Sign up Australia
Proactive Investors - Run By Investors For Investors

Vimy Resources expects 'high-grade, small and rich deposits' at Alligator River Project

Vimy Resources Ltd (ASX:VMY) CEO and managing director Mike Young speaks to Proactive Investors about the uranium development company’s burgeoning and established Australian projects.

A final investment decision on the advanced Mulga Rock Project in Western Australia is expected in 12-18 months, pending the confirmation of off-take contracts and financing.

Meanwhile, the company is set to commence drilling at its newly-acquired Alligator River Project in Arnhem Land in the Northern Territory. Young says, “the news flows [investors] want are drill results and blue sky and upside; and that's what the Alligator River Province will give to us.”

"This is a uranium province which is one of the top three in the world... those other two geological provinces have been explored and they're currently mining. The Alligator River Province, which hosts the Ranger and Jabiluka deposits, went through a long phase of no exploration because of politics... you've got this big area of unexplored ground which is really prospective for uranium… Our plan this year for the field season is to go up and drill the Angularli Deposit and another really exciting project that we call Such Wow,” says Young.

Explaining the unique uranium commodity market, and price projections, Young comments “we’re seeing supply side discipline, and what we should see in the not-too-distant future is a reaction to that on the buy side.”

 
View full VMY profile View Profile

Vimy Resources Timeline

Newswire
September 21 2016

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use