Aura Energy is an extremely undervalued ASX listed small cap with a vast amount of Uranium. Aura’s JORC in Sweden places in our top 5 but this substantially underplays Aura’s resource that may be around 10 times bigger… than shown in the image below. (see posts by Sparty)
And now Aura is coming up with very high grades in several of its Mauritania leases…
HIGH GRADE URANIUM RESULTS CONTINUE IN MAURITANIA
HIGHLIGHTS
Aura Energy has received further assays for its major resource drilling programme in Mauritania.
• Positive results continue to confirm the extensive nature of the calcrete uranium mineralisation within the Reguibat Project
• High grade intercepts received (drill hole locations Table 1), including:
- o 10ASACI080: 3.0m @ 2268 ppm U3O8
o 10ASACI084: 2.5m @ 1859ppm U3O8
o 10ASACC079: 10m @ 2000 ppm U3O8
o 10FEACA043: 2.5m @ 1787ppm U3O8
• Mineralisation starts at or is close to the surface
• JORC resource on track – expected in mid-2011
With a market cap of AUD$40m this makes Aura the cheapest uranium play on our ASX and possibly the world’s cheapest if we are looking at very large resource based companies…..
