Paladin beefs up Deep Yellow interest

Uranium miner Paladin Energy Ltd has spent $11 million increasing its stake in Subiaco-based Deep Yellow Ltd through an on-market purchase.

In a notice to the market, Paladin advised that it has increased its interest from 15.30 per cent to 19.29 per cent by buying 44.7 million of shares.

Paladin said it recognizes the extensive tenement position of Deep Yellow and its strong uranium management and exploration team.

"The acquisition of the additional Deep Yellow shares is a strategic investment for Paladin."