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Reptile Mineral Resources and Exploration (Pty) Ltd

Reptile Mineral Resources and Exploration (Pty) Ltd (RMR) is a wholly owned subsidiary of Australian Deep Yellow Limited (DYL), an advanced stage uranium exploration company which is listed on both the ASX and NSX. In Namibia, RMR manages and operates a group of Namibian subsidiary companies which hold the following interests:

  • ML 237, and EPLs 3496, 3497 and 3498, strategically located amongst the major uranium mines in the Erongo region covering an area of more than 1,100 km2 in total.
  • A 65% interest in the Nova Joint Venture (JV) Project (EPLs 3669 and 3670). The JV partner is JOGMEC, the minerals exploration arm of the Japanese government, funding N$45,000,000 over a 4-year period.

Following the completion of the Pre-Feasibility Study (PFS) for it’s Tumas project in early 2021, Reptile Mineral Resources and Exploration immediately commenced with a Definitive Feasibility Study (DFS) for the project. Intensive resource upgrade drilling continued resulting in an ore reserve increase for Tumas, and an increase in the life-of-mine.

Ongoing work, the February 2023 release of the DFS, and environmental approvals received resulted in the Ministry of Mines and Energy issuing Mining Licence (ML) 237 in December 2023. The license is valid for 20 years, expiring in September 2043, and allowing Reptile to progress towards production, establishing Tumas as the next uranium mine in Namibia. The Tumas 3 mineral resource comprises Indicated Mineral Resources of 27 500 t at 325ppm U3O8. The total Indicated Mineral Resources within ML 237 account for some 50 000 t at 265ppm U3O8. A re-costing study of the DFS released in December 2023 fully validated the CAPEX and OPEX assumptions and forms the basis of the ongoing project debt financing discussions. Reptile plans to develop the Tumas Mine to produce 1 600 t of U3O8 per annum, with an anticipated life of mine in excess of 30 years.

In addition, a follow-up drill program was completed at Barking Gecko on EPL 3669 towards the end of 2023. The positive results are now allowing for first economic valuations considering the recent, rapid increase in uranium prices. Drilling also continued exploring for basement related uranium targets both on the wholly owned Reptile Mineral Resources & Exploration licences and on those owned in joint venture with JOMEG of Japan.