Deep Yellow's (ASX:DYL) wholly-owned unit Reptile Uranium Namibia (Proprietary) executed a long-term water supply agreement with NamWater for the supply of water to the Tumas uranium project in Namibia, according to a Wednesday Australian bourse filing.

The agreement provides for water supply capacity over the life of the project, subject to certain commencement conditions and operational arrangements, supporting construction activities, commissioning, and long-term uranium production.

Reptile Uranium, as well as Deep Yellow's wholly-owned unit, Reptile Mineral Resources and Exploration (Proprietary), entered into subscription and shareholders' agreements with Oponona for Oponona to become a 5% shareholder in Reptile Uranium. This supports compliance with the local ownership requirements attached to the ML237 mining license, owned by Reptile Uranium.

Oponona's 5% share of historical and future Tumas project expenditure, including construction and development expenditure up to and including the commercial production date, shall be considered as an interest-free loan by Reptile Mineral Resources to Oponona, repayable from Oponona's future dividends, per the filing.

Its shares rose 1% in recent trading on Wednesday.