Ann: Tenement Applications adjoin Tumas Tenements, page-3

It's hard to disagree, bloodred.  But maybe not just DYL - the muted response to the news shows a lack of investor focus.  Right now,

• U3O8 prices are inching up daily (over $28/lb now);
• MEY has completed a capital raise which provides it with the ammunition to undertake a good drill program once the exploration license is granted;
• MEY has already conducted rigorous tests on DYL's Tumas mineralisation and, in the right pricing environment, the U-pgrade beneficiation process was shown to increase the potential valuation of that resource considerably: so much so, that the management of the two companies entered into a definitive and binding Technology Licence Agreement whereby MEY will provide its U-pgradeTM technology and expertise to Deep Yellow for use towards development of the Tumas Project in Namibia in return for a Licence Fee for the entire life of the project. As per the press release of Sep 2016,  this license fee equates to around 25% of the NPV of the Tumas project under a range of possible development scenarios.
• And, if I understand it correctly, we now have a scenario where the source of the Tumas uranium deposit likely originates from themountains to the east.  MEY’s EPL(A) license applications are upstream ofthe DYL Tumas deposit, with the uranium having likely flowed through the areacovered by MEY’s EPL applications. 

The implications are good.  There are reasonable grounds to consider that uranium mineralisation will be confirmed in due course, and if the grades are consistent with those at Tumas, MEY could then develop its own resource without having to rely on decisions of a partner exploration company.  This would transform the fortunes of the company.

Let's face it, all Namibian U3O8 exploration companies need far higher prices to have viable projects.  MEY's U-pgrade beneficiation process allows for significant cost reductions in the exploitation of surficial calcrete deposits.  You would think that some dot-joining would occur at the Board level of some of these companies and start making some moves to improve shareholder value all round!

Something doesn't look right:  either DYL is over valued or MEY is undervalued.

G