Vimy Resources

Local business chiefs are positive about the state’s economy in the year ahead, according to the recent Business News CEO Survey.

Uranium explorer Vimy Resources has released a positive definitive feasibility study for its Mulga Rock project, located east of Kalgoorlie, but the report is based on the assumption of a near tripling in the current uranium spot price by 2021.

West Perth-based Vimy Resources has acquired a uranium project in the Northern Territory from Canadian miner Cameco for $6.5 million.

Company director and former WA attorney general Cheryl Edwardes has been appointed as the new chairperson for agribusiness CropLogic while St John of God Health Care has appointed Azure Capital managing partner Adrian Arundell to its board.

New Century Resources has raised $40 million to complete the restart of its zinc mine in Queensland, while Vimy Resources and Geopacific Resources have tapped investors for $6 million and $10 million respectively.

Few projects are more meaningful for WA’s economic direction than the Greenbushes lithium mine expansion and the new lithium refinery in Kwinana.

Poseidon Nickel has announced a $74.6 million capital raising, backed by Andrew Forrest’s Squadron Resources, days after US group Black Mountain Metals pulled out of a $66 million takeover proposal.

Uranium explorer Vimy Resources has announced a major restructuring, including the resignation of three directors, further cost-cutting and a focus on its base metals project.

West Perth-based Vimy Resources has announced commitments to raise $3.9 million through a share placement and up to $3 million through a share purchase plan to fund the development of its uranium projects in Western Australia and the Northern Territory.

Piedmont Lithium has launched a $29 million capital raising to advance its namesake project in the US, while Arafura Resources and Vimy Resources are raising funds to develop rare earth and uranium projects in Western Australia and the Northern Territory.

A strong gold price, and demand for nickel, potash and even potentially iron ore indicate good times are around the corner.

Vimy Resources has become the fourth Perth-based uranium company to undertake a major capital raising this year.

Vimy Resources has taken a step towards starting early works at Mulga Rock in a bid to achieve substantial commencement of the project before an approval expires in weeks.

Vimy Resources has knocked back a $687 million merger proposal from fellow uranium aspirant Deep Yellow, choosing instead to start a strategic review and open the bidding to other potential buyers.

Shareholders may look to seek clarity on the future of uranium hopeful Vimy Resources, with its Mulga Rock project against the clock, a strategic review underway and no permanent CEO at its helm.

Former WA attorney general Cheryl Edwardes has become the latest board member set to leave uranium aspirant Vimy Resources, announcing her resignation ahead of the company’s closed-door AGM today.

Former Vimy Resources boss Mike Young has been appointed to lead Superior Lake Resources through the ASX-listed company’s planned clean energy transition.

UPDATE: The Department of Water and Environmental Regulation has found ‘substantial commencement’ on Vimy Resources’ Mulga Rock project has occurred.

Superior Lake Resources will undergo a name change amid plans to develop a large-scale solar energy project in WA’s South West.

Vimy Resources has completed a deeply discounted capital raising to fund work on its two uranium projects, one week after a strategic review failed to unearth a new partner.

Fresh demand for uranium has renewed belief among some in the sector that the market will turn again.

Another ASX-listed uranium company is raising cash to step up its project amid revived interest in the commodity.

Possible merger partners Vimy Resources and Deep Yellow have both placed their shares in a trading halt, citing a potential control transaction.

John Borshoff’s Deep Yellow and WA uranium play Vimy Resources have agreed to terms for a proposed $658 million merger, some four months after Vimy first put Mulga Rock on the market.

Deep Yellow chief executive John Borshoff says it will be full steam ahead at the newly-merged WA business on the back of the latest spell of uranium interest.

Deep Yellow has the potential to become a multi-mine uranium producer by 2028, according to managing director and chief executive officer John Borshoff.

Uranium mined in Western Australia should be made available to fuel the green energy transition of nuclear-powered nations, Liberal Party of WA leader Libby Mettam says.