DYL has released its 1QFY25 quarterly report which highlighted an increase in Mineral Resources, advancement of the Tumas project towards FID (scheduled for late 4QCY24), drilling at Mulga Rock and ongoing financing discussions. FID on Tumas, in addition to updates on the funding solution, in 4QCY24, are key near-term catalysts. DYL has a seasoned management team who has experience in developing uranium mines in Namibia. We believe the timing of Tumas development and ramp-up coincides with tightness in the uranium market, driving economic upside from our near-term bullish price outlook
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