New $658m uranium major emerges as Deep Yellow ties the knot with Vimy Resources

New $658m uranium major emerges as Deep Yellow ties the knot with Vimy Resources

Deep Yellow Vimy Resources uranium merger ASX DYL VMY Knocked back in November, merged in March — advanced uranium plays Deep Yellow (ASX: DYL) and Vimy Resources (ASX: VMY) have at last found common ground in a merger of their Australian and Namibia projects in a deal that creates a $658 million operation.

Deep Yellow is to acquire 100% of Vimy under a scheme of arrangement.

Vimy shareholders will receive 0.294 Deep Yellow stock for every 1 Vimy share, with Vimy shareholders representing 47% of the new Deep Yellow.

The new entity will own two advanced projects expected to begin the development pipeline voyage later this year or in 2023.At Mulga Rock in Western Australia Vimy has completed a definitive feasibility study and the merged group will look to produce a revised DFS that increases the value of the project by undertaking additional work.The existing Deep Yellow team will lead the studies […]

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