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Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: ASX: AEE
News: Latest news
Web Site: Aura Energy
Other Articles: 17-12-200910-08-200921-04-2009

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Tuesday March 16, 11:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Aura Energy

Aura Energy

Aura Energy (ASX:AEE) is an Australian listed metal explorer with projects in Australia, Sweden and Africa. The Company has assembled a portfolio of properties on three continents, including a major presence in Sweden’s Alum Shale Province, one of the largest deposits of uranium in the world.  The Alum Shale is considered to contain Europe’s largest resources of uranium and contains exceptionally large resources of vanadium, molybdenum and nickel.

Aura has recently entered into a Heads of Agreement with Sino King Enterprise Investment Limited (“Sino King”) potentially worth A$460 million to develop the Company’s Storsjön Project in Sweden. Due diligence is currently being conducted.

In an alliance with GCM Resources Plc (LSE/AIM:GCM), Aura is exploring in West Africa. Under the alliance, Aura has been granted three exploration licences in Mauritania and applied 11 further licences.

Tuesday, April 21, 2009

Aura Energy & GCM Resources joint venture progresses West African uranium plays

Aura Energy Ltd (ASX:AEE) is pleased to announce that together with GCM Resources plc (AIM:GCM) it has approved the first half 2009 programme and budget for their successful Africa uranium exploration Alliance.

The Aura-GCM Alliance was established in April 2007 to identify high-quality uranium targets within selected regions of Africa. Aura has a generative team with extensive experience of global project identification and acquisition. GCM has the project evaluation, financing and mining skills to progress the projects generated by the Alliance.

The Alliance has had an extremely successful first two years. It has already secured:

- Three granted exploration licences in Mauritania with near-surface calcrete-hosted uranium mineralisation over extensive areas demonstrated by sampling programmes
- A further 11 licence applications in Mauritania
- Three exploration permits applications in Niger cover 1500 km2 in the uranium-bearing Tim Mersoi Basin.
- The Alliance has assessed other opportunities in four further countries

The Alliance is managed by Aura. Funds are provided jointly by GCM and Aura in cash and in kind.
Aura presents project opportunities to the Alliance. Projects accepted by the Alliance commence as GCM – Aura Joint Ventures, initially sole funded by GCM. Aura has the right to participate in any Joint Venture with a minority (30% or 10%) interest, or Aura may elect to retain a 2% Net Smelter Royalty. Any project presented but not accepted by the Alliance may be taken up by Aura.
The Alliance will continue assessing opportunities in several western African nations.

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