Used to dabble with AEE many moons ago and liked their projects/potential back then but deduced that management seemed a bit slow in getting things done …
That deduction may have been correct or incorrect .... but and after a long hiatus they may well be on the way …. on the watchlist again.
URANIUM OFFTAKE AGREEMENT CONCLUDED FOR TIRIS URANIUM PROJECT AGREEMENT COVERS 800,000 POUNDS U₃O₈ FIXED PRICE VOLUMES OVER 7 YEARS WITH SUBSTANTIAL ADDITIONAL OPTION VOLUMES AVERAGE PRICE OF SALES OVER US$44/LB U₃O₈ SIGNIFICANT EXPOSURE RETAINED FOR U₃O₈ PRICE UPSIDE
Nice metals addition for Aura. I think its been about a 2 year wait to get these granted from Drake Resources.
Cash Strapped is the flavour of the day for this little speccy, but they are looking at some capital funding options for their Uranium project Tiris located in Mauritania. I'm on the side and seeing how this one progresses over the next couple of months.
Its always been a struggle for these guys, but with the U price set to recover over the next couple of years … and half an ounce of luck, they might just turn the SP around.
Chart has some potential initial murmurings with a bit more Volume on a couple of wider ranging bars working off the lows …… but still a lot of work to do …. Above 0.015 cents with Volume would look a lot healthier
Aura has now released their DFS for Uranium mining in Mauritania. Next steps - finalising water reserves and then need to secure funding. Impressive AISC especially given this is Africa.
They have a Scoping Study due imminently from Sweden's Haggan project that targets a high grade zone of Vanadium within a larger tenement. The aim is to move 250Million pounds of V2O5 to Measured and Indicated.
Why would anyone put Warren Mundine on the board for an African/Euro focused uranium junior? What value does he bring?
Since Team Chessar (MD & CFO) joined AEE it seems their SP has fallen and they've raised more capital at a big discount. Very similar to what happened at Chessar when they were there. I'm guessing they are only interested in selling off the company and for that alone it makes AEE somewhat interesting.
AEE just doesn't have anything with big enough profit margins (IRRs in the 20%s) to be worthwhile in my opinion for a market cap of $120 million.
Price has been underwhelming (done nothing) since the cap raise.
I'm waiting for a break of 0.20 to get interested and if price goes back to 0.16 I'm ditching it.