Looking at the WA based projects there are currently 3 company's permitted to mine uranium and there is a ban on any new projects . Cameco, Torro Energy and Vimy , out of the 3 Cameco's Yeelirri is the best project and one of Australia's largest undeveloped reserves with 128.1m lbs and are a proven producer. Next for me would be Torro's Wiluna with a smaller resource of 62.7m lbs with a maximum depth of 12m from the surface, on top of this there 68.3m lbs of Vanadium currently trading at $8.5 US (peaked to $35 in 2018) high demand for batteries and steel. Then Vimy's Mulga Rock project 90.1m lbs with $4 to $4.5 of base metals for every pound of U3O8 , 20m to 63m of overburden to clear before the resource.
VMY Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
