 3x RNS out including quarterly update
Appointment of David Woodall as Managing Director and Chief Executive Officer (effective 17 October 2022), contributing over 30 years of international mining experience across technical, managerial, consulting, executive and director roles.
· Acting CEO, Dr Will Goodall accepted the role of Chief Operating Officer, effective 17 October 2022.
· Resource upgrade drilling program at Tiris Uranium Project in Mauritania proceeded on schedule, with targeted completion in Q4 CY22.
· Engineering Consultants engaged for Phase 1 of Tiris Uranium Front End Engineering Design ("FEED") study and work completed by Wallbridge, Gilbert and Aztec (WGA) on leaching, ion exchange and purification plant, with final report from SENET on beneficiation circuit and infrastructure expected Q4 CY22.
· Key Management Plans for authorisation of uranium production and export for Tiris Uranium Project submitted to National Authority for Radioprotection, Safety and Nuclear Security ("ARSN") in Mauritania
· Aura Energy met with local government and community in Zouerat, Tiris Zemmour region to discuss community engagement strategies.
· Continued discussions with nuclear utilities and traders to secure additional uranium offtake contracts for the Tiris Phase 1 Fast Track Project.
· Swedish election occurred on 11 September with energy security a primary issue, and Aura acknowledging the results of the Swedish parliamentary election, congratulating the newly elected members, and committing to work positively with a future government on the development pathway for its Häggån project. |
The end of the year is fast approaching
Sweden change from 100% renewable to 100% not fossil gives a big green light to AURA |
One of only a handful of uranium projects ready to become a mine in this decade, the value will start to come here as investors start to look for undervalued uranium companies. |
A takeover is a fair concern to have as a retail shareholder.
There are lots of upsides in the next 12 months, some have the potential to be huge. |
Latest update is no update from the fir,but lots of big buys on the Australian listing including a 20m share purchase.
Lots of investors expecting the resource forecast for Tiris to be doubled, news due on this development, I recall they wrote in a previous RNS it would be announced in the 4th quarter.
I presume they will combine the resource upgrade and the mine construction news together? |
It’s happening!
hxxps://stockhead.com.au/resources/shock-and-aura-uranium-explorer-lands-top-mining-executive-to-lead-team-to-yellowcake-production/ |
Haggan plot in Sweden has even bigger potential than Tiris in Mauritania |
hxxps://stockhead.com.au/resources/aura-energy-welcomes-new-uranium-friendly-swedish-government/ |
Possibily, that and people slowly realising this is an excellent uranium play, with the uranium price creeping up and one of Australias wealthiest businessmen stakebuilding. |
Swedish election .
Have they elected someone with a titter of wit. |
I take it todays rise was due to the Swedish election news? |
Die Produktion kommt immer näher. |
Resource initial update is huge.
Today they submitted the key management plan for production & export to the Mauritanian government |
Right. Uranium price on the move. |
Resource update must be nearing completion?
Any news? |
Yes and they can't be bothered to waste their time replying to PI's. |
Indeed, new board of directors have been poor so far. |
 dan. 430. Agreed, and timing is key. Closed 10.4p in Aus this morning, currently 10.25p here. Update from Peter Reeve on Tasiast gold or from Will Goodall on EPC contract might spark brief interest but the recent financing presentation showed timescales slipping from previous ones and didn't do us any favours. It shows Tiris AISC is around three times that of our three Canadian "peers" who are ten times our size and in a much more friendly mining jurisdiction. Our resource grades are not that great either. "Four trucks and an excavator" does not come across as a serious commitment to getting things moving so I can't see any of our assets in production for at least three years. WG is a metallurgist with no CEO experience. Interim since 13th January while they appoint a proper one but still there four months on. What is this new BoD playing at? hxxps://newsnreleases.com/2022/01/13/dr-will-goodall-appointed-as-acting-ceo-of-aura-energy/
Loss of shareholder value is my main concern. On 1st April, of all days!, they confirmed authority to issue another 60m shares including 20m 'freebies' placed in escrow for various directors and consultants: hxxps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02455354-3A581698?access_token=83ff96335c2d45a094df02a206a39ff4 "Freebie" shares? Yes, imo. See 5.3 Shareholder Loans p14. Company will lend interest free money "on limited recourse terms" to directors so they can buy 20% discounted shares from escrow with "accelerated vesting" should they leave the company. Worth reading in full.
There are still ~126m options to convert taking us to 606m shares in issue. The recent placing diluted us a further 8%. We'll have gone from ~400m to 606m, >50% dilution, since 21st December AGM by the time they clear. Is that worth the funds gained? This was a poorly run company before and despite my hopes doesn't seem to be much better now. |
The share price will likely drift while the resource upgrade works take place, you will not want to be out by the autumn when they announce the additional resource and production commencement |
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