The boss of Vimy Resources says uranium could be on its way back to previous highs beyond $US100 a pound amid supply concerns and the push to reduce carbon emissions, as the developer gets away an equity raising despite the heightened market volatility.

Perth-based Vimy, which own the Mulga Rock Project in Western Australia, one of the country’s largest undeveloped uranium resources, on Wednesday revealed it had raised $17 million after putting the deal on ice last Friday when Russia’s invasion of Ukraine resulted in damage to Europe’s largest nuclear power plant.