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Previous years, providing the subscription rights were in the money I was eager to take up the offer but i'm in two minds currently with many now favouring the Uranium ETF's, can't say I've been that impressed with this fund's performance given the fees.
Previous Aura SPP's have excluded UK holders, if Aura's sp rises between now and the SPP opening (Monday, 8 April 2024) anyone holding on the record date (last Friday) could possibly buy in, i guess you'd have to speak to your broker as most hold through a nominee account, I previously asked my broker to cast a vote on my behalf - which they did so no reason why you can't take up your allotment. The SPP price is $0.18, I'm assuming this is AUD, so would that be a simple conversion to £0.0924 for us?
"The Company is also pleased to announce its intention to offer a Share Purchase Plan (SPP Offer) to existing eligible shareholders, being shareholders of the Company with a registered address in Australia, the United Kingdom or New Zealand recorded on the Company's share register at 5.00pm (AWST) on Friday, 15 March 2024 (Eligible Shareholders)"
They'll issue shares at whatever price they can get as they need the money to fund Cliff's $250k salary & $250k bonus. Unless it's just currently being tested - the share price on the daily chart is now back below the trendline and all the moving averages, back to 6p then? Obviously drawing lines on a chart is subjective, someone else may draw it differently.
Nearly got shaken out today and was really close to selling as couldn't stand seeing profits melt away. The raise on the ASX is supposedly priced at $0.18 AUD so that's 9.2p our money, I'd rather we didn't go as low as 9p but the Aura chart should have strong support there so if it does maybe anyone who still wants in could buy there. The positives are that the money is supposedly enough to see them through until FID, they've produced a FEED study, the latest drill results are good and there's more to come and the Uranium market seems to now be recovering from its wobble. What's other people's thoughts? Do we expect non-producing mining companies not to keep raising money?
Had a bit of confluence on my chart with the daily 100ma and previous down trend line which we touched yesterday, not good that we've now had 4 daily candles close below the 200ma, this 10p raise has really done us over and how long does $2m last? We need to see an end to these regular discounted placings or is TEK just another AIM dog that will never change.
Was feeling alright about Tek for a short while when we ran back up to 18p but as usual a discounted placing has shattered sentiment, is Cliff Gross still alive? Not seen or heard anything from him recently, although we've heard the stale sales pitch all before. Yeah, we expect the placing shares to be churned through but all the selling is currently sub 10p so does that mean if we do rise in price more dumping will start?
Mike Alkin claims the spot market is a joke, just a handful of traders buying and selling a couple of hundred thousand lbs of Uranium amongst themselves for a few dollars profit per pound and all that matters is term pricing but I guess most eyes are usually on the spot price and it drives sentiment.
Subdued response to such excellent drill results but it looks like that's where we are currently at in the Uranium cycle, a few companies have recently released good news which had little effect on the sp, Eight Capital put out a broker note on Nexgen and called it nonsensical that the market was overlooking their latest greenfield discovery. The thesis is still in play though, global Uranium demand outstrips supply and new mines need to come online. Pleased that Aura are progressing nicely and getting their ducks lined up ready for this current pullback to be over.
Not being Australian based it's new to me as well easyp, I'm guessing Aura was upgraded from the S&P/ASX SMALL ORDINARIES (XSO) to ALL ORDINARIES (XAO). According to one of AEE's holders, Aura being upgraded could mean it is now eligible to be bought by some ETFs - so you were correct in that sense but it can be a double edged sword as AEE can become more available to shorters.
Not Aura specific but there's an interview available with the CEO of District Metals who hold a similar asset to Aura's Haggan in Sweden for anyone who's interested.
https://podcasters.spotify.com/pod/show/mining-stock-daily/episodes/District-Metals-CEO-Garrett-Ainsworth-Provides-Commentary-on-Sweden-Uranium-Mining-and-Drilling-at-Tomtebo-e2gdk5u/a-ab0vmf9
Funny isn't it how there's always a big sell off just before a placing, it's almost as if people have been tipped off just like the insiders over at AVCT. But surely that wouldn't happen on a highly regulated market like Aim 🤣
While all the focus is currently on bringing Tiris online, let's not forget the scale of Haggan and the rapidly changing attitude towards Europe securing its own supply of battery metals & uranium.
https://www.mining.com/sweden-to-remove-uranium-ban/