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deep yellow delays namibian project amid falling uranium prices and market pressures

Deep Yellow has postponed its final investment decision on the Namibian Tumas project due to declining uranium prices, which currently sit around $65 per pound, below the necessary $80.50 threshold for viability. This production delay, with the company not expected to start mining until late 2026, places it at a disadvantage compared to competitors like Boss Energy and Paladin Energy, which are already in production. Analysts express concerns over Deep Yellow's financial outlook, noting declining revenues and increasing expenses, leading to significant short interest in the stock.

Australia 200 rebounds as rate cut expectations boost supermarket and real estate stocks

The Australia 200 index rose 38 points (0.48%) to 7957, poised for its best close in nearly two weeks, buoyed by supermarket stocks following ACCC findings. The real estate sector also gained amid expectations of an RBA rate cut in May, while the financial sector showed signs of recovery. Gold prices retreated from record highs, and Paladin's uranium operations were suspended due to heavy rainfall.

Australia 200 edges higher amid geopolitical tensions and positive jobs outlook

The Australia 200 index is trading slightly higher at 7860, recovering from an intraday high of 7922 amid rising geopolitical tensions following Israel's airstrikes on Gaza. The upcoming jobs report is expected to show stable employment, likely keeping interest rates on hold. In the energy sector, Beach Energy and AGL Energy saw gains, while gold prices hit a record high, benefiting companies like Regis Resources. The banking sector experienced mixed results, and the materials sector remained steady despite fluctuations in coal and iron ore stocks.
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