$19m market cap for a $500m NPV project. Is very cheap. AUD/USD at 60c allows Vimy to sell at $50 a pound, and maintain $500m+ NPV (Feasibility study was calculated at $60 with 70c AUD). Same same. But $50 makes Vimy even more attractive to utes. especially with attractive Australian sovereign risk. And a 15 year mine life (probably 30 if you include all 90m pounds at Mulga, as opposed c. 50m pounds measured). Secondary approvals should be complete by Q2 per recent announcement and I wouldn’t be surprised to see capex come down a $100m or so as company looks to lease and leverage cashflow rather than capex. Finally, who knows what uranium-benefiting black swan is around the corner. Iran waivers coming up in 2 weeks. Russia has shown their hand with oil fiasco so US response may delight us Ubulls. Also, Kazakhs now facing sovereign risk with oil price plummeting (produce 1.5-1.9 mbpd). Costing country big time. Not offset by favourable fx movements. Maybe incentivised to lift U price?
