Aura Energy (ASX: AEE) now world?s second largest undeveloped uranium resource
August 22nd, 2012
For quite some time now I have been banging the drum for ASX micro-cap AEE based on its EV:Resource ratio. Today?s ASX release confirms my expectations and the figure below shows why.
See earlier posts re AEE
Drilling that has been used in this resource statement covers only 25% of Aura?s permit areas at H?gg?n. The majority of Aura?s permits in the district remain untested.
Market Cap = $22m placing AEE as one of the cheapest uranium plays in the world. Adding to this is AEE?s extensive and successful mineralogy with a rapid turnaround heap leach process.