Business Briefing: Deep Yellow chairman Tim Netscher
07 May 2014
Pan Pacific Perth
Tim Netscher, Chairman
The Exciting and Unpredictable Life of a Junior Uranium Company: Making Bricks without Straw
Deep Yellow (DYL) is an ASX-listed advanced-stage uranium exploration company. It also listed on the Namibian Stock Exchange (NSX). Its primary focus is in Namibia, where exploration is conducted by its wholly owned subsidiary Reptile Uranium Namibia (Pty) Ltd (RUN). DYL’s JORC Mineral Resource inventory now totals 119 Mlbs U3O8, with 109.5 Mlbs U3O8 in Namibia.
Omahola is the Company’s flagship project, the last remaining independently-owned high grade alaskite project in Namibia, which has a JORC compliant resource of 48.7 Mt at 420 ppm for 45.1 Mlbs U3O8 from three hard rock deposits, namely the Ongolo and MS7 Alaskite deposits and the INCA deposit.
Omahola is at pre-feasibility stage (PFS), with concurrent resource drilling and ongoing exploration along the highly prospective Ongolo – MS7 trend. Early in 2011 interim results for the partially completed PFS showed that the project could be developed with competitive capital and operating costs.
DYL is also advancing its Tubas Sand Project which comprises a low grade aeolian sand deposit that can be upgraded by physical beneficiation. The project resource is 87 Mt at 148 ppm U3O8 for 28.4 Mlbs U3O8.
A plan to supply uranium loaded resin to one of the two existing Namibian uranium producers or supplemental feed to enhance the Omahola Project is being considered.
DYL discovered a substantial area of iron mineralisation on one of its Namibian tenements in 2008. The Shiyela Iron Project has a JORC compliant resource of 115.1 Mt at 19.5% Fe. DYL is undertaking further testwork to update its scoping study with a view to divestment of the project.
In Australia DYL owns the Napperby Uranium Project and numerous exploration tenements in the Northern Territory as well as exploration assets in Queensland, all of which are slated for divestment.
About Guest Speaker:
Tim Netscher has broad-based experience at senior level in the international resources industry, over a period of 40 years, in roles spanning marketing, operations management, project management and business development in Australia, South Africa, the USA and Indonesia.
Previous positions include: Managing Director of Gindalbie Metals Ltd, Senior Vice President of Newmont Asia Pacific, Managing Director of Vale Australia, Senior Vice President and COO of PT Inco, President and COO at QNI Pty Ltd (part of the BHP Billiton group), Executive Director of Impala Platinum Limited and Project Director, Business Development and Exploration at Billiton Plc.
During his career, Tim had two important contacts with the USA: the first being in the mid-70’s, when he worked as a platinum group metals salesman, covering the whole of the US from his base in New York City and the second being just recently as head of Newmont’s Asia Pacific business, reporting into Newmont’s head office in Denver, Colorado. During the first role, platinum group metal auto-catalysts were just taking off in the US as the chosen means to reduce car exhaust pollution and Tim’s customers included the then mighty General Motors and Chrysler.
Tim is currently Chairman of Deep Yellow Ltd and a Non-Executive Director of Aquila Resources Ltd.
American Chamber of Commerce in Australia
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