Aura Energy
Full Aura Energy profile here
Aura Energy (ASX: AEE) is a uranium explorer with advanced projects in Sweden, West Africa and Australia. The company is focusing on two main projects: the Storsjön Project located in Sweden’s Alum Shale Province, one of the largest depositories of uranium in the world; and the highly prospective Reguibat Project in Mauritania.
Aura Energy’s main projects in Sweden are based on the Alum Shales, which have been historically known as one of the largest depositories of uranium in the world. Aura Energy has exploration permits and applications in three regions in west Africa: the Reguibat Craton in Mauritania, the Mauritanide Fold belt in Mauritania, and the Tim Mersoi Basin in Niger.
Aura Energy completes acquisition of key West African uranium exploration permits
Wednesday, November 10, 2010
Aura Energy (ASX: AEE) has completed the purchase of the balance of interest in the GCM joint venture in West Africa, and now owns 100% of three key permits in northeast Mauritania where an exploration target has been established.
The acquisition establishes Aura as one of the largest landowners for uranium in Mauritania and also covers one existing permit in the centre of Mauritania and two additional recently granted permits in the north of the country.
In addition, the acquisition gives Aura three applications in the highly prospective Tim Mersoi Basin, which is one of the world’s major uranium producing areas.
In total, the deal gives Aura nine wholly owned permits in Mauritania covering 8500 square kilometres, as well as two recently acquired joint ventures with Ghazal Minerals.
Aura said it can now capture all the upside from the expected delineation of a resource in the first half of 2011 and manage the expenditure commitments to extract best value.
Aura will commence drilling this quarter on the areas which previously reported encouraging exploration results, the new targets and some of the Ghazal joint venture ground.
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