Deep Yellow to seek Namibian listing

Subiaco-based uranium miner Deep Yellow Ltd plans to dual list 100 per cent of its issued ordinary capital on the Namibian Stock Exchange on January 23.

Deep Yellow will issue 1.1 million ordinary shares and be listed under the "Mining" sector of the Development Board of the NSX.

The company has already received the necessary permissions from the Bank of Namibia, the Financial Regulator in Namibia and the listing committee of the NSX.

The listing is scheduled to take place on 23 January 2008 and the sponsoring broker for the secondary listing of the securities on the NSX will be Windhoek-based IJG Securities (Pty) Ltd.

Deep Yellow said its dual listing was aimed at affirming its commitment to Namibia and to the development of its wholly owned uranium projects in that country.

The listing will also allow Namibian and South African investors and institutions to own DYL shares - as current exchange control restrictions prevent such ownership, and create greater public awareness of both the company and the uranium market in southern Africa, the company said.