From u308.biz A subtle, but very encouraging event happened in...

From u308.biz

A subtle, but very encouraging event happened in the uranium space this week. One that most investors missed completely. But which could signal better days coming for this long-struggling sector. That's a joint venture deal for uranium exploration. Struck by one of the world's biggest players in the industry: France's Areva. The deal comes in Australia. Where junior uranium firm Toro Energy announced earlier this week that Areva will farm into a large package of exploration lands as an investor and potential partner. Under the agreement with Toro, Areva will spend A$500,000 in order to earn a 51% interest in nearly 2,300 square kilometres of exploration ground in Australia's Northern Territory. The uranium major will then have the option to spend an additional A$1.5 million to earn a total of 80% interest in the tenements. The most notable thing about this deal is... the fact that it happened at all. Joint venture activity in the uranium space has been completely dead for years--a consequence of depressed prices slowing exploration activity across the entire sector.

JV, sounds more like takeover.