserves, commence the tendering and selection process for an EPCM service provider, and commence offtake marketing and financier discussions.

The company expects to appoint an EPCM contractor and commence detailed engineering in the second quarter of the calendar year.

The Speculative Buy rating and target price of $1.92 are retained.

FORECAST
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -1.96 cents.
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.36 cents.