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At 12.25p which seemed OK as long as production gets going next year and news of bigger players emerges not to mention the bit of gold and vanadium prospects.
Sorry 20%. This is not what I was expecting this morning. This is good news right? AUS Market finished almost 10% up?
Why on earth is this down 15%?
“ Offtake financing turbocharges Aura Energy as the highest leverage uranium stock to invest in”
https://stockhead.com.au/energy/offtake-financing-turbocharges-aura-energy-as-the-highest-leverage-uranium-stock-to-invest-in-on-the-asx/
$10m actually.
Good luck! I hope you'll make a lot of dosh, folks!
It's confirmed. An AUD10m agreement with Curzon.
Will the SP go up? Will it go down? Will it do a Bitcoin-style whoosh?
RNS from AUS around 10pm this evening UK time?
The first samples of uranium oxide product have been produced from ore from Aura Energy's Tiris mine in Mauritania, West Africa. The yellowcake samples were produced during test work at the Australian Nuclear Science and Technology Organisation's (ANSTO) laboratories.
Precipitation testing of Tiris UO4 (Image: Aura Energy)
The samples were produced during the test work phase of an ongoing definitive feasibility study (DFS) for the project. The UO4 produced is regarded as "saleable", with impurity levels within the acceptable levels relative to ASTM standards, Aura said. Precipitation test work will now continue, with further optimisation of the product planned in the next stage of work at ANSTO Minerals.
Yellowcake product from Tiris samples (Image: Aura Energy)
Executive Chairman Peter Reeve said the production of yellowcake was a "true milestone" towards achieving producer status.
"This yellowcake production is a key part of the Tiris DFS and will assist in marketing studies and progression of our financing discussions," he said.
The Tiris project comprises several tenements with shallow calcrete deposits on the Reguibat Craton in the north of Mauritania, close to Algeria and Mali in the Sahara desert. The DFS is for a simple "truck and shovel" mine up to 5 metres deep on the eastern deposit feeding a USD45 million plant, with production at about 400 tU per year over 15 years from 2020.
https://world-nuclear-news.org/Articles/First-yellowcake-from-Tiris-project
Last chance sub 20p today. Looking forward to the rns tomorrow!
Aussies reckon 50c or 26p on news:
Yep, not a lot of uranium companies are in this position.
A lot of uranium companies on the ASX are many many years away from production and signing offtake agreements.
In fact, many uranium companies will probably not even make it into production in this upcoming bull run.
Besides the companies with mines that are in C&M, Aura is next cab off the rank in terms of supplying uranium.
At $88M market cap, I think AEE is highly undervalued and 50c in achievable in the very near future (as a comparison, there's explorers that are nowhere near as advanced as AEE with $150M+ market caps)
https://hotcopper.com.au/threads/ann-trading-halt.6328508/page-14?get_post=true
The offtake agreement is the agreement pursuant to which the off-taker buys all or a substantial portion of the output from the facility and provides the revenue stream supporting a project financing
Aura?s (ASX:AEE) (AIM:AURA) securities on the ASX are expected to remain in the halt until the beginning of trade on Thursday October 7 or when an announcement is made.
https://stockhead.com.au/resources/aura-energy-enters-trading-halt-with-offtake-financing-news-approaching/
Recently relisted Aura Energy has entered a trading halt ahead of the finalisation of an offtake financing agreement, as it progresses flagship Tiris uranium project.
The anticipation here is killing me! I know it’s gonna be big!
I do love how the SP is increasing but HL is keeping it the same
https://stockhead.com.au/resources/aura-energy-enters-trading-halt-with-offtake-financing-news-approaching/
Recently relisted Aura Energy has entered a trading halt ahead of the finalisation of an offtake financing agreement, as it progresses flagship Tiris uranium project.
Aura’s (ASX:AEE) (AIM:AURA) securities on the ASX are expected to remain in the halt until the beginning of trade on Thursday October 7 or when an announcement is made.
The company recently relisted on the ASX and is advancing the Tiris Uranium Project in Mauritania on Africa’s Atlantic coast.
In the past few months the company has been putting in several more building blocks as it seeks to be the first new uranium project to commence construction since the uranium price started its stellar rise.
Firstly, the project was the recipient of a 10% resource upgrade in August, taking its total JORC resource to 56 million pounds at a 100-parts-per-million uranium oxide cut-off grade.
It also had a capital estimate update completed that month and subsequently updated its definitive feasibility study with 2021 figures – making its DFS one of if not the most current compared with its ASX listed uranium peers.
Work at Tiris is now advancing with stage two activities currently underway, including an opportunity review with the aim of further lowering costs, a resource conversion, and further exploration discovery and drilling with the aim of expanding the existing resources, with a vanadium by-product review also providing potential to further lower costs.
Aura is also undertaking a net-zero emissions study at Tiris and beginning a review of the steps required to initiate the project’s development.
The company was recently flagged by Stockhead as a uranium play ready to pounce when the price is right.
Aura recently stated that the improved uranium price was driving its review of Tiris, and also influenced the financing options available to the company.
Plenty of progress for Aura
On relisting late last month, Aura said it had completed its first successful drillhole during a water drilling program on Tiris.
The drillhole encountered good flows of water commencing from 35m depth, with a preliminary assessment indicating a flow rate of 17,000 litres per hour.
The testing followed up a water drilling program started by Aura at the project in 2019.
“The company is very confident in the process it has developed for identifying and targeting water bearing structures and we aim to continue testing further targets, as Aura further develops the project and advances towards near-term production,” Managing Director & CEO Peter Reeve said at the time.
Aura
Water drilling at Tiris. Pic: Supplied.
Aura is also drilling bedrock at the Nomads JV tenement within the Tasiast South gold project, also in Mauritania, where it is earning up to a 70% stake.
I will indeed be taking some profit off the table at some point but there is a long long way to go before I clear out from here with what's in store. So why not pump it!
Stop pumping, Levs! I hope people won't be stupid enough to follow you; you'll be pumping and selling at the same time, and the others ("the herd", as you refer to them) will pay through their noses to finance your P&D operation. Shameful!
If your monitoring Aura from the side-lines, do you really want to be out of this overnight? or for the rest of the week up to Thursday? The herd will arrive after the news and leg up in share price. Happy days! I envisage 20p+ Friday and on the way to 30p. This will be my second easiest bag of the year second to first bag and half I had from Aura last month. Good luck!!!
Uranium ore can be found in a few geological formations, and in a few host rocks.
The common type in Athabasca basin for instance, is often "basement hosted" - often underneath many hundreds of metres of rock and are often "unconformity" deposits - where a bit of rock is a bit different from the surroundings - often in fissures.
The type commonly found in Namibia, and some Australian deposits, and likely Tiris are usually calcrete desposits, where weathering has led to a near-surface ore presence.
Good explainer here: https://world-nuclear.org/information-library/nuclear-fuel-cycle/uranium-resources/geology-of-uranium-deposits.aspx
I'm wondering whether some uranium investors will see the opportunity here today and sell some overseas U-stocks to buy Aura. Lets see if the price ticks up after 2:30pm. I anticipate a nice surprise announcement is on the horizon. Good luck to all those who have entered Aura today with the same mindset!
https://world-nuclear-news.org/Articles/Offtake-agreement-for-Tiris-uranium
Offtake agreement for Tiris uranium
31 January 2019
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Aura Uranium has signed a binding offtake agreement with London-based Curzon Uranium Trading Limited for up to 30% of production at its Tiris uranium project. The project, in Mauritania, north-west Africa, is expected to start up next year.
https://yourir.info/resources/bfd5913688119bfe/announcements/aee.asx/6A751790/AEE_Aura_Executes_Development_MOU_for_Tiris.pdf
The World Nuclear Association has stated that China presently has 30 nuclear reactors in operation and another 24 under construction. By 2020-21 China will generate 58 GWe from nuclear power and 150 GWe by 2030. The Chinese nuclear power development program is not dependent on Chinese economic growth as the development program is a focused government commitment to meet massive base load energy demand and do so in an environmentally acceptable manner with reduction in air pollution being the number one public policy priority. This development agreement with GPEC place Aura Energy in the group of companies that can take advantage of this growth.