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‘Largest domestic uranium deal in a decade’ closes
Deep Yellow and Vimy resources have merged, creating a global uranium company by combining two advanced uranium projects.
Lauren Croft
Firm: Gilbert + Tobin (Deep Yellow Limited)
Value: $658 million
Area: M&A
Key players: G+T energy and resources partner Michael Blakiston led the matter with corporate advisory partner Sarah Turner. In addition, corporate advisory lawyers Ada Lam and Janelle Sputore advised on the merger, with advice also provided by energy and resources special counsel Jennifer Hart and lawyers Giorgia Fraser, Anneka Thomson and Shay Kiriakidis.
Deal significance: Deep Yellow is an advanced uranium exploration company in pre-development founded in 1985 with a focus on Namibia. Its Tumas Project in Namibia is currently the subject of a definitive feasibility study, which is scheduled to be completed later this year.
Vimy’s flagship project is the Mulga Rock Project, one of Australia’s largest undeveloped uranium resources, which is located 290 kilometres out of Kalgoorlie in the Great Victoria Desert of Western Australia.
The merger creates a new multi-project, global uranium company combining two advanced uranium projects with a combined 389 million pounds resource base, one of the largest in the world, differentiating itself with a geographically diversified asset base.
Commenting on the deal, Mr Blakiston said that G+T was “thrilled to have advised on this momentous transaction marking the largest domestic uranium deal in a decade and a transaction which endorses Deep Yellow’s strategy of becoming an industry consolidator”.
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
