PERTH (miningweekly.com) – Uranium junior Vimy Resources is considering a range of options to bring its Mulga Rock project, in Western Australia, into production.

The company, which launched a strategic review process in November of last year, to assess opportunities to rapidly build organisational capacity and derisk the execution of the Mulga Rock uranium project, said on Wednesday that it had engaged with several interested parties on a range of different potential value-accretive transactions and will update shareholders if a suitable transaction that reflects the growing value of its assets can be agreed.
 
There has also been significant inbound interest in Mulga Rock following achievement of the Substantial Commencement milestone in December last year.
 
Additionally, Vimy on Wednesday said that it was also considering joint venture and full or partial divestment opportunities for the Alligator River project, in the Northern Territory.

“I am pleased with the level of corporate and commercial interest being shown in Vimy and its two high-quality Australian uranium assets – the strategic value of both Mulga Rock and Alligator River cannot be underestimated in this globally volatile political environment,” MD Steven Michael said.
 
“We are methodically assessing proposals against the value and risk of progressing these projects on a 100% Vimy basis with the ultimate goal of ensuring we maximise value to our shareholders.
 
“The Mulga Rock project team remains focused on progressing the early works program onsite and commencement of a bankable feasibility study to enable project financing activities to occur later this year. Similarly, our exploration team is well advanced with planning a resource extension drilling program at Angularli in the Northern Territory during this coming field season.”

All discussions are currently incomplete, commercial in confidence and have no certainty of completion, the company added, noting that the strategic review would continue.