Uranium developer Deep Yellow Ltd. has signed a binding agreement to acquire a 50 per cent participating interest in the Cooper Creek joint venture from Energy Resources of Australia Ltd.
The acquisition sees Deep Yellow expand its footprint in the world-class Alligator Rivers uranium province in the Northern Territory.
Under the terms of the agreement, Deep Yellow will pay ERA AU$648,000 in cash upon completion of the deal, which is expected to wrap up within 10 business days following standard regulatory and government approvals.
The Cooper Creek JV holds two exploration licence applications (ELAs), covering a substantial 810 square kilometres in the northern section of the Alligator Rivers province.
Following the buyout, Deep Yellow joins global uranium giant Cameco Corporation, whose subsidiary Cameco Australia holds a 40 per cent managing stake, and Sutton Motors, which retains a 10 per cent interest.
The deal aligns directly with Deep Yellow’s broader growth strategy to build a dual-hub portfolio of high-tier uranium assets across Australia and Namibia.
The newly acquired ELAs adjoin Deep Yellow’s existing tenements in the Alligator Rivers province, increasing the company’s total prospective land holding in the region to 4,820 square kilometres.
The company’s nearby existing tenure already boasts the high-grade Angularli Deposit, which hosts an inferred mineral resource of 32.9 million pounds of uranium oxide at a premium grade of 1.09 per cent uranium oxide.
Deep Yellow Managing Director Greg Field said the acquisition represents a significant expansion in a highly prolific uranium province.
“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,” Field said.
He added that while the shovel-ready Tumas Project in Namibia remains the company’s primary tier-1 focus, the Cooper Creek transaction allows Deep Yellow to drive significant greenfields exploration value alongside a major partner in Cameco.
