ASX-listed Deep Yellow has extended the current 12-month option on the exclusivity agreement it has with Hylron Green Technologies, relating to the Shiyela iron-ore project, in Namibia.
Deep Yellow entered into an agreement with HyIron for the sale of shares in Shiyela Iron, which holds the Shiyela project, subject to a 12-month due diligence requirement with an option to extend to a further six months.
Hylron has advised it will exercise its final option for an additional six months, which will take the decision point to purchase out to no later than March 2023.
HyIron paid $100 000 for the 12-month exclusivity shared pro rata by Reptile Uranium Namibia and Oponona Investments, and will now pay an additional $50 000 to extend the exclusivity period for a further six months.