Aura Energy Share Discussion Threads

[danmart2] 07/7/2020 16:41

Wasn’t able to get any at 0.35 - should have gone in at 0.36.

[danmart2] 07/7/2020 14:25

0.35 bid price seems like very good value if you can actually pick them up at that price, company certainly back on the up.

[tomboyb] 07/7/2020 12:30

0.40p on offer now -

[tomboyb] 07/7/2020 10:17

Already hold ENGI -

[intheknow69] 07/7/2020 10:13

Bank those profits into ENGI. Angus Forest ploughing £150k into this because he clearly knows what’s coming.

[tomboyb] 07/7/2020 09:49

I have a free holding here now at negligible cost after profits -

If the equity structure had been sorted this would probably be 1p+ -

[tomboyb] 07/7/2020 08:56

Aura Energy Executive Chairman Mr Peter Reeve said "Aura has maintained an exceptionally strong belief in these extremely under-explored greenstone belts given the high-quality preliminary gold and base metal exploration results achieved. This substantial funding package from a group of seasoned resource investors/developers will help reveal their true potential. With the Tasiast Gold Mine (+400,000 ozs pa) on the same belt just north of our project, the potential for multi-million-ounce discoveries is, in the eyes of our technical people, very conceivable".

"The excellent base metal indications also revealed on these properties, particularly nickel and high-grade cobalt, also highlights the broader potential of these properties on a similar basis as the Kalgoorlie region in Western Australia where significant gold and base metal discoveries have been made in similar Archean Greenstone settings.

"Aura is very pleased that Chilean Metals has recognised the attributes of this geological belt and welcomes Chilean into this project. Chilean's understanding of what it takes to enable mineral discovery and their connection to important gold investment sources will be important ingredients in this transaction. The current global economic environment is driving the gold price and provides the perfect environment for a separate vehicle to hold these strongly undervalued assets".

[the deacon] 07/7/2020 08:51

This news isn't even worth a 50% mark up on today's opening market cap.

[tomboyb] 07/7/2020 08:45

Hit my target of around 0.5p -

Sold a few and retain most -

This is excellent news and will add to the profile of the company -

A bit of tailwind as well as the management team may depart but we shall see -

[mark0419] 07/7/2020 08:41

Is this on for a record percentage gain today? Great news for holders.

[tomboyb] 07/7/2020 08:34

sure -

233% -

[iamgreat1] 07/7/2020 08:31

Profit out Thanks auraMove funds to kat now

[tomboyb] 07/7/2020 08:29

Its a good company -

One issue it has is the equity structure -

News however is excellent like its assets -

[richie32] 07/7/2020 08:23

Wow. Good work

[tomboyb] 07/7/2020 08:17

0.5p? plus -

[tomboyb] 07/7/2020 08:11

Aura Energy Limited Aura signs C$4.5m gold funding deal term sheet
07/07/2020 8:00am
UK Regulatory (RNS & others)

Aura Energy (LSE:AURA)
Intraday Stock Chart

Tuesday 7 July 2020

Click Here for more Aura Energy Charts.
TIDMAURA

RNS Number : 2333S

Aura Energy Limited

07 July 2020

7 july 2020

AURA ENERGY LIMITED

("Aura" or the "Company")

AURA SIGNS C$4.5 MILLION GOLD FUNDING DEAL TERM SHEET

WORK ON TASIAST SOUTH EXPECTED TO COMMENCE WITHIN 3 MONTHS

TO VIEW THE FULL PDF VERSION OF THIS REPORT WITH FIGURES, TABLES AND FOOTNOTES CLICK HERE:

Aura Energy Limited (AEE) is pleased to advise that it has signed a C$4.5 million (A$4.8 million) funding term sheet for the creation of a joint venture vehicle with TSX-listed Chilean Metals Inc ("Chilean Metals or Chilean") for Aura's gold, base and battery metal tenements in Mauritania. The deal is subject to due diligence and as such is non-binding.

Aura's Tasiast South tenements over 435 km(2) are in a highly prospective area lying on two lightly explored mineralised greenstone belts in Mauritania (See Fig 3). The areas lie along strike from Kinross' giant +20 Moz Tasiast Gold Mine, where Kinross has recently announced that it will expand gold production to 530,000 ounces per year.

Aura maintains that these tenements, also with strong base and battery metal results, represent some of the best under-explored greenstone belt targets in the world.

The transaction, which remains subject to due diligence, will see Aura progressively vend its Mauritanian gold and base metal licences into a joint venture vehicle (PubCo) with Chilean contributing four scheduled cash payments totalling C$4.5 million before October 2021. The third and fourth Chilean payments will be at their election.

Assuming Chilean invests C$4.5 million in cash into PubCo, Aura will own 50% of PubCo and Chilean will own 50%. Aura will also receive 1,000,000 shares in Chilean Metals as part of the transaction. Chilean may source the required funding from its own corporate sources or individual investors with the payment schedule by Chilean into the new vehicle as follows:

-- C$1.5 million - On or before 31(st) August 2020 (on execution of binding documentation)
-- C$1.0 million - 30 January 2021 (or sooner)
-- C$1.0 million - 1 June 2021 (at Chilean's election)
-- C$1.0 million - 1 October 2021 (at Chilean's election)
Given the non-binding nature of this agreement, there can be no assurance at this stage that the transaction will proceed.

Aura Energy Executive Chairman Mr Peter Reeve said "Aura has maintained an exceptionally strong belief in these extremely under-explored greenstone belts given the high-quality preliminary gold and base metal exploration results achieved. This substantial funding package from a group of seasoned resource investors/developers will help reveal their true potential. With the Tasiast Gold Mine (+400,000 ozs pa) on the same belt just north of our project, the potential for multi-million-ounce discoveries is, in the eyes of our technical people, very conceivable".

"The excellent base metal indications also revealed on these properties, particularly nickel and high-grade cobalt, also highlights the broader potential of these properties on a similar basis as the Kalgoorlie region in Western Australia where significant gold and base metal discoveries have been made in similar Archean Greenstone settings.

"Aura is very pleased that Chilean Metals has recognised the attributes of this geological belt and welcomes Chilean into this project. Chilean's understanding of what it takes to enable mineral discovery and their connection to important gold investment sources will be important ingredients in this transaction. The current global economic environment is driving the gold price and provides the perfect environment for a separate vehicle to hold these strongly undervalued assets".

The key terms of the deal are as follows:

-- Chilean invests C$4.5 million before October 2021 into PubCo
-- Aura contribute 100% of its gold and base metal tenements
-- Aura receive 1,000,000 shares in Chilean Metals
-- Aura and Chilean will eventually hold 50% each in the JV vehicle
-- Aura will hold 3 board seats in PubCo and Chilean 2 board seats
-- It is intended that PubCo will be listed on the TSX-V exchange
-- Aura will provide the management and technical team for the vehicle
-- Aura will receive a mutually agreed management fee for operating the vehicle
-- The deal remains subject to due diligence and will remain non-binding until the definitive agreement is executed.

Aura and Chilean will seek to finalise a definitive agreement for the transaction no later than 31(St) August 2020.

Schedule of TIMCO/JV Transfer and Cash Contributions

[tomboyb] 07/7/2020 08:10

Excellent news!!

[danmart2] 05/7/2020 12:10

Still no news on what the management have planned

I’m not so sure no news is good news in this instance

Most buys and sells appear to be speculative

[tomv33] 30/6/2020 09:29

Theres some real movement today

[danmart2] 14/6/2020 21:22

Back trading this week, no real movement

Interesting week ahead

[tomboyb] 21/5/2020 08:52

News out -

Looks like shareholders have stuck 2 fingers up -

[tomboyb] 18/5/2020 09:15

asx trading halt -

[tomboyb] 15/5/2020 15:13

Yes -

thanks for that -

One of the most "compelling uranium" projects is the world and the share price is sitting like a lemon -

Good point on Lind -

At some stage they will look to profit -

[gb904150] 15/5/2020 15:05

hi tomboyb.

I think the mcap is small for good reasons. Namely excessive boardroom pay, constant dilution, death spiral loan to LIND and a battle for control of the company vs ASEAN.

The hotcopper board (AEE) has loads more discussion of that than here.


This tweet sums it up quite nicely:


Add to that a staggering lack of progress on both Swedish vanadium project and Tiris Uranium over several years, including promises about Haggan being separately listed last year that never happened.

Once the pay issues get resolved (not sure how easily the board will give up their current ruse though) and the dilution stops then perhaps the shares are worthwhile.

Agree though, Tiris should be worth multiples of current mcap. But not with the current lot in charge.

Interesting that Lind are happy to pump so much money in though....how did Peter Reeve convince them? Perhaps it's other people's money and so Lind don't need to care too much? Or perhaps there is a route to riches....