Australian (ASX) Stock Market Forum

AEE - Aura Energy

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bigt said:
Appears they are applying for tennements in Sweden...interesting...there is apparently some very good ground in scandanavian countries, prospective for U.

(If I read their last ann correctly).
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I e-maile AEE, seems as if the above announcement relates to Drake who share common management. Somebody screwed up. The data in the cashflow statement does not match up with AEE so I assume it is DRK. I have heard that AEE is looking around Australia and overseas.
 
AEE quarterly IMHO indicates that there is a strong possibility that Wondinong could be economically viable. Mega is involved with AEE. She is up 10% to-day and getting near an all time high. AEE sharecapital is very swmall and is very tightly held.
 
Ann out today states that high grade U found at Wondinong and that 94 holes have grades in excess of 200ppm>One drill jole has grades of 1348ppm.Havent read the rest yet but its on Comsec
 
Well, another one out of my portfolio. Was waiting for the results to sell, now I'm out for the time being. I think this will fall some more, now that the results are formal, and not particularly great.
 
bigt said:
Well, another one out of my portfolio. Was waiting for the results to sell, now I'm out for the time being. I think this will fall some more, now that the results are formal, and not particularly great.[/QUOTE

Now that AEE has reported the scintilometer tests on its recent drill program I have done a very basic "back of envelope" assessment on this mornings report. About 2 x 3 kms of the U zone carries around half a pound of u to the ton over a width of .75 meters and this can be extracted by digging an open pit about 3-5 meters deep over this area. Extrapolating these numbers into pounds of U we get roughly 8-10 million pounds of U worth about A$50 ton or an equivalent gold grade of around 1.75 grams per tonne. In dollar terms this equates to gross revenues of around A$800 million to one billion dollars over the life of the project. To dig the stuff up all u need is simple tractors and dump trucks that u might find around any good nursery and soil supply center. So development and production costs will be very low as the U is contained in relatively very soft material (deposited on the bed of an ancient lake and river mouth). There is a secondary zone that is about the same tonnage but rough grade is about one quarter of a pound and there are a number of higher value zones that run outside the area drilled.

Another interesting little factoid is that in the first round of drilling the scintilometer readings were much lower than the final lab assays. See hole WAC27 which gave a probe reading of .8m @ 371 ppm and the lab assay at 1 meter of 528 ppm which is rougly a 50% higher reading. IMHO this stock has plenty of legs and the uninformed are selling. Mega U might just get another gift handed to them if they keep selling.
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I wouldn't say the uninformed were selling, I agree there is still great potential here, though my plan was to sell on results, and I stuck to it.


The fact that all you need are a couple of earth movers and dump trucks and you have your operation, is probably one of the reasons why mega bought in.

Still very much on the radar, though I really need to..stick..to...my...plan ;)

Lost too much recently NOT sticking to it.
 
AEE's market action yesterday is fairly typical of a fast flying u stock in a bull market. The stock has been bid up from 25 cents to 79 cents on volumes of several hundred thousand per day and it really needed to let off steam with some decent multi-million shares trade days to let the bulls take some well earned profits. The oppies have been even more tightly traded and still only managed to trade around 750,000 yesterday. IMHO this one is very tightly held and its JV with Mega Uranium is telling u that it is headed much higher. At 60 cents market cap is a paltry $15,600,000. The fact that Mega has arrived also brings a lot of foreign attention with deep pockets. Yesterday was a gift to them and a small opening to grab a few shares.

My contacts around the market place are telling me that AEE management are very savy and well connected especially to companies such as Mega U and Zinifex. Do not be surprised to see AEE expand out of WA (which currently is a small negative) into other states and overseas. Mega has a penchant for grabbing up Aussie U stocks with resources and this one is certainly heading that way.

Yesterday's announcement was a rather technical document and it analysed the gamma probes that were done on each recently drilled hole. These are NOT the final assays from the lab. AEE has already pointed out that lab assays can run up to 50% higher than gamma probes when counting width and U grade. This one should get very interesting in the coming days and weeks.
 
Found an interesting article/transcript on the Gunbarrel Basin, which AEE announced today that they will commence airborne surveys on this weekend.

http://parliament.wa.gov.au/hansard...48256ff200246c12?OpenDocument&Date=2005-04-26

(search for "gunbarrel" - its about two-thirds of the way down the page)

There's mention of Gunbarrel Basin containing "the only known commercially significant resource of scandium in the world"...

..."Scandium is one of the rarest, most expensive but most keenly sought industrial commodities in the world today."...

..."The most dramatic international effect that this major scandium supply will have is to generate the first major advancement in the aircraft manufacturing industry for more than 60 years: that being the shift from a riveted structure to a welded structure. Scandium alloys that are both weldable and strong enough for use for aerospace applications have been developed and tested by groups like the National Aeronautics and Space Administration."...

-----
Furthermore, it appears that Scandium is a by-product of mining Uranium and can be extracted from uranium mill tailings (http://en.wikipedia.org/wiki/Scandium). Too easy!

Summary:
If these guys can find Scandium as well as Uranium at their Gunbarrel Basin tenements, this would be an absolute humdinger of a project! Of course, however, we would need to see a significant shift in the WA State Government's Uranium policy for any of this to be economical. Only time will tell....

(views welcome)
 
I've mapped out Aura's latest applications in Sweden (red outline) relative to existing licenses which are all held by Continental Precious Minerals Inc (TSX:CZQ). I hope I got it right as it's a bit of a jigsaw puzzle really...

The nearby "Viken" tenement is of significant interest as CZQ have recently announced inferred resources of 76mlb U3O8, 150mlb Ni, 1.26blb V2O5, 165mlb MoO3 from 7 DD holes which cover only 5% of the total area.

http://www.cpminerals.com/pdf/2007-..._Contained_in_MMS_Viken_License_in_Sweden.pdf

I noticed the sp push above $0.50 before the company went into trading halt back on the 18th only to dive back to low 40's off the back of the announcement! :confused: Profit takers? Bad announcement?

The announcement was for "submitting" applications so I guess it is still early to make a call, but approvals for exploration permits are given on a first-come-first-served basis to applicants who have intentions to conduct appropriate exploration work...

Whether or not they are contending with other applicants is one thing, but these guys are definitely explorers, so I can only see positive things to come.

IMO, Aura is doing all the right things but I'm a little confused as to why they haven't appreciated much in value?? Does anyone have any thoughts on their latest announcement or the company in general?
 

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Might be worth putting this back on evryones radar.Last couple of announcements have been positive but previous ann relating to Swedish interests came out during recent market turbulance.Presumably this would have pushed things higher if it came out at a more positive time as they have a ready made market on their doorstep.Todays ann has had a positive effect,perhaps the grades could have been higher but the strike length is pretty impressive.Interesting to note that the decline in the price of U has seen an increase in the SP of a lot of U explorers(or perhaps they had fallen so far that this was to be expected)
 
Another positive announcement this time for its project in WA-could be why the market is unmoved and also negative sentiment towards U but IMO its only a matter of time before U plays start moving again
 
Tjis one has been much unloved for months now,lots of positive anns during market turbulance and still positive anns coming out plus seems to be interest in U stocks again,chart looks positive,any tech guys tell me if there is a bollinger squeeze happening atm.Thanks
 
How is this company going, any updates as to what you think the share price of this company can potentially be worth in a years time or more?
 
It seems that something is happening at Aura Energy. Anybody can provide some information?How are they doing in Sweden? and in Australia?
 

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