2229 GMT - The risk of new delays to Deep Yellow's Tumas project helps to keep Jefferies at underperform on the aspiring uranium producer. Deep Yellow aims to make a final investment decision on Tumas this month, while arranging a debt package and finding offtake partners. Current pre-production capex is estimated at US$360 million, plus US$51 million in pre-production capitalized operating costs, and US$30 million in working capital. "We see risk of elevated capex and project delays to the 2026 first production timeline," says analyst Daniel Roden. "Deep Yellow has also stated the development of Tumas will only be pursued with an unquantified supportive uranium price to provide the best shareholder returns." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 09, 2025 18:29 ET (22:29 GMT)
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