Australian based uranium and battery elements exploration and development company Aura Energy are to IPO their Swedish Vanadium prospect, boosted by the rise in the Vanadium price. The IPO is likely to happen in the second half of the year, and Aura have been drilling and testing at Haggen for around ten years.

Peter Reeve, Executive Chairman told London South East that the IPO would probably happen on AIM, although he isn't a great fan of the Nomad system and prefers the regulatory system used in Australia. Aura Energy hope to retain 70-75% of shares in the new company, thereby benefiting the Aura Energy share holders.

Aura also have a shallow pit uranium mine in Tiris, Mauritania, North West Africa. This may cost 45M to develop, but with production costs under $19, spot price uranium at $23 and a 10-15% recovery and better outlook for demand, Aura believe this project is viable.