Uranium co lists on NSX

DEEP Yellow Limited, an Australian uranium exploration company, yesterday dual listed on the Development Capital Board of the Namibian Stock Exchange (NSX).

Deep Yellow is exposed to the Namibian mining industry through its wholly owned local subsidiary, Reptile Uranium Namibia. Deep Yellow became the 41st company to list on the local bourse and the third under the banner of the DevX, and is expected to add N$1,2 billion to the over N$1 trillion market capitalisation of the NSX.Reptile Uranium’s exploration blocks cover an area of around 3 000 square km near Langer Heinrich in the Erongo Region.The company’s four Exclusive Prospecting Licences (EPL) are all situated between Swakopmund and Walvis Bay.The surging price of uranium, currently around US$90/lb, coupled with numerous planned nuclear power projects internationally, has seen an influx of exploration companies seeking uranium deposits in Namibia.The exploration company had N$380 million in cash on its balance sheet on September 30 2007.NSX Vice Chairman David Nuyoma welcomed the listing of Deep Yellow, saying the NSX played an important role in the development of the local economy.The NSX overall index has decreased by 24 per cent since October and 15,4 per cent since the end of last year.The Johannesburg Stock Exchange (JSE) decreased by 19,4 per cent and 12,2 per cent over the same period.Deep Yellow became the 41st company to list on the local bourse and the third under the banner of the DevX, and is expected to add N$1,2 billion to the over N$1 trillion market capitalisation of the NSX.Reptile Uranium’s exploration blocks cover an area of around 3 000 square km near Langer Heinrich in the Erongo Region.The company’s four Exclusive Prospecting Licences (EPL) are all situated between Swakopmund and Walvis Bay.The surging price of uranium, currently around US$90/lb, coupled with numerous planned nuclear power projects internationally, has seen an influx of exploration companies seeking uranium deposits in Namibia.The exploration company had N$380 million in cash on its balance sheet on September 30 2007.NSX Vice Chairman David Nuyoma welcomed the listing of Deep Yellow, saying the NSX played an important role in the development of the local economy.The NSX overall index has decreased by 24 per cent since October and 15,4 per cent since the end of last year.The Johannesburg Stock Exchange (JSE) decreased by 19,4 per cent and 12,2 per cent over the same period.