Customer Stories
Deep Yellow
As a growing uranium producer, this company aims to balance its growth with effective and successful corporate governance.
Customer Stories
As a growing uranium producer, this company aims to balance its growth with effective and successful corporate governance.
Industry: Uranium
Headquarters: Subiaco, Australia
Board Management Goals
Ease of use for board members
Easy access to documents for board members when executive assistant is unavailable
Results
Easy access to what has been uploaded into the portal
Past and current documents always available for review
It’s been a time of exponential growth for Deep Yellow recently.
The Western Australia-based uranium company recently completed a $658M merger with Vimy Resources Limited, the first major transaction in the uranium sector since 2012. This strengthened the company’s development and exploration pipeline through the acquisition of Australian assets Mulga Rock and Alligator River.
Earlier this year, Deep Yellow completed a Definitive Feasibility Study on its flagship Tumas Project in Namibia. The study concluded the project has the potential to be a world-class operation delivering robust returns to shareholders.
Deep Yellow’s vision is to become a leading multi–project uranium producer with a geographically diverse project pipeline
In order to make this all work, it was essential for Deep Yellow to have an easy-to-use, secure board portal to manage all the growth and achieve its goals.
The company shopped for board portals. It didn’t always like what it saw.
“Cost and ease of use were the motivating factors,” said Marie Lykke, Deep Yellow’s executive assistant for corporate services. “Other more complex products were not as user friendly, and (OnBoard) suited our needs.”
As the executive assistant, Lykke has a vested interest in a more efficient board meeting and meeting preparation process. She distributes meeting materials to board members.
Prior to OnBoard’s arrival, Lykke distributed confidential board papers, agendas and minutes via PDFs and emails to the board, “which was very time-consuming and not effective,” she said.
Now, Lykke uploads documents to the portal, and when she needs to make changes to those documents, not only can she do so easily, but board members are notified when documents are uploaded and changes are made.
Lykke adds she can update the meeting book in seconds, so each director can download single papers or all of them with the click of a button. “It’s a great way of distributing meeting materials that then sit there for reference in a ‘library,'” she says.
Perhaps most importantly, board members can now update board documents on their own, without relying on Marie to do it, as she had to do in the past. “Whilst I am the main person uploading papers, it is easy for members of my team to update board documents without the hassle of working out if the board has the latest version or not through emails,” she says.
Lykke added it was easy to set permissions for each document so the right people can access them.
— Marie Lykke
Executive Assistant for Corporate Services
Deep Yellow
Deep Yellow’s are a big part of its operation. It lists its values as:
In order to live out those values, Deep Yellow needs an engaged and effective board to oversee the process.
Deep Yellow sought two main traits from its board management solution: cost efficiency, and ease of use for members. Mission accomplished, Lykke says.
“It certainly is a more efficient process with no time wasted on multiple emails when papers are amended,” she says. “Also, anyone in my team can easily see what has been uploaded and available on the portal without the need to check email correspondence. OnBoard certainly makes my job easier and those efficiencies also flow through to the Board members with information always current and past papers available for review.”
Marie Lykke, Deep Yellow’s Executive Assistant for Corporate Services, agrees that OnBoard’s implementation and ease of use for all board members has been a net win. She said the only change they had to make to accommodate OnBoard was simply updating the process to store board materials within the portal, rather than on the company server.
“We are extremely glad we decided to go with OnBoard and would highly recommend it to any other company,” Lykke said. “Specifically it is very user-friendly, even for the not so tech-savvy person.”
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