Third uranium firm to list on the Namibian bourse Third uranium firm to list on the Namibian bourse
News - Daily News Windhoek, Namibia - Australian quoted junior uranium explorer and miner, Deep Yellow Ltd., said Thursday it will make the list on the Namibian Stock Exch a nge 23 January to reaffirm its commitment to the Namibian economy.
Deep Yellow said in a statement, made available to PANA here, that it will issue 1.1 million ordinary shares and be listed under the Mining sector of the Namibi a n Stock Exchange (NSX)'s development index.
The listing would make Deep Yellow the first Australian uranium firm to debut on the local bourse's development index.
It is, however, not the first uranium firm to list on the NSX.
Canadian firm Xemplar Energy Corporation last year listed on the NSX as Namibia becomes a hotbet of uranium mining companies.
Another Canadian firm, Forsys Metals Corporation, also listed in 2007 on the dev elopment Index. Forsys is developing the Trekkopje uranium project which is expected to s tart commercial production in 2009.
Deep Yellow said it had already received the necessary regulatory approvals from the central bank, the Bank of Namibia (BoN), the financial regulator in Namibia
and the listing committee of the NSX.
Also quoted on the Australian Stock Exchange (ASX), Deep Yellow said the listing is aimed at confirming its commitment to Namibia and to the development of its w holly owned uranium projects in the country.
The listing will also provide the firm with a window to tap into Namibia slush f unds as well as South African investors broadening its capital base, management s aid.
"The listing will also allow Namibian and South African investors and institutio ns to own Deep Yellow shares as current exchange control restrictions prevent su c h ownership, and create greater public awareness of both the company and the ura n ium market in southern Africa," said Leon Pretorius, Deep Yellow Managing Direct o r.
Windhoek - 17/01/2008 |