Australian Rare Earths

Australian Alternative Energy Forum


Not Really a Forum, more of my memory aid.


Comments on this forum should never be taken as investment advice.


Go Back   Alternative Energy Forums > Alternative Energy Discussion > Nuclear

Reply
 
Thread Tools Display Modes
  #1  
Old 10-30-2012, 03:49 AM
Sparty Sparty is offline
Administrator
 
Join Date: Mar 2009
Posts: 1,765
Default Aura Energy gets second suitor... Uranium coming back strongly

An interesting development for ASX: AEE the owners of the world's 3rd largest undeveloped uranium resource. Having worked out their flow sheet etc AEE needed a big brother to take them into development. Yesterday's announcement not only shows that they will have little trouble going forwards re funding but in my opinion that uranium is again becoming a sort after resource.

Significant new development in the Haggan Funding Strategy
29 October 2012

Aura has received a second, superior offer from a global miner

As announced to ASX on 14 August 2012, following completion of the first stage of its strategic review, Aura Energy (ASX:AEE) signed an Exclusivity Agreement with a major uranium market participant, in respect of a potential strategic partnership for the Haggan uranium and polymetallic project in Sweden.

Subsequently, an unsolicited proposal was received from a second potential partner ("New Proposal"), which the Board has assessed to be superior to the first proposal. The second party is also a major uranium market participant.

Consistent with the fiduciary carve-out contained in the original Exclusivity Agreement, the Board now intends to engage with the second participant in relation to the New Proposal.

A new 90 day Exclusivity Agreement has been entered into with the second party, during which the parties will attend to outstanding due diligence and negotiation of definitive documentation in relation to the New Proposal.

If agreed, under the New Proposal the Strategic Partner would make an initial cash payment to Aura on formation of the Strategic Partnership, and would provide funding for further feasibility work at Haggan, in return for equity in the project in two phases.

It should be stressed that discussions remain at any early stage and there can be no assurance that a binding agreement will be executed. Aura will provide further updates on the process in due course. In the meantime, Aura remains focused on advancing its suite of uranium assets in Sweden and Mauritania.

 

Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice.

Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT. The time now is 06:17 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.