John has been with the company since 2016 and under his leadership Deep Yellow has grown from a junior explorer to an ASX200 company, on the cusp of becoming a multi-asset, multi-geographic uranium producer.
In addition to his invaluable leadership at Deep Yellow, the board would like to sincerely thank John for his five decades of contributions to the global uranium industry. His work extends from exploration to mining and production, including the establishment of Paladin Energy Limited. John has been influential in shaping the wider uranium industry through his work in many industry forums and has been a compelling advocate for the role of nuclear energy in the global challenge of decarbonising the economy.
John leaves an incredible legacy at Deep Yellow, having built one of the most experienced uranium mining leadership teams in the industry.
The board wishes John well and thanks him for his commitment to Deep Yellow over the past nine years and the broader uranium industry throughout his long career.
The global search for a replacement Managing Director and Chief Executive Officer for Deep Yellow is at an advanced stage and a further announcement will be made when this process is completed.
In the meantime, Deep Yellow’s Chief Financial Officer (CFO), Mr. Craig Barnes, will lead the organization as acting Chief Executive Officer, working closely with the Board of Directors to ensure a smooth transition. Mr. Barnes is an experienced mining executive and has held the role of CFO since August 2024. He has more than twenty years of experience in the resources sector, including five years as CFO of Paladin Energy Limited.
In addition, the non-executive Chairman of the Board, Mr. Chris Salisbury, will serve in an interim role as Executive Chairman to support Mr. Barnes and the organization during this transition period. Chris has extensive business leadership experience from his long career at Rio Tinto, including Chief Executive Energy Resources of Australia, and Managing Director of Rossing Uranium.
Mr. Barnes will receive a temporary effort allowance of $20,156 per month for the period he serves as Acting Chief Executive Officer. Mr. Salisbury will receive a temporary effort allowance of $6,875 per month for the period he serves as Executive Chairman. The effort compensation is in addition to the normal salary/director compensation, if applicable; all other terms and conditions of employment for Mr Barnes and Mr Salisbury remain unchanged.
Deep Yellow’s board remains confident and excited about the future of Deep Yellow as the company works towards the strategic vision of transitioning to a multi-project global uranium producer through the near-term final investment decision of the flagship Tumas Project, continuing the final feasibility study process for the Mulga Rock Project and further exploration progress and development at the Alligator River Project.
About Deep Yellow Limited:
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully developing a dual-pillar growth strategy to create a global diversified Tier-1 uranium company producing 10+Mlb per year
The company’s portfolio contains the largest uranium base of any ASX-listed company and its projects offer geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects: flagship Tumas, Namibia (final investment decision expected in H1 24) and MRP, Western Australia (progressing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well positioned for further growth through the development of its highly prospective exploration portfolio – ARP, Northern Territory and Omahola, Namibia, with continued mergers and acquisitions focused on high-quality assets, should opportunities arise that best suit the company’s strategy.
Led by a best-in-class team of proven uranium mine builders and operators, the company is advancing its growth strategy at a time when the medium- to long-term need for nuclear power is becoming the only viable option to deliver baseload power and achieve zero-emission targets.
Importantly, Deep Yellow is on track to become a reliable, long-term uranium producer, able to offer production optionality, security of supply and geographic diversity.
Source:
Deep yellow limited
Contact:
Investors:
Chris Salisbury, Executive Chairman
T: +61 8 9286 6999
E: chris.salisbury@deepgold.com.au
Media:
Cameron Gilenko
T: +61-466-984-953
e: cgilenko@citadelmagnus.com
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