Frydenberg’s approval, the final required, paves the way for project construction to begin.

“This approval has been more than three years in the making and has involved considerable effort on the part of all those involved,” Vimy chairman Cheryl Edwardes AM said. 

“I am grateful for their efforts and would like to thank them all.”

Mulga Rock, 240km east-northeast of Kalgoorlie, has reserves to underpin a 10-year life, but further drilling is expected to extend that life to 17 years.

Assay results from December quarter drilling are due this month.

Also due this month is the definitive feasibility study.

Mulga Rock has pre-production capital costs of nearly $US290 million, according to an earlier prefeasibility study.

Last month, the company appointed Société Générale as its advisor for project financing, with a particular focus on the uranium market contract.

Vimy had $A8.1 million cash at the end of December.

 

Shares in Vimy rose by 6.7% this morning to 24c.