Havilah Resources signed agreements to transfer a segment of its uranium exploration assets in South Australia to Koba Resources (ASX:KOB).

The deal confers exploration and mining rights for certain uranium deposits to Koba and monetises part of Havilah's assets.

As part of the agreement, Koba will issue 25 million ordinary shares to a Havilah subsidiary, 15 million unlisted options over Koba ordinary shares, and 10 million unlisted performance shares.

Koba will take on an expenditure commitment of $6 million over four years and have the potential to earn an 80% interest in the rights to uranium exploration within specific Havilah licences.