Vimy raises funds for exploration and DFS
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.”
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