https://www.miningweekly.com

Vimy raises funds for exploration and DFS

23rd October 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Uranium developer Vimy Resources has completed a A$3.9-million capital raise to fund exploration at the Alligator River project and to update a definitive feasibility study for the Mulga Rock project.

Vimy on Wednesday said that it would issue 77.87-million shares, at a price of 5c each, to institutional and sophisticated investors, under the company’s existing placement capacity.

“It’s great to see so many investors, both new and existing, who appreciate the high quality of our portfolio,” said Vimy MD and CEO Mike Young.

“The outlook for uranium continues to improve, it feels like the whole nuclear industry has made a significant turn for the better. Owing to the increased rhetoric around the climate emergency and the demonstrable failure of industrial scale renewable energy to significantly reduce greenhouse gas emissions, there is now much more dialogue around nuclear energy’s role.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.053 0.34s - 128pq - 2rq
Subscribe Now