Category: Uncategorized

It looks like AEE will again shine on the back of a largish JORC increase that will see the current JORC for their Swedish Haggan deposit markedly increase… so up from the current 291 million pounds to? is the question.

Personally I think that eventually AEE’s Haggan deposit will approach a billion pounds of uranium.

Moreover AEE are making rapid progress with their bio and acid tank leaching processes that feature a very fast throughput.

But perhaps the best thing about AEE’s deposits is that they are outside of Australia and cannot be knocked on the head by the green Senate.

“Aura Energy (ASX: AEE) has intersected more thick uranium from drilling at the Häggån Project in central Sweden, extending the area of known mineralisation into the west of its Häggån permit.

The results are expected to boost the existing JORC Resource of 291 million pounds (Mlbs) at 162 parts per million (ppm) uranium (U3O8) in the following weeks, and will also provide key inputs for mining options in the Scoping Study.

Today’s results represent another significant step in the development of the Häggån Project as a world-class uranium project. Häggån is one of the 10 largest undeveloped uranium resources in the world.

The final assays build on the previously announced results of the 11 hole drilling program undertaken earlier this year. There is up to 186 metres of mineralisation downhole and all holes in the program had mineralisation in excess of 100 metres.

Dr Bob Beeson, managing director of Aura Energy, said “every hole in the 2011 program intersected greater than 100 metres of cumulative mineralisation, emphasising the extent of this thick, flat-lying sheet. ” Read more

I note that MAK and UCL have been given their mining license for one of world’s largest phosphate deposits, the Sandpiper Phosphate project.

As a holder of MAK and UCL I’m pleased. But as a holder of EXT I wonder if it means anything that EXT hasn’t been given theirs?

I have grave fears for Australia’s on-shore uranium miners… especially the emerging ones, as I think that our brand new green senate will kick the sh*t out of any new mines…..

Today’s article in the ABNNewswire will be the first to prove or disprove my viewpoint….

Toro Energy Limited (ASX:TOE) Wiluna Uranium Project Enters Public Review Phase of Approval

Perth, July 20, 2011 (ABN Newswire) – Toro Energy Limited’s (ASX:TOE) (PINK:TOEYF) advanced Wiluna uranium project in Western Australia is to enter the public exhibition phase of government assessment from next Monday, 25 July, 2011.

It will be the first of Western Australia’s modern era uranium projects to reach this important milestone.

On Monday, Toro will release its Environmental Review and Management Programme (ERMP – elsewhere in Australia known as an Environmental Impact Statement) and associated documentation for Wiluna, including a range of environmental management strategies and detailed technical study reports.

The documentation will be on public exhibition for 14 weeks. It covers all information required for the Western Australian and Federal Governments to make their assessment of the project, as outlined in the previous government approved Environmental Scoping Document from July last year.

I used to hold TOE but got scared.

The Namibian government has confirmed that existing mining licence applications and existing exclusive prospecting licences will be unaffected by proposed changes to the Namibian Minerals Policy.

Over the last few weeks we seem to have seen a change in sentiment re the Australian Uranium Share Index as outlined in the posts below…

The picture is becoming clearer….

The image below shows the marketclub analysis of multiple uranium plays…. Note that two Australian plays have been given a bullish +90 score.

First uranium resource in Mauritania – 50 million pounds
HIGHLIGHTS
 Initial resource of 50 Mlbs of uranium at an average grade of 330ppm U3O8 compliant with the JORC code
 Reguibat project contains one of the world’s larger calcrete uranium resources – confirming emerging uranium province
 Continuous higher grade zones at or close to surface within resource areas
 Potential for substantial increase to resource
 Resource estimate independently prepared by Coffey Mining Ltd
 Aura continues to deliver on strategy and on time

Aura Energy (AEE) is a uranium explorer with advanced projects in Sweden, West Africa and Australia. The company is focusing on two main projects: the Häggån Project located in Sweden’s Alum Shale Province, one of the largest depositories of uranium in the world; and the highly prospective Reguibat Province in Mauritania.

The company aims to create shareholder value by rapidly establishing resources and then completing feasibility studies on these two projects. Aura Energy is headquartered in Melbourne, Australia and has been listed on the ASX since May 2006.

I hold AEE and as previously discussed I think it is one of the safer ASX listed uranium plays as it is free from the Australian sovereign risk issues with our new senate.

Nice to see a second week of rises in the Australian Uranium Share Index…..

Visit www.australianuranium.com.au

The image below shows the Australian Uranium Share Index updated to the 4th/July/2011. You can see the kick up over the last week.

Aura Energy Ltd has received the final assays for its major resource drilling programme in Mauritania.
• Encouraging results continue to confirm extensive nature of the calcrete uranium mineralisation within the Reguibat Project
• Excellent high grade intercepts received (drill hole locations Table 1), include:
• 10ASACI143: 4.5m @ 1076 ppm U3O8
• 10ASACW119: 6.0m @ 1356ppm U3O8
• 10ASACJ048: 3.0m @ 1303 ppm U3O8
• 10FEACA142: 4.0m @ 1409ppm U3O8
• Mineralisation starts at or close to the surface

Read previous posts re AEE on Australian-Shares.com

ASX: AEE Cheapest Uranium in the world?

The Australian share index is starting to look like it is going into free-fall. I wonder where the bottom is?
Chart updated to the 16/06/2011