CHAMWE KAIRA
JPMorgan Chase & Co. has ceased to be a substantial shareholder in Deep Yellow Ltd after reducing its aggregated holding in the uranium developer to 46 976 651 ordinary shares.
The change was disclosed in a Form 605 filing to the Australian Securities Exchange (ASX), with the financial group falling below the substantial shareholder threshold on 24 September 2026.
JPMorgan began the relevant period with an aggregated holding of 55 116 322 Deep Yellow shares before reducing its position by more than 8.1 million shares through a combination of market transactions and the unwinding of securities lending arrangements.
The filing, signed by JPMorgan compliance officer Vasim Pathan on 28 September, shows that several JPMorgan entities were involved in the transactions.
JPMorgan Chase Bank returned shares previously held through securities lending arrangements, while JPMorgan Securities PLC and JPMorgan Securities Australia Limited undertook principal purchases, proprietary sales and loan settlements.
JPMorgan Investment Management Inc. and JPMorgan Asset Management (UK) Limited also recorded changes in their managed holdings.
The disclosed market sales were conducted at prices ranging from A$1.28 to A$1.57 per share.
The securities lending arrangements involved other major financial institutions, including Barclays Capital, Citigroup, BNP Paribas and Morgan Stanley.
JPMorgan had most recently disclosed a substantial shareholder position in Deep Yellow on 14 September 2026.
Deep Yellow is developing uranium projects in Namibia and Australia, including the Tumas Uranium Project in Namibia.
Deep Yellow has awarded two major civil and concrete construction contracts worth a combined figure of N$391 million for its flagship Tumas uranium project in the Erongo region marking another step towards the project’s planned final investment decision (FID) later this year.
The company said the contracts form part of its project execution strategy aimed at securing critical construction capabilities ahead of major development activities while maintaining flexibility as it works towards an anticipated FID in the fourth quarter of 2026.
Following a competitive tender process, Deep Yellow awarded the first contract to Namibia Construction (Pty) Ltd.
The contract, valued at approximately A$18.5 million (N$213 million), covers reinforced concrete construction within the beneficiation, leach feed thickening and tailings transfer facilities.
It also includes the fabrication and installation of precast concrete elements across the processing plant, as well as the design and construction of a reinforced earth retaining wall for the run-of-mine stockpile.
The second contract, valued at approximately A$15.5 million (N$178 million), was awarded to Nexus Building and Civil Contractors (Pty) Ltd.
The scope includes the construction of reinforced concrete foundations, plinths, slabs and associated embedded infrastructure across the balance of the processing plant.
