Uranium Equities in $25m technology deal

Shares in Uranium Equities have jumped on a $25 million deal with an unidentified producer over its uranium extraction technology.

The West Perth-based Uranium Equities said the producer can acquire up to a 68 per cent interest in the PhosEnergy technology development project by spending $US17 million ($A25 million).

The money will be used to advance the technology of extracting uranium from phosphoric acid streams, which is used for the production of phosphate fertilisers.

The technology is being developed in conjunction with a "major phosphoric acid producer".

The agreement is subject to due diligence and on final agreement being reached over commercial arrangements between Uranium Equities and the phosphoric acid producer.

Shares in Uranium Equities jumped 27 per cent to a high of 9.5 cents before easing to 8 cents at 12:25 AEDT.