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Old 02-16-2012, 01:39 AM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,127
Default Aura Energy (ASX:AEE) confirmed as world's 3rd largest undeveloped uranium resource

The chart below shows
the world's top 10 undeveloped uranium resources by size.

As regards the Haggan Alum Shale's mineralogy/processing: A comparable bio-leach project in Finland has produced 0.8mlbs per annum from a 17ppm U3O8 ore body that is similar to AEE's 160ppm ore body. (With the co-credits nickel, zinc and molybdenum the equivalent uranium grade is ~280ppm)

AEE's second phase bio-heap leaching has been quite successful with 90% uranium recovery, 90% zinc, 55% nickel and 45% molybdenum. The chemistry of the bio-leach process in itself is very interesting and well worth a read

AEE also have a large land position (11,00km2) in Mauritania and have published a Jorc compliant resource of 50 Mlbs of uranium at average grade of 330ppm U3O8.

Finally the recently published scoping study results are summarised below:
Haggan Project Scoping Study

Aura Energy has announced a major milestone by validating economic viability of its giant Haggan uranium deposit in central Sweden with excellent results from a scoping study. These results give the green light for Aura to move into pre-feasibility in 2012.

Aura's news is timely after several uranium announcements including China Guangdong Nuclear Power Corp declaring its offer for Kalahari Minerals and readying itself for a takeover bid for huge uranium mine owner Extract Resources. Canada?s Cameco Corp has also announced plans to double its uranium production to 40 million pounds a year by 2018 to accommodate extra demand from China and India.

Following are some key highlights from Aura's scoping study:

  • Net Present Value (NPV) - US$1,090M (pre-tax, 10% discount rate)
  • Internal Rate of Return (IRR) 47%
  • Total life of mine capital costs of US$769 million, including sustaining capital
  • Payback in approximately 4.3 years, or less than a fifth of current project life
  • Operating costs of US$36/lb uranium net of by-products
  • Initial pit shells contain >741 million tonnes of mineralisation, with much of the Project undrilled
  • Nominal 30 Mtpa operation with a 25 year initial mine life
  • Low mining costs with strip ration of 0.75:1
  • Target initial production of 6.6 Mlbs (2995t) uranium, 14.8 Mlbs nickel and 3.6 Mlbs molybdenum
  • Uses low risk bio-heap leach technology used extensively in the copper industry in Chile

Aura has the largest uranium resources of any ASX-listed uranium company, exceeding even ERA (619Mlbs) and Paladin Energy (503Mlbs); only BHP Billiton and Rio Tinto have larger uranium resources. A project of the dimensions defined in the scoping study would be in the top 10 uranium producing operations in the world, and in the lower part of the cost curve. Read more
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Old 06-06-2012, 02:22 AM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,127
Default GGG just got bigger

Highlighting the exploration upside and sheer scale of the project, the new Zone 3 resource increases the global metal inventory at the project to a 575 million pounds of uranium, 10.3 million tonnes of TREO, and 2.24 million tonnes of zinc.
The rare earth resource inventory includes 370,000 tonnes of heavy REO, and 840,000 tonnes of Y2O3.
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Old 08-22-2012, 01:41 AM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,127
Default Aura Energy (ASX: AEE) now world?s second largest undeveloped uranium resource

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.
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