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Deep Yellow to Acquire Energy Resources of Australia's Stake in Northern Territory Joint Venture

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Deep Yellow (ASX:DYL) entered into a binding agreement with Energy Resources of Australia (ASX:ERA) to acquire its 50% participating interest in the Cooper Creek joint venture, according to a Tuesday filing with the Australian bourse.

The company will pay Energy Resources AU$648,000 cash upon completion of the transaction, expected to occur within 10 business days upon meeting standard conditions, the filing said.

The joint venture holds two exploration license applications covering 810 square kilometers in the northern part of the Alligator Rivers uranium province in the Northern Territory, per the filing.

Deep Yellow shares fell 1% in morning trade on Tuesday.

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