Australian uranium companies announce merger plans

Australian uranium companies Deep Yellow and Vimy Resources have agreed to a merger by a Scheme of Arrangement, under which Deep Yellow will acquire 100% of Vimy’s shares. The merger will bring together the two companies’ complementary asset bases including the Mulga Rock uranium project in Western Australia and the Tumas project in Namibia. Mulga Rock (Image: Vimy)

According to the two companies, the merger will create a new global uranium player with "significant scale" and with cash resources of AUD106 million (about USD80 million). Its combined uranium resource inventory – some 389 million pounds U3O8 (14,963 tU) – will be one of the biggest in the world and will include two "advanced, world class assets in Tier-1 uranium mining jurisdictions".

Under the scheme, Deep Yellow will acquire 100% of the Vimy shares on issue, while Vimy shareholders will receive 0.294 Deep Yellow shares for every Vimy share held. Deep Yellow […]

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