AEE - Aura Energy

[ectoplasm]

It seems that something is happening at Aura Energy. Anybody can provide some information?How are they doing in Sweden? and in Australia?

seasprite has just posted a breakout allert for AEE. I do not like trading low liquidity stock (as if it turns against one then it is hard to exit), but the chart below has good prospects IMO.

Anyone know anything about its business fundamentals?

Daily chart:

 

[happytown]

AEE
shares 83,232,659
options 10,550,000
total 93,782,659
sp .145
mc $13.598M (fully diluted)

cash at end of Mar qtr $2.796M
(est cash outflow Jun qtr $1.275M)
nil debt/financing

EV $10.802M


major shareholders:

UBS Nominees 9.5%
GCM Resources Plc 9.5%
board % management 4.5%
Drake Resources Ltd 4.3%

​

projects

SWEDISH PROJECTS

Storsjon Uranium-Molybdenum-Vanadium Project (Sweden, 100%, Marby and Haggen licenses)

next door to Continental Precious Metals Inc Viken Project 1.05Blbs U308 grading 0.017% (170ppm) NI 43-101 compliant inferred resource estimate (second largest published compliant U308 deposit in world after Olympic Dam) - according to AEE preso

expl target at Storjson 0.8-1.2Blbs U308 similar grade to Viken, ie 170ppm U308

initial expl target Storjson 200-400Mlbs grading approx 170ppm U308 (jorc resource estimate due end of July 2010)

2010 25 hole diamond core maiden jorc resource drilling program completed in April (covering only 5% of Storjson permit area), results incl:

45.99m @ 219ppm U308, 446ppm (0.0446%) Mo, 3,172ppm (0.3172%) V2O5, 398ppm Ni, 382ppm Zn from 188m [incl 40m @ 228ppm U308]
15.9m @ 211ppm U308, 425ppm Mo, 2,776ppm V2O5 from 156m
16.11m @ 210ppm U308, 420ppm Mo, 3,707ppm V2O5, 426ppm Ni, 518ppm Zn from 56m [incl 14.93m @ 219ppm U308]
14.98m @ 204ppm U308, 469ppm Mo, 3,069ppm V2O5, 392ppm Ni, 480ppm Zn from 101.31m [incl 14.29m @ 206ppm U308]
5.95m @ 193ppm U308, 407ppm Mo, 3,849ppm V2O5, 440ppm Ni from 57.2m
7.78m @ 191ppm U308, 404ppm Mo, 3,535ppm V2O5, 397ppm Ni, 492ppm Zn from 10.87m
62.23m @ 188ppm U308, 376ppm Mo, 2,933ppm V2O5, 341ppm Ni, 428ppm Zn from 115.1m [incl 24m @ 217ppm U308, 14m @ 193ppm U308]
84.7m @ 187ppm U308, 386ppm Mo, 3,547ppm V2O5, 389ppm Ni, 511ppm Zn from 11.3m [incl 44m @ 203ppm U308]
115.37m @ 185ppm U308, 364ppm Mo, 3,681ppm V2O5, 380ppm Ni, 422ppm Zn from 72.63m [incl 26m @ 222ppm U308, 14m @ 205ppm U308, 12m @ 205ppm U308]
51.13m @ 185ppm U308, 383ppm Mo, 3,167ppm V2O5, 361ppm Ni, 383ppm Zn from 132.87m [incl 8m @ 231ppm U308, 18m @ 203ppm U308]
19.34m @ 184ppm U308, 384ppm Mo, 3,088ppm V2O5, 376ppm Ni, 452ppm Zn from 102.76m
15.3m @ 184ppm U308, 396ppm Mo, 3,052ppm V2O5, 362ppm Ni, 499ppm Zn from 205.42m
56.66m @ 182ppm U308, 371ppm Mo, 3,620ppm V2O5, 331ppm Ni, 424ppm Zn from 124m [incl 20.7m @ 225ppm U308]
82.39m @ 181ppm U308, 358ppm Mo, 2,951ppm V2O5, 335ppm Ni, 460ppm Zn from 62.72m [incl 34m @ 225ppm U308]
100.0m @ 178ppm U308, 350ppm Mo, 2,792ppm V2O5 from 52m [incl 28m @ 217ppm U308, 8m @ 215ppm U308]
55.43m @ 176ppm U308, 383ppm Mo, 3,239ppm V2O5, 358ppm Ni, 527ppm Zn from 119.09m [incl 36m @ 193ppm U308]
43.65m @ 176ppm U308, 330ppm Mo, 2,528ppm V2O5, 314ppm Ni, 388ppm Zn from 120.5m [incl 19.5m @ 187ppm U308, 10m @ 183ppm U308]
178.0m @ 175ppm U308, 361ppm Mo, 3,374ppm V2O5, 368ppm Ni, 521ppm Zn from 18m [incl 8m @ 238ppm U308, 28m @ 212ppm U308, 24m @ 203ppm U308, 14m 193ppm U308]
49.59m @ 173ppm U308, 342ppm Mo, 2,872ppm V2O5, 336ppm Ni, 513ppm Zn from 120.5m [incl 9.5m @ 227ppm U308, 8m @ 208ppm U308]
72.37m @ 172ppm U308, 361ppm Mo, 3,282ppm V2O5, 382ppm Ni from 80.83m [incl 18m @ 214ppm U308]
191.85m @ 171ppm U308, 326ppm Mo, 2,791ppm V2O5, 335ppm Ni from 52.15m [incl 22m @ 202ppm U308]
104.4m @ 169ppm U308, 352ppm Mo, 3,111ppm V2O5 from 7.3m [incl 7m @ 202ppm U308]
9.41m @ 169ppm U308, 366ppm Mo, 3,111ppm V2O5 from 114.07m
109.0m @ 168ppm U308, 326ppm Mo, 3,216ppm V2O5 from 36m
28.41m @ 168ppm U308, 318ppm Mo, 2,227ppm V2O5, 297ppm Ni, 498ppm Zn from 142.09m [incl 7.91m @ 199ppm U308]
60.42m @ 167ppm U308, 340ppm Mo, 2,604ppm V2O5, 318ppm Ni, 433ppm Zn from 140.78m [incl 27.2m @ 218ppm U308]
27.24m @ 167ppm U308, 348ppm Mo, 3,142ppm V2O5, 338ppm Ni, 458ppm Zn from 136.46m [incl 10.75m @ 195ppm U308]
105.57m @ 160ppm U308, 319ppm Mo, 2,969ppm V2O5, 320ppm Ni, 501ppm Zn from 98.89m [incl 12m @ 212ppm U308, 12m @ 189ppm U308]
30.51m @ 158ppm U308, 336ppm Mo, 2,595ppm V2O5, 319ppm Ni, 491ppm Zn from 143.49m
86.96m @ 157ppm U308, 277ppm Mo, 2,558ppm V2O5, 317ppm Ni, 390ppm Zn from 87.74m [incl 8m @ 204ppm U308, 6m @ 203ppm U308, 4.26m @ 195ppm U308]
22.15m @ 156ppm U308, 278ppm Mo, 1,576ppm V2O5, 251ppm Ni, 357ppm Zn from 187.2m
66.34m @ 155ppm U308, 296ppm Mo, 2,085ppm V2O5, 287ppm Ni, 397ppm Zn from 124m [incl 10m @ 189ppm U308]
36.1m @ 152ppm U308, 290ppm Mo, 1,977ppm V2O5, 273ppm Ni, 524ppm Zn from 131.9m
70.35m @ 150ppm U308, 280ppm Mo, 1,987ppm V2O5, 263ppm Ni, 490ppm Zn from 121.2m [incl 10m @ 199ppm U308]
13.93m @ 150ppm U308, 285ppm Mo, 1,495ppm V2O5 from 183.1m

conventional acid leaching testwork carried out by ANSTO on samples from 1 drillhole achieved recoveries of 91-93% U308 in the Alum shale, the majority removed in less than 12 hours

bioleach testing underway with Parker Centre at CSIRO in WA, results expected H2 2010

benefits of sweden - 26.3% tax, negligible royalties, parlt recently voted to replace swedish nuclear reactors (50% nuclear)

comparable ASX-listed similarly graded (ie around 170ppm U308) jorc resource deposits incl ACB and MEY:

ACB Letlhakane Project (Africa, ACB 100%) 463Mt @ 154ppm U308 for 157.8Mlbs U308, using 100ppm U308 cut-off [143Mt @ 159ppm U308 for 50Mlbs U308 indicated; 320Mt @ 152ppm U308 for 107.6Mlbs U308 inferred] - current mc @ .30 $51.43M

MEY Marenica Project (Africa, MEY 80%) 222.6Mt @ 170ppm U308 for 85Mlbs U308, using 80ppm U308 cut-off [30.6Mt @ 175ppm U308 for 12Mlbs U308 indicated; 196Mt @ 169ppm U308 for 73Mlbs U308 inferred] - current mc @ 0.086 $45.847M

AEE Storjson Project (Sweden, AEE 100%) ?t @ 170ppm U308 for 200-400Mlbs U308 (anticipated by end of July [target overall 800-1,200Mlbs U308 @ 170ppm U308]) - current mc @ .145 $13.598M

ACB and MEY resource indicated and inferred, AEE will be inferred only

Virka Uranium Project (Sweden, 100%)

1980s (20 holes drilled by swedish geological survey) drilling results incl:

17m @ 707ppm U308 [incl 9m @ 1,087ppm U308]
1.5m @ 448ppm U308
19.5m @ 442ppm U308
9m @ 396ppm U308 [incl 3m @ 855ppm U308]
12m @ 380ppm U308 [incl 2.5m @ 1,344ppm U308]
8.5m @ 375ppm U308
5m @ 346ppm U308
4m @ 339ppm U308
24m @ 231ppm U308 [incl 3.5m @ 1,066ppm U308]
10m @ 208ppm U308

Kallsedet Uranium Project (Sweden, 100%)

drilling program in early stages of planning

 

[happytown]

cont'd/

AFRICAN PROJECTS

Reguibat Uranium Project (Mauritania, Africa, 54-100%)

6 permit areas, 3 in jv (AEE 54-56%) with GCM Resources Plc

expl target 40-60Mlbs U308 grading 300-450ppm U308

late 2009/early 2010 392 hole for 2,146m shallow aircore drilling program at GCM jv permits (Oued el Foule Est, Ain Sder, Oum Ferkik), results incl (46% of holes above 100ppm U308)

2m @ 2,444ppm U308 from surface
1m @ 2,264ppm U308 from surface
2m @ 2,049ppm U308 from surface
1m @ 1,527ppm U308 from surface
4m @ 1,435ppm U308 from surface
4m @ 1,345ppm U308 from 1m
1m @ 1,315ppm U308 from surface
2m @ 1,141ppm U308 from 1m
4m @ 1,098ppm U308 from surface
1m @ 987ppm U308 from 1m
3m @ 896ppm U308 from 1m
3m @ 864ppm U308 from surface
3m @ 820ppm U308 from 1m
5m @ 737ppm U308 from surface
1m @ 700ppm U308 from 3m
3m @ 615ppm U308 from surface
4m @ 600ppm U308 from surface
3m @ 596ppm U308 from 1m
2m @ 592ppm U308 from 1m
4m @ 570ppm U308 from surface
5m @ 567ppm U308 from 1m
3m @ 550ppm U308 from surface
2m @ 501ppm U308 from surface
3m @ 492ppm U308 from surface
3m @ 490ppm U308 from 1m
3m @ 488ppm U308 from 1m
3m @ 469ppm U308 from 1m
3m @ 467ppm U308 from surface
3m @ 456ppm U308 from surface
3m @ 443ppm U308 from 1m
6m @ 421ppm U308 from surface
3m @ 394ppm U308 from surface
3m @ 388ppm U308 from 1m
3m @ 379ppm U308 from 1m
2m @ 374ppm U308 from 1m
3m @ 368ppm U308 from surface
3m @ 363ppm U308 from surface
3m @ 358ppm U308 from 1m
1m @ 355ppm U308 from 1m
4m @ 347ppm U308 from surface
4m @ 341ppm U308 from surface
3m @ 341ppm U308 from surface
2m @ 341ppm U308 from 2m
2m @ 340ppm U308 from surface
1m @ 336ppm U308 from 2m
4m @ 330ppm U308 from surface
1m 2 322ppm U308 from surface
4m @ 321ppm U308 from surface
2m @ 321ppm U308 from 1m
1m @ 315ppm U308 from 2m
4m @ 314ppm U308 from surface
2m @ 311ppm U308 from surface
1m @ 311ppm U308 from surface
3m @ 307ppm U308 from 1m
1m @ 302ppm U308 from surface
2m @ 301ppm U308 from 1m

drilling program anticipated to commence Q3 2010 leading to jorc resource estimate early 2011

Ghazal jv Uranium Project (Mauritania, Africa, AEE up to 70%, EZE 30%)

comprising Agouyme and Bir Moghrein permits in the Reguibat Craton

Mar 2010 shallow (to 1.1m depth) trench sampling at Agouyme (over 700 x 400m area), 29 of 32 trench sites contained visible U308 mineralisation, of 34 samples 79% above 100ppm U308, av grade 550ppm U308, max grade 2,060ppm U308, trench sampling only covered small portion of radiometric anomaly at Agouyme (approx 70km NW of FTEs bir en nar U308 project - FTE recent driil results incl 3m @ 1,540ppm U308 from 43m [1m @ 2,054ppm U308], 24m @ 1,116ppm U308 from 62m [10m @ 2,545ppm U308], 7m @ 1,058ppm U308 from 79m [2m @ 2,544ppm U308], 11m @ 803ppm U308 from 89m [1m @ 3,545ppm U308], 14m @ 511ppm U308 from 42m [1m @ 3,035ppm U308], 17m @ 504ppm U308 from 104m [7m @ 1,116ppm U308])

trench sampling also undertaken at Bir Moghrein, grades up to 350ppm U308, not able to penetrate deep enough (only shalow trenching) to reach bedrock easily reached at Agouyme

drilling program to be undertaken to test extent of mineralisation at both permits H2 2010

Fai Est Uranium Project (Mauritania, Africa, 47%?)

shallow pit sampling of ferruginous gravel regions up to 60kms2 demonstrate relatively consistent grade approx 140ppm U308 - potential for large-tonnage, low-cost mining operation

Tim Mersoi Basin Uranium Project (Niger, Africa, 50%, Ebadargene 1-3)

WA PROJECTS

Wondinong Project (WA, 100%)

jorc inferred resource estimate, 22.6Mt @ 140ppm U308 for 7,000,000lbs U308, using 100ppm U308 cut-off

72 hole step out drilling program to test for extensions to known mineralised resource planned for H2 2010

Porcupine Well Uranium Project (WA, 100%)

recent 6 shallow hole auger drilling program results up to 233ppm U308 @ 1-2m depth, all hoes ended in U308 mineralisation - between TOEs Lake Way/Centipede (30kms NW) deposit 23.9Mlbs U308 @ over 500ppm U308 and Megas Lake Maitland (30kms SE) deposit 23.7Mlbs U308

50 hole aircore drilling program to depth of 20m to follow up on auger drilling undertaken during Jun qtr, awaiting assay results

Gunbarrel Uranium Project (WA, 100%)

 

[happytown]

initail jorc resource at storsjon announced

810Mt @ 162ppm U308 for 291Mlbs U308 using 100ppm U308 cutoff

7th largest U308 resource in world (based on Mlbs) current mc $11.7M

also 325ppm Mo (583Mlbs Mo), 2,616ppm V (4.693Blbs V), 318ppm Ni (570Mlbs Ni), 448ppm Zn (804Mlbs Zn)

grades are comparable to acb - 463Mt @ 154ppm U308 for 157.8Mlbs U308 (current mc $54.8M) and mey - 222.6Mt @ 170ppm U308 for 85Mlbs U308 (current mc $49.58M)

 

[happytown]

[note in above post, should read 7th largest undeveloped U308 resource in world]

aee ann'd first bio-leach results for storsjon, undertaken by wa's parker centre, at "significantly higher extraction" levels of U308, Ni, V, Zn than "with non-bioleach reference tests"

now proceeding with heap column tests to determine economic viability of bioheap leaching option, which would be significantly cheaper than conventional acid-leach option

drilling at mauritania projects (higher grade U308 than at storjson, sweden), close to fte's projects to commence next month, aiming for jorc resource early 2011

 

[happytown]

nice performance from aee over the last week or two

spp @ .15

moving to 100% of the mauritania U308 tenements (from current 50-54%), where further drilling is to commence shortly

 

[3aq1e]

this share could be a future winner. .

 

[elizo]

Why did it jump to 0.33? Anybody knows?There is nothing on the news. Is it general to uranium searching companies?

 

[happytown]

elizo

they are currently undertaking expl program in mauritannia (drilling), which is likely to produce a jorc resource of substantially higher U308 grades (albeit significantly less tonnage/lbage), in 2011 H1, than their current storjson jorc resource in sweden

broker report or two alludes to the likelihood that the greatest near-term sp mover is to come from the mauritannia results (close to FTE's expl tenements)

this could explain the recent run-up in sp (coupled with the generally improved sentiment toward U308 explorers recently)

nice 150% plus return courtesy of the marketrazone

 

[happytown]

recent fte mauritania drill results at a238 (adjoining some of aee's tenements) were not very impressive u308 grades considering their other results

awaiting aee's assay results from their current drilling program

this stock is so under the radar that not even jorn could detect it

 

[Gabby]

Is it worth staying in with this one?

 

[greggles]

Aura Energy share price sinking today after the release of its half yearly report. A $914,336 loss in the half year ending 31 December 2017 and just $616,434 cash left in the bank.

Almost certainly a capital raising on the horizon for AEE in the near future.

 

[$20shoes]

Some big volume being churned through AEE last few weeks. Could be a penny worth trading.

 

[greggles]

Some big volume being churned through AEE last few weeks. Could be a penny worth trading.

Would have been a decent punt. It just spiked 28.57% today after announcing that its 100% owned Häggån Vanadium Battery Metals Project in Sweden has an Inferred Resource of 13.1 Billion pounds of contained V2O5.

 

[$20shoes]

Still watching greggles. Biggest volume in its history but cant keep its head above 2.8c. Might see how it shapes up tomorrow.

 

[$20shoes]

Ive got itchy fingers to get on board here. Might take a punt at 2.9c if it doesnt gap up tomorrow.

 

[$20shoes]

So I didn't end up taking a position in Aura but I'm still stalking g it somewhat and have selected AEE for the Jan stock picking comp.

Technically theres not much to love,.price is range bound on low volumes.

However there's a news flow in Q1 that could result in a more positive outlook and I'm hoping some rerating might precede this.

1. Uranium is climbing out of its big bear and AEE has just been granted an exploitation licence in Mauritania to mine it's uranium holdings.

2 the DFS for this project has been slated for Feb. Apparently there's been progression on funding|offtake discussions.

3. AEE has already sunk 20mill into Swedens Haggan tenement over the years. They are now about to deliver the results of a Scoping Study focusing on exploiting Vanadium flake.

On the downside they're getting short of cash again so a CR migjt be on the cards in Q1.

Watching with interest. Hopefully it gets to pop soon.

 

[Ann]

Possible Short Term Trading Opportunity

Peter Reeve Executive Chairman/CEO has just been issued with 17,500,000. fully paid ordinary shares at no cost on 3rd January 2019. The share price on the 3/1/19 was 0.018c which gave him $315,000. worth of shares for free for doing such a good job as agreed by the shareholders on 30 November 2017. This now has AEE with 1,091,184,602Billion shares on issue. Sure, I would love to buy into this company! NOT! I feel a share Consolidation coming in the not too distant future.

But in the meantime, the PVI is going up very well which is an awesome signal to me there may well be a halfway reasonable Pump and Dump for any short term trader out there. Management have plenty of shares to sell the stock up so this is a MUST WATCH stock! Long term players better to stand back, there may be a Consolidation down the track.

 

[$20shoes]

Thanks Ann. I'm primarily using TA for my trades but have been known to stalk companies I like and wait for a Breakout opportunity to present itself for a longer term hold which I'll likely do with Aura.

Aura's really intriguing imo. I don't think its due for a P&D (although with free carry shares for the CEO, I wont discount the notion). I suspect a re-rate is on the cards.

The PVI is due to ASEAN Deep Value fund buying up the company. I think they hold 8% now. Their thing is finding deeply neglected stocks and arbitraging the market disconnect against its intrinsic value.

I agree with ASEAN on this point. AEE doesn't seem to carry any speculative value at all.

Back of the envelope: They have 17M confirmed pounds of U to dig up in Mauritania with a licence to do so. Say the Chinese were willing to buy @$45 per pound on contract and mining costs were $25 per pound, that should leave the company about half a billion in the bank over a 10 year mine life. That is, if someone were to lowball Aura on an offer at $300M for the entire tenement, AEE would be worth 30c.

But that's not even the crown jewel. They have started Vanadis Batteries in Sweden -

https://www.vanadisbm.com/

Their Scoping Study in Feb will likely present the project requirements to exploit a very small portion of their tenement (small being 430Mlbs of Vanadium). Wont be all smooth sailing in Sweden. They have to deal with Uranium as a waste product (Uranium processing is now banned) and the public opposition to this.

But that small sample of their Haggan deposit is another $600-700M project thats kicking along.

Thats basically $1.5 Billion of proven resources. Just need to dig it up now

But like all speccys damn they need some money!! Money in the bank is a big problem.

 

[Ann]

But like all speccys damn they need some money!! Money in the bank is a big problem.

Yes I bet it is, especially when they give themselves hundreds of thousand of dollars of shares for nothing. Who would want to buy in?!