Vimy raises A$6m
PERTH (miningweekly.com) – Uranium developer Vimy Resources has raised A$6-million through a share placement to sophisticated and institutional investors to complete definitive feasibility study (DFS) work at its Mulga Rock project, in Western Australia.
The company will issue 43-million shares, priced at 14c each, to new shareholders, representing some 13.5% of the shares currently on issue.
“We’re very happy with the overwhelming response from investors who appreciate the positive outlook for uranium and its place in the world as the best source of energy,” said Vimy MD Mike Young.
“Our Mulga Rock deposit is world-class and is on target to be one of the few uranium projects on earth that will be mine-ready in 2018.”
The funds raised from the placement will be used to complete DFS work at the project, with the study scheduled for completion in the December quarter of this year.
The Mulga Rock project is currently one of four approved by the Western Australian government for development, with the state government earlier this year placing a ban on the development of any further uranium sources in the region.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation