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Old 08-06-2013, 04:44 AM
Sparty Sparty is offline
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Default AEE world's second largest undeveloped Uranium Resource C1 cash cost $13.60 per pound

HAGGAN - A GLOBALLY SIGNIFICANT AND STRATEGIC URANIUM DEPOSIT

REGUIBAT HAS THE POTENTIAL TO EMERGE AS AN EARLY CASHFLOW PROJECT

LOW COST PROJECTS ARE THE ONLY VIABLE OPTION FOR THE CURRENT URANIUM MARKET

Following the recent Board changes Aura Energy Ltd (ASX: AEE) has reviewed the company strategy with a key focus on improving the recognition and value of its globally significant uranium projects, and creating steps to shorten the development timeframe for these projects.

Under the direction of Managing Director Bob Beeson and his geological team, outstanding success has been achieved with the discovery of both the Haggan and Reguibat uranium projects. Today Haggan is ranked as the second largest undeveloped uranium deposit in the world.

Faced with the challenge of Haggan's lower than average grade, Aura's metallurgical consultants lead by Director Jules Perkins, previously Chairman of the Parker Cooperative Research Centre for Hydrometallurgy - has managed to successfully create a key processing breakthrough for the deposit in the form of bioleaching. The significance of this breakthrough and the fact that it potentially positions Haggan at, or close, to the bottom of the uranium cost curve, cannot be underestimated.

Haggan's C1 cash cost is estimated at *$13.50 per pound U3O8.

The Aura Board maintains that the Haggan project is an extremely robust project and largely immune to the current low uranium price. This makes the large Haggan uranium resource a unique deposit of long term strategic importance to Sweden and the European Union.

It is the intention of Aura Energy's Management and Board to work assiduously over the comingThe Strategic Review concluded that the bioleach testwork for Haggan is sufficient for the current level of study to confirm the exceptionally low Scoping Study operating cost. Bioleaching is the most efficient process for the deposit, and the leaching operating cost is the most important element of the Haggan cost structure. As such this work has provided the Aura Board with a strong degree of confidence in the overall Scoping Study C1 cash cost.

In the current uranium market the Aura Board believes the only viable strategy for the development of uranium projects is to focus on those projects with the lowest operating cost. (Haggan's C1 cash cost is estimated at *$13.50 per pound U3O8.)

The uranium sector has a range of projects which at this stage appear viable only at significantly higher uranium prices. The Scoping Study conclusions suggest that Haggan as such is unique as the combination of its large size and low operating costs, strengthening its claim for development.

Aura's key strengths:
Hagganas the second largest undeveloped uranium deposit in the world, and
Haggan low operating cost positioning Aura as potentially the world's lowest cost uranium producer.
The other key points from the strategic discussions were;
 The Board reaffirmed the significance of the Haggan Project in terms of it potentially being one of the highest margin projects in the world. The Haggan Project remains Aura?s top priority.
 An opportunity exists for Reguibat to produce early technical and development results and hence early cash flow, dependent on funding. The management team will pursue opportunities to evaluate these options.
 The Board recognises that the strong attributes of Aura, particularly Haggan, are not recognised broadly in both the equity market generally, particularly offshore, or with large corporates in the energy sector.
 Aura is developing a programme to correct the company's perceived lack of market and corporate awareness.
 The nature of the Haggan Project - large resource, flat-lying, low strip ratio, bio heap leach processing, creates options for development at a number of scales. The management team will review the project scale with an initial concept of 3-5 million tonnes per annum to assess the potential benefits of this lower capital cost approach for early development.
 Sweden is a mining friendly country which derives 50% of its electricity from nuclear power. However, Haggan's significance is not widely recognised within Sweden and this will be corrected with additional in-country work. More dedicated work in the local community will also be undertaken.
 Reguibat is flat-lying resource at surface, with the potential for beneficiation upgrading; different scale start-ups will be considered to examine early development options.
 In all projects significant exploration upside exists, providing scope for ongoing resource expansion and/or discovery success

But don't take my word read RCR's company report on AEE (.pdf)

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Old 06-06-2014, 05:10 AM
Sparty Sparty is offline
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Default Sweden: Minerals Act, Minerals Ordinance

Minerals Act, Minerals Ordinance 1 Chap. 1"Uranium and thorium minerals, as well as alum shale" are included in the list of minerals for which exploration permits and mining concessions may be granted.

To the Swedish Parliament, in March 2007, the Green and the Left Parties laid bills requiring a stop for uranium explorationand prohibition of future uranium mining.

The Standing Committee on Economic Affairs rejected the bills and declared: The Standing Committee can not find that there exists a reason to introduce a Municipality veto for all minerals inclusive uranium. The opinion of the Committee is that the legislation including the Minerals Act, the Environmental Code and the Act on Nuclear Activities is a powerful legislation which provides a guarantee for a good management. The Committee notes that at present mining of uranium is not a topical.

In March 2008 the Parliament decided according to the declaration of the Committee
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