Today’s announcement by Aura Energy has been summarized by www.miningnews.net and I will reproduce their opening statement:
“AURA Energy is looking for a partner to develop what may emerge as one of the world’s largest and lowest cost uranium mines at its Häggån project in Sweden following a revised and independent scoping study.”
In essence AEE has one of the world’s largest uranium resources in Sweden a mining friendly, low sovereign risk country. And at the moment with a market cap of ~$22m it is a bargain. The recent sales of uranium projects, with viable resources have been around $8 – $10 per pound. AEE’s Haggan project is viable, the mineralology and processing flow sheet has been defined and consequently AEE is absurdly under-priced.