Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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I'll be glad when Aura is taken over, it's obvious the market thinks Aura haven't got what it takes to bring the assets online. Heard Rick Rule commenting recently that these juniors just don't have the economies of scale and M&A's can combine assets while maintaining only one set of general administration rather than two which lowers the general administrative costs relative to assets under management or prospective cash flows.
Lovely, great, fab but this is still Africa and getting ALL the permits required to mine often "complicated"!
"Aura is delighted that His Excellency Mr. Nany Chrougha, Mauritania's Minister of Mines, is supporting His Excellency President Mohamed Ould Cheikh El Ghazouani's goal of ensuring the development of a strong resources industry in Mauritania. This goal has seen the reopening of the Mining Cadastre and the Ministry has begun accepting applications for exploration tenure, including Aura's application."
Still no news from Africa or Sweden as yet on permission to commence mining.
Sweden is a long shot while Mauretania is what I am banking on.
Nearly Christmas, an RNS confirming the above would be a very nice present Santa!
Another jump up in the Uranium spot yesterday, ASX U Co's mostly responded by going down, huh! About as annoying as LSE's new pop up videos when using mobile, we'll have to see if US U stocks respond this afternoon.
Two more RNS today, nothing much of note imo.
We need firm news from Sweden on Uranium Mining and the permits to start production in Mauretania. Neither I suspect will be easy to deliver for a number of reasons. A generation ago a mining company would simply bribe politicians into granting them the permits needed. Today businessess are legally obliged and behave in a more ethical and legal manner.
Interesting that someone appears to be promoting a pos news flow from HQ? Not yet the news I am hoping for from Sweden but it helps the sp.
Until all of the required permits are granted Tigris still iable to delay imo but nonetheless potentially a great resource. I thought the following ref Sweden was encouraging:
"Subsequent to the Reporting Period, the Swedish Government has introduced legislation to the parliament supporting the transition towards 100% fossil-free energy production by allowing the expansion of nuclear energy."
Exciting but no promises made yet...."it is uncertain whether this exploration effort will result in an estimation of a Mineral Resource." I believe it will but.......this is Africa and until the local Gov has granted the permits we do not have a mine merely a potential mine. Given the recent coups in the Sahel French eyes will be looking at what we have though.
We need some firm news from Sweden to move the sp imo. Talks are all well and good but the Swedish Parliament needs to be seen debating the issue of uranium mining before markets will take notice.
"Uranium prices have surged to their highest level in 12 years, underlining a global renaissance in nuclear power as utilities race to lock in fuel supplies.
Prices for the commodity dubbed “yellowcake” have jumped about 12 per cent to $65.50 per pound over the past month, breaching last year’s peak to reach heights not seen since 2011, according to data from UxC, a pricing data provider.
Uranium demand has been lifted by governments from Washington to Seoul and Paris seeking energy independence by extending the lifetime of the existing fleet of nuclear reactors as they contemplate building new plants after gas prices skyrocketed due to Russia’s full-scale invasion of Ukraine.
The milestone for uranium prices marks a big step towards nuclear power’s re-emergence as a critical carbon-free source of baseload power in global efforts to tackle climate change, a role that had been undermined by Japan’s Fukushima nuclear disaster in 2011."
Aura Energy Limited (ASX:AEE, AIM:AURA) ("Aura", the "Company") a company focused on the development of the 85% owned Tiris Uranium Project, Mauritania ("Tiris", or the "Project"), has received notification that Macquarie Group Limited ("MQG") now holds 81,112,983 ordinary shares, representing 13.14 per cent. of the Company's issued share capital and voting rights.
Encouraging news.....they clearly think this company is going places.
Knew this would be huge, it’s a world class project that will likely attract a major miner into a JV or will involve a direct sale.
What’s important is that vanadium and sulphate of potash are the biggest value drivers of the project NOT uranium.
There is the optionality to go ahead without extracting the uranium and hence the existing uranium ban is not a blocker any more. (While the chances of getting the uranium ban overturned are looking quite good and the government has been making the right noises it’s not totally dependent on this outcome)
Of course the project economics will be even more robust with the full suite & the byproducts
The Project's major value drivers are vanadium and the key agricultural by-product sulphate of potash (SOP), with a mixed sulphide precipitate of nickel, zinc, and molybdenum proposed to be produced. Uranium is present in the polymetallic resource, like many deposits in Sweden, and while it can add to the Project's economic value there exists at present a ban on the mining of uranium in Sweden. The Scoping Study outlines an option for a treatment and stabilisation plan that would treat the uranium into an inert safe waste product for long-term disposal or with approval from the government and community recover it in the processing circuit for sale into the domestic and or European markets.
See RNS.... scoping study very impressive imo.
Surprised the market has ignored it, perhaps they are sceptical because of the politics?
We get the go ahead from Sweden to mine uranium then this share will multi-bag from here.
If we have to rely on the African resource then progress will be slower and contain more political risk.
Finely balance at the mo but I am cautiously optimistic about Sweden.
Some good movement today, Aura should do well in the current run. Sentiment is building strongly in the uranium sector and Aura coming off lows. Upcoming Scoping study is also a catalyst here.
Https://www.thetimes.co.uk/article/sweden-to-return-to-uranium-mining-climate-minister-says-9w8mhs7rq
Time to buy more shares in AURA!
Zaks also noticed it
https://www.youtube.com/watch?v=cAbFtbHibt0
Go ahead from Sweden = share price re rating imo
Getting mining permits from any African State v long winded and frustrating.
Niger coup might help matters along in Africa.
After 3 months sitting around 10p this looks to be on the move, placing shares absorbed.
The advanced Tiris project is the focus but we’ll also see a scoping study on Haggan in Sweden in Q3, remember that’s not just a uranium project but a huge vanadium and critical metals resource.
Https://world-nuclear.org/information-library/country-profiles/countries-g-n/niger.aspx
The management I agree might be shysters who promise jam next week but the coup in Niger and instability might encourage someone to make a bid for AURA by way of insurance.
What does Rick Rule say? Something along the lines of "If you have to wait 2 years you're not early - you're wrong"
It's most likely crystal ball reading but you've got people on Twitter now talking of Uranium needing another few years before things get going, if that's the case the Aura management will soon burn through the cash reserves and fire up the confetti cannon again.
Issue shares, refill the trough, drill a few holes, rinse & repeat.
Remember when they said we would have a Tirus decision by end of 2022, now it’s the end of 2023 and talk of 2024 in todays RNS
Meanwhile more dilution, BOD get paid, no shareholder value created
$11 Million in cash!