AEE - Aura Energy

[feeding_the_fire]

Anyone else put in for this IPO?

I see it's closed over subscribed - anyone have any thoughts on how it might perform?

Cheers!

 

[Fab]

If it has been oversubscribed it should perform well. At least at the beginning

 

[jet-r]

Its heavily oversubscribed...

hope we can see a similar performance as UTO and TOE

 

[feeding_the_fire]

Arrrgghh!!! Nothing in my trading account, and they list tomorrow. Looks like I missed out! Going about as well in IPOs as in my footy tipping!

 

[noirua]

AEE's MD, Dr Bob Beeson reports on the companies substantial increase in sandstone and calcrete uranium portfolio: http://www.brr.com.au/event/AEE/60029/12435

 

[sydneysider]

Aura Energy AEE

AEE drilling at Wondinong in WA on an old WMC U discovery. The target zone is 20 x 20 kms that contains an on surface U deposit about .5 - 1.5 meters thick. 31 holes drilled already, 45% contain more than 200 ppm (average of 31 holes is 355 ppm). SP is at 25 cents. Resume drilling next week at Wondinong on remaining 319 holes. The target tonnage is huge.

AEE have several hits already above 400-500-800 ppm and may find higher grade zones, multiple layers. Have U leases all over WA. All this is capitalized at $9 million of which $4.25 is cash. Why is it so???

 

[sydneysider]

Re: Aura Energy AEE

AEE drilling at Wondinong in WA on an old WMC U discovery. The target zone is 20 x 20 kms that contains an on surface U deposit about .5 - 1.5 meters thick. 31 holes drilled already, 45% contain more than 200 ppm (average of 31 holes is 355 ppm). SP is at 25 cents. Resume drilling next week at Wondinong on remaining 319 holes. The target tonnage is huge.

AEE have several hits already above 400-500-800 ppm and may find higher grade zones, multiple layers. Have U leases all over WA. All this is capitalized at $9 million of which $4.25 is cash. Why is it so???

Uranium drilling resumed last week. The target is very large and thin with holes testing a target horizon of 50,000,000 tonnes of calcrete like material running a meter deep and within inches to several feet from surface. Most holes will only be 5 meters deep but certain holes will probe deeper. IF this tonnage contains sufficient uranium at economic grades then AEE will run very hard.

 

[elizo]

What target price do you foresee for Aura Energy for the next 3 months?

 

[sydneysider]

What target price do you foresee for Aura Energy for the next 3 months?

AEE announced a JV on their Gunbarrel Project with Canadian based Mega Uranium. This project is in the immediate vicinity of a 50,000 t u deposit. This is major news for this minnow. They also make reference to their massive Gondining U Project where they have done about a months worth of drilling in two phases. Their comments sound very optimistic on this project. At 27 cents they are being given away. They have about 30 U projects and have about $4.5 million in cash plus about $3 million committed to the JV. Currently they are worth about $7 million. IMHO they are probably worth a triple on this or around $1.00 a share. Please do your own research and seek independent advice. I would imagine if the price stays this low Mega can buy them outright.

 

[bigt]

Are all these projects in WA? Serious opposition to mining with current premier...may be holding sp back.

 

[sydneysider]

Are all these projects in WA? Serious opposition to mining with current premier...may be holding sp back.

WA has lots of low cost calcrete U deposits and a lot of companies are drilling and defining resources. Mega Uranium took out Redport and they are now doing a JV with AEE. AEE is so cheap that at current prices they could buy it for around +$7 million and get about 30 U projects and around $5 million in cash.

 

[gresim25]

breakout of AEE.... if it closes above previous high of 30.5 than we have a lot of blue skies...


cheers

 

[sydneysider]

breakout of AEE.... if it closes above previous high of 30.5 than we have a lot of blue skies...


cheers

IMHO folks in North America saw the Mega Uranium Press Release on the JV with Aura and are backing Mega's good judgement. Based on valuations of Canadian U stocks AEE could easily reach $1.00 ($25.5 million market cap) without undue stress.

To get an idea of where this can go. Forsys (Canada) has 48mt of ore at Valencia in Namibia at a grade of 200ppm (very low grade) amongst some other assets and is valued at 60 million shares x C$4.40 = C$264,000,000. The project is very advanced. Mega has Gondining in WA which is a similar type of deal that contains about 50 million tonnes of calcrete that has low grade U distrinuted throughout and has just had 350 holes completed. Nova (NEL ) a neighbor of Aura also has an advanced type of very similar project and with 19,500,00 issued shares is at $2.50 with a valuation of $48,750,000.

 

[Sean K]

Great breakout. Should have seen that coming!

 

[sydneysider]

Great breakout. Should have seen that coming!

AEE has very professional management AND the very tight float of 25.5 m shares are very closely held. Their are an additional 17,992,000 recently issued oppies and they have gone from 11 cents to 15 cents with a seller of a few thousand at 24.5 cents. on a turnover of a few shares. Someone must be very confident here.

IMHO the JV with Mega will help send this one much, much higher just like Nova went a few months ago.

 

[ALFguy]

Kennas, did you jump on?

Chart still looks good and few sellers.

 

[greggy]

Kennas, did you jump on?

Chart still looks good and few sellers.

With the Mega Uranium JV, this stock is looking more interesting by the minute.
DYOR

 

[Sean K]

Kennas, did you jump on?

Chart still looks good and few sellers.

No, I've been losing money elsewhere unfortunately. There's just too many stocks on the ASX. Wish they'd limit it to, like, 50 or so!

Had a good start to the day.

To be honest, if had have been following this more closely I think the potential and actual breakout for this was at about $0.27ish about 4 days ago.

Harry hindsight is a wonderful thing.....

 

[dubiousinfo]

No, I've been losing money elsewhere unfortunately. There's just too many stocks on the ASX. Wish they'd limit it to, like, 50 or so! .....

No problem. Just give me a list of the companies you want to dump and I'll go talk to the ASX today.

 

[sydneysider]

With the Mega Uranium JV, this stock is looking more interesting by the minute.
DYOR

Hit 38, does not want to lie down. Volumes screaming.