undervalued uranium-zinc-gold-copper-bhp!, page-6

Morning RT, :)

Good to see we agree. I have in been for sometime now. See the article below on AIM's purchase of DYL's Uranium four prospecting licences in Tanzinia.

Cheers,
Brantley
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[COLOR=blue][b][u]Deep Yellow also revealed it had sold the four prospecting licences in Tanzinia it acquired in March. The AIM-listed Uranium Resources has agreed to purchase the ground for £50,000 in cash and six million shares in the company, valued at £180,000 ($575,000).[/u][/b]
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[b]Deep Yellow completes portfolio spread[/b]
Jesse Riseborough


Monday, July 18, 2005

EMERGING uranium explorer Deep Yellow has expanded its Australian uranium portfolio by picking up ground in both Western Australia and South Australia from Paladin Resources and A1 Minerals.

Deep Yellow has acquired Paladin's 90% interest in the Siccus joint venture in the Frome Basin of South Australia as well as access to Paladin's database over the Frome Basin, which it describes as highly prospective.

The company has also acquired the Ponton North uranium project in WA, covering 1150 square kilometres, from A1 Minerals. The project has previously been drilled by Uranerz and is said to be prospective for roll-front-type uranium deposits.

"These acquisitions complete a major objective of the company to establish itself as a key player in the Australian uranium sector having now extended its exploration interests beyond the Northern Territory," the company said in a market statement.

Deep Yellow has agreed to sell its 50% interest in the Mikado gold mining lease to A1 as part of the deal and will also issue 3 million shares to A1, while Paladin will receive 7.5 million Deep Yellow shares as well as 12.5 million options exercisable at 12c each by July 31 2008.

[COLOR=blue][b][u]Deep Yellow also revealed it had sold the four prospecting licences in Tanzinia it acquired in March. The AIM-listed Uranium Resources has agreed to purchase the ground for £50,000 in cash and six million shares in the company, valued at £180,000 ($575,000).[/u][/b]
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The Frome Basin, the site of the newly acquired Siccus joint venture, is 500km north of Adelaide and contains two substantial uranium deposits in Beverley (currently in production) and Honeymoon.

The company already holds the Northeast Arunta project and the advanced Napperby project in the Northern Territory, where an initial resource estimate is expected in September. Deep Yellow also recently acquired the uranium rights to 60,000sq.km of Tanami Gold tenements in the same region.

Shares in Deep Yellow were trading up 2c (16.7%) in morning trade at 14c. Deep Yellow shares have surged up the Australian Stock Exchange board in the past 6 weeks after trading at 5.4c on June 1 and hitting a high of 15c last week.