Deep Yellow buys 50% Cooper Creek JV stake from Energy Resources Australia

The news: Uranium miner Deep Yellow has agreed to buy a 50% interest in the Cooper Creek joint venture in the Northern Territory from Energy Resources of Australia (ERA).

The context: The Cooper Creek JV holds two exploration licence applications in the northern part of the Alligator River’s uranium province. The other JV partners are Cameco Australia, a wholly owned subsidiary of Toronto-listed Cameco Corporation, and Sutton Motors.

Deep Yellow will pay ERA $648,000 cash on completion of the acquisition.

What they said: “The acquisition of ERA’s participating interest in the Cooper Creek JV represents a strategically significant addition to Deep Yellow’s tenure in the Northern Territory,” Deep Yellow CEO Greg Field said.

“It gives our exploration team another great opportunity to apply their rigorous exploration model and deep technical expertise to discover large, high-grade uranium deposits.”