Proactiveinvestors United Kingdom - General Mining - Uranium & Lithium RSS feed Proactiveinvestors United Kingdom - General Mining - Uranium & Lithium feed en Sat, 20 Jan 2018 11:13:27 +0000 Genera CMS URU's influence at MRS rises with placing and board appointments Tue, 11 Apr 2017 07:51:00 +0100 Metallurgical test work underway at URU Metals’ Zebediela nickel project Wed, 05 Apr 2017 14:53:00 +0100 URU Metals buys 8.8% stake in Management Resources Solutions Wed, 01 Mar 2017 08:21:00 +0000 URU Metals raises £535,000 to explore lithium opportunities Mon, 13 Feb 2017 15:26:00 +0000 URU directors weigh in as company raises funds Mon, 09 Jan 2017 15:06:00 +0000 URU Metals bullish on nickel price Fri, 23 Dec 2016 07:33:00 +0000 URU Metals raises £640,000 to fund work at Zebediela Tue, 22 Nov 2016 07:42:00 +0000 URU Metals' chief executive appointed to board Mon, 21 Nov 2016 07:37:00 +0000 URU Metals plans new resource estimate for Zebediela nickel project Tue, 01 Nov 2016 08:17:00 +0000 Aura Energy offers short-term cash flow and long-term gold and uranium upside Mon, 24 Oct 2016 15:47:00 +0100 Aura Energy boosted by exceptional results from neighbour Thu, 22 Sep 2016 16:29:00 +0100 Aura Energy completes Australia placing, raising £600,000 Fri, 16 Sep 2016 09:52:00 +0100 Aura Energy doubles on bet it's next Berkeley Energia Mon, 12 Sep 2016 15:45:00 +0100 Aura Energy makes premium AIM debut Mon, 12 Sep 2016 09:49:00 +0100 Aura Energy Ltd poised for London listing after capital raise Aura Energy Ltd (ASX:AEE) has gained admission to the London Stock Exchange (AIM) and will be listing on AIM on Monday, 12 September 2016.

As part of the AIM listing, Aura has raised $3.94 million before expenses by the issue of shares at $0.02 each, giving it a market capitalisation of $13.1 million on admission.

The funds raised will be utilised towards completing the feasibility study at Aura’s Tiris uranium project in Mauritania and associated corporate costs.

The Tiris Uranium Project is based on a major greenfield uranium discovery in Mauritania, with 49 million pounds U3O8 (Triuranium octoxide) from 66 million tonnes at 334 ppm U3O8.

Aura also owns 100% of the Häggån uranium project in Sweden and has exploration tenements in gold, lithium and soda ash in Mauritania.

The success of the dual listing process validates the potential of Aura’s uranium assets in Mauritania and Sweden.

The demand for uranium is increasing, with China in particular aggressively building reactors and uranium markets expected to face a supply shortage by the end of the decade.

In conjunction with the AIM placement, Aura has executed subscription agreements with sophisticated Australian investors, to raise a further $820,000 at $0.02 per share.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Fri, 09 Sep 2016 04:00:00 +0100
Aura Energy Ltd takes capital raising to London Aura Energy Ltd (ASX:AEE) has been granted a trading halt by the ASX, pending details of a capital raising.

Aura is looking at an equity initiative through listing on AIM in London.

The halt will remain in place until the opening of trade on Wednesday 7th September 2016, or earlier if an announcement is made to the market.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Sun, 04 Sep 2016 22:00:00 +0100
Toro Energy Ltd valued at A$0.07 per share by broker Thu, 01 Sep 2016 00:30:00 +0100 Toro Energy Ltd upgrades Wiluna uranium project with test work Mon, 29 Aug 2016 06:00:00 +0100 Cauldron Energy Ltd succeeds in legal challenge from Forrest & Forrest Pty Ltd Cauldron Energy Ltd (ASX:CXU) has received judgment in its favour against Forrest & Forrest Pty Ltd (Forrest) in respect of the Cauldron’s application for exploration licences 08/2385, 08/2386 and 08/2387 (ELAs).
As previously announced Cauldron lodged applications for ELAs on 4 April 2012. Forrest lodged objections to the applications under the Mining Act.

Dates and timeline

On 5 January 2015 the Minister for Mines decided there were sufficient grounds to allow the applications to proceed through the determination process under the Mining Act and the Native Title Act.

On 1 April 2015, Forrest requested the applications return to the warden. The warden declined to have any further hearing of the applications and the applications have successfully passed through the Native Title process.

On 27 August 2015, Forrest made application to the Supreme Court of Western Australia for judicial review of the Minister’s decision to progress each application through the determination process under the Mining Act and the Native Title Act (Forrest Application).

The Forrest Application was heard on 19 April 2016. 

On 26 August 2016, The Honourable Justice Tottle handed down his decision dismissing the Forrest Application and making formal orders for Forrest to pay the Company’s costs.

The ELAs have been targeted by Cauldron to further consolidate the Company’s interest holdings in the Yanrey Project region.

Cauldron’s success against Forrest’s legal challenge marks a significant step towards the company being formally granted the exploration licences. 


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Mon, 29 Aug 2016 04:30:00 +0100
Adelaide Resources Ltd secures $290,000 for Eyre Peninsula drilling Adelaide Resources Ltd (ASX:ADN) is well positioned to advance its Eyre Peninsula projects following the award of two PACE discovery drilling grants of up to $290,000 by the South Australian Government.

Significantly, changes made to the PACE scheme for 2016 increases both the maximum grant value and broaden the base of claimable items to include elements such as assays.

The first grant is for up to $200,000 to test gold targets located in the vicinity of the Barns gold deposit where Adelaide recently announced a maiden resource of 107,000 ounces gold.

The co-funding grant will see drilling completed at Baggy Green, Empire, Barns West and Barns South - four prospects which returned gold intersections in drill holes completed more than ten years ago.

Targets to be tested at Baggy Green and Empire include anomalies defined by biogeochemistry and field portable x-ray fluorescence (FPXRF) soil geochemistry.

Adelaide is looking to advance its R&D program which is investigating the use of biogeochemistry and FPXRF as new exploration methods in the district.

Additionally, the company’s Thurlga JV with Investigator Resources Ltd (ASX:IVR) is exploring an Eyre Peninsula tenement for silver, gold and other minerals.

The second grant of up to $90,000 will see the JV drill six recently defined geochemical and geophysical targets.


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Tue, 16 Aug 2016 07:00:00 +0100
Aura Energy Ltd aims for London float Aura Energy Ltd (ASX:AEE) is coming to London as AIMs to fund a feasibility study for an open pit uranium mine project in Mauritania.

The project, named Tiris, is host to some 49mln pounds of uranium resources and it is estimated that a mining operation could achieve high recovery rates of around 94%.

Whilst a feasibility study has yet to be completed, it has been estimated to be a low cost operation (of about US$30 per pound) with capex costs seen at just US$45mln - a Chinese group has signed an agreement covering project and equipment financing.

If the company secures the funding it is seeking in London it AIMs to complete the feasibility study next year.

Aside from Tiris, Aura Energy also has the larger Häggån, in Sweden, where there’s an estimated 803mln pounds of uranium. Here, capital costs are much more substantial, in excess of US$500mln.

Peter Reeve, Aura Energy executive chairman, sees London’s AIM market as “an attractive marketplace” for the company given the European and African focus of the business.

Meanwhile He described it as a “transformational time” for Aura Energy as it looks to advance assets towards becoming a high-margin, profitable uranium producer in the near to medium term.

“We believe the market opportunity for the next generation of uranium production projects is evident and the long-term uranium growth fundamentals are highly positive,” Reeve said in a statement.

“There has been little new investment into the uranium sector, yet the world’s energy needs are growing exponentially and we believe the resultant supply deficit in nuclear energy is significant.”

Stockbroker WH IRELAND is acting as nominated advisor and sole broker to Aura Energy for the London IPO.


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Mon, 15 Aug 2016 23:00:00 +0100
Aura Energy aims for London float Mon, 15 Aug 2016 11:58:00 +0100 Bannerman Resources Ltd strengthens marketing and project financing capabilities Mon, 15 Aug 2016 03:20:00 +0100 Toro Energy Ltd appoints John Cahill as chairman Toro Energy Ltd (ASX:TOE) has advised that non-executive chairman, Tim Netscher, has resigned from the Toro board, effective 1 September 2016.

Netscher is leaving the Toro board due to his increased commitments to other ASX listed boards.

John Cahill will assume the role of Chairman from 1 September 2016.

Cahill has over 25 years’ experience working in senior treasury, finance, accounting and risk management positions predominantly in the energy utility sector.

Toro remains focused on bringing the wholly-owned Wiluna Uranium Project into production, Australia’s most advanced uranium development.

The project includes the Centipede and Lake Way deposits, and is a high quality, fully Government-permitted development that has the opportunity to become Western Australia’s first uranium mine.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

Wed, 10 Aug 2016 06:00:00 +0100
Peninsula Energy Ltd provides roadmap to NYSE MKT listing Wed, 10 Aug 2016 04:00:00 +0100 Peninsula Energy: Cash management important as Lance production ramps Sun, 07 Aug 2016 23:40:00 +0100 Peninsula Energy Ltd enters agreement to advance Karoo Uranium Peninsula Energy Ltd (ASX:PEN) has entered a partnership to advance its Karoo uranium projects in South Africa, (Peninsula 74% / BEE Groups 26%).

Peninsula has entered into a subscription agreement with Concentrate Capital Partners Limited (CCP), an independent investment partner to DRA Global.

Peninsula will issue 976,696 shares to CCP at an issue price of $0.80 upon receipt of invoice from DRA Projects SA (DRA), and CCP will assume full responsibility for payment to DRA for services provided under the Pre-Feasibility Study (PFS).

This agreement also contains an option for CCP to fund post-PFS activities using the same mechanism.

Post-PFS activities include the Bankable Feasibility Study, reserve drilling and other related activities.

John Simpson, managing director and CEO, commented: “The company is confident this work will provide us with clear parameters for the future development at the Karoo Projects.

"We are pleased to partner with DRA and Concentrate Capital Partners in moving the Karoo Projects toward production."

Peninsula has previously appointed DRA to complete the preliminary mining and process engineering and enhanced metallurgical test work to support the PFS at the Karoo Projects in South Africa.

The PFS follows a preliminary technical and economic assessment concluded by DRA in late 2013 and additional metallurgical test work conducted during 2014-2016.

The current metallurgical testing is primarily aimed at establishing the economic benefits of carbonate removal ahead of leaching along with confirmatory hydrometallurgical test work.

Pending the outcome of this test work phase, the PFS process design will consider the incorporation of a carbonate rejection step ahead of leaching to optimise the process flow sheet and minimise operating costs.

The PFS will also include preliminary mine design and layout (both open pit and underground), all engineering works associated with the proposed mine, plant tailings storage facility and inplant infrastructure.

Broker spotlight

- Rodman & Renshaw Research: Buy rating and A$2.25 price target.
- BMO Capital Markets: Outperform rating and A$1.00 price target.
- Dundee Capital Markets: Buy rating and A$1.80 price target.


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Thu, 04 Aug 2016 07:30:00 +0100
Peninsula Energy Ltd: Uranium production trending up Peninsula Energy Ltd (ASX:PEN) has received a Speculative Buy and $1.20 target price from Perth broker Patersons.

Peninsula last traded at $0.69. The following is an extract from the report.


Investment Highlights

Peninsula Energy (PEN) is in the process of ramping up uranium production at its Lance In-Situ Recovery (ISR) project in Wyoming.

Significantly, since commencing production, grades have continued their upward trajectory which should allow the operation to reach Stage 1 production levels during 1H/CY17.

Importantly, PEN expects to finalise funding for Stage 2 production over the next quarter, which is expected to bring costs down towards US$30/lb.

We see PEN’s key advantage over other uranium producers is that it has secured several long term uranium contracts with fixed pricing close to US$60/lb that is significantly above the current spot price (cUS$26/lb).

We see a number of short term catalysts that could positively impact the stock including a NYSE MKT listing and further developments at its Karoo project in South Africa.

We rate PEN a Speculative Buy with a price target of $1.20/sh.

Uranium Production Ramping-Up:

PEN recently provided an update on its operations which demonstrated that uranium production is moving in the right direction. Since commencing production at the end of last year, uranium grades are gradually increasing and are currently in the 35-40mg/l range. They are expected to peak at around 40-45mg/l over the next half.

This should allow Stage 1 production levels of 500-700klbpa U3O8 to be achieved.

For July, uranium production has effectively reached an annualised rate of 230,000lbpa with production continuing to ramp-up with contributions from Header Houses 3 & 4.

Significant Long Term Uranium Contracts:

In our opinion, PEN’s biggest advantage over its peers is that it has secured five long-term uranium contracts.

In total, PEN has 8.1Mlb contracted at a weighted average price of US$55/lb over the next 10 years.

This demonstrates that the PEN management team has significant relationships with the end-users.

Four of these contracts are with US utilities and one with a large European utility.

We expect PEN to continue to build these relationships with one more contract expected to be concluded over the next 2-3 months to further de-risk Stage 1 production.

Valuation $1.20/sh:

Our valuation for PEN has decreased to $1.20/sh (from $1.90/sh). The key driver has been revisions to our uranium price forecasts.

We have incorporated the US$15m convertible note and have also made some minor adjustments to the production ramp-up which has been delayed due to a significant loss of drilling days during the 2015/6 winter and delays in obtaining the initial production permits.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Wed, 03 Aug 2016 02:00:00 +0100
Peninsula Energy Ltd: Rodman & Renshaw reiterates A$2.25 price target Mon, 01 Aug 2016 23:20:00 +0100 African Energy Resources Ltd powers ahead with Sese power project in Botswana Power project developer African Energy Resources Ltd (ASX:AFR) has received a commitment from its Sese JV partner First Quantum Minerals Ltd (TSE:FM) to spend $3 million on work programs to advance the Sese integrated power project in Botswana.

The Sese project is under the management of First Quantum and funded by that company. It will invest up to $20 million in the Sese JV.

Many African nations are chronically short of reliable base-load power, particularly South African and Zambia. South Africa is thought to be seeking 2,500MW of new coal-fired base load power.

A project like Sese over the border in Botswana provides a window for AFR to supply new generation capacity from a developed project.

AFR has three power projects under development in Botswana and its partners are funding all of these, removing any capital investment burden on AFR.

AFR’s 25% interest loan is carried to commercial operation of the Sese power station.

The new funding will be used to investigate the development of a fully integrated coal mine and mine-mouth power station.

Additional large diameter drilling will be carried out to collect about 1,000 kilograms of coal for combustion testing and physical handling test work.

This will lead to the development of the fuel specification for the proposed power station, and finalization of the coal handling and processing flowsheet.

The environmental approvals are being updated to allow up to 450 megawatt of power generation and the associated coal mining and processing.

The company will also prepare the preliminary power station design and begin negotiations for power off-take agreements with interested parties.

AFR's other power projects are Mmamabula West and Mmamantswe in Botswana.

African Energy Resources had a handy $6 million cash position in April 2016.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Wed, 27 Jul 2016 03:00:00 +0100
Bannerman highlights improving sentiment in uranium market Brandon Munro, chief executive officer at Bannerman Resources (ASX:BMN), talks about improving uranium market conditions and sentiment and the progress the company is making at the Etango uranium project in Namibia.

Fri, 13 Jan 2017 15:38:00 +0000
Peninsula Energy Ltd insulated from the challenging uranium price Gus Simpson, managing director of US-focused uranium miner Peninsula Energy Ltd (ASX:PEN), brings Proactive Investors up to date on the company’s progress in the USA, where the company recently started production.
The company is still in the ramp-up period, but the important thing is it has several header houses in production at its Woming in-situ leach operation and it is making deliveries to its customers – utility companies - in the US.
“We are currently producing at around 300,000 pounds per annum,” Simpson said, adding that the company expects to ratchet this up to around half a million pounds by the end of the first quarter of 2017.
Simpson concedes that the uranium price is not as healthy as he would like, but nonetheless the company should be cash flow positive by the second quarter of next year.
Simpson observed the company is protected to some extent from the effects of the soft uranium price by long-standing contracts it has in place.
“We’ve got about 8mln pounds under contract at a good average price,” Simpson said, and assuming the company keeps a close rein on costs, it will continue to enjoy a decent margin on the uranium it sells.
Simpson thinks the uranium price will recover once Kazakh producers’ urgent need for ready cash recedes.
Meanwhile, in South Africa, the company is making progress on its Karoo uranium projects, where it has “some 57 million pounds of material”.
The company is working on the pre-feasibility study (PFS) and, all being well, this should be ready for publication in the first quarter of next year as well, so the early months of 2017 are looking action-packed for the company.
“Depending on the results of that [PFS], we’ll be looking to go on to the definitive feasibility study there, and also the reserves drilling,” Simpson revealed.
Intriguingly, Simpson said talks are at an advanced stage with a third party that is looking to come in and fund the next stage of work in return for a share of the ownership.
“While it will reduce the actual percentage of what we own in South Africa, it will advance the project significantly and, obviously, bring us greater benefit down the track,” Simpson said.

Tue, 29 Nov 2016 16:12:00 +0000
Aura Energy targeting production at Tiris before end of 2018 The executive chairman of uranium explorer Aura Energy Limited (ASX:AEE; LON:AURA), Peter Reeve, tells Proactive Investors that he hopes to start production at the firm’s Tiris uranium project in Mauritania before the end of 2018.

“You could see a positive decision to mine at the end of 2017,” Reeve says.

“It’s a very simple project, it’s a very small footprint of a project and we could be in production at the end of 2018 into 2019, so construction through that whole 2018 period.”

Reeve adds that he expects to restart the feasibility study at its Tiris uranium project in Mauritania in the “coming few months” with a view to completing the study, hopefully, by the end of 2017.

The executive chairman also says that Aura’s gold prospects in Mauritania are a perfect “bridge” for shareholders while the firm waits on the completion of the feasibility study at Tiris.

Touching on the firm’s other uranium prospect, Häggån in Sweden, Reeve feels it has the potential to “create enormous value for the company” over the next decade.

He also tells Proactive that it would make “a lot of sense” for Aura to open an office in London given the locations of their current assets.

Mon, 10 Oct 2016 09:25:00 +0100
Aura Energy Limited boss Peter Reeve pleased with “very logical” move to London market Aura Energy boss Peter Reeve is pleased with the group’s float onto London’s AIM market.
Reeve told Proactive Investors’ Stocktube said: “For a long time we’ve felt like London is a very logical market for us to be listed in.”
The Australia based, Africa and Europe focussed uranium mine development company made a premium debut in London, with the shares up some 65% above the price of Aura’s accompanying placing.
Cash raised in the funding is earmarked for the Tiris project, where a feasibility study is the important next step.

Mon, 12 Sep 2016 15:01:00 +0100
Mineralisation everywhere you kick a stone says Plateau Uranium Chairman Speaking to Proactive, Ian Stalker, chairman of Plateau Uranium (CVE: PLU) said the company has all the known uranium mineralisation in Peru, and plans to get its Macusani Plateau Uranium project into production by 2019.
The next three years, “gives us the opportunity to get this mine into production just as the deficit between supply and demand kicks in really hard,” he said.
The company aims to complete its Preliminary Feasibility Study in early 2017 before moving on to the full bankable study and the construction phase in the middle of 2018.
Plateau has a resource of 124mln pounds of uranium and will initially focus on 70mln pounds producing six million pounds per year at a cost of US$17.30, making it the fifth or sixth largest uranium production company globally.

Fri, 05 Feb 2016 15:32:00 +0000
UEX Corporation confident of uranium price uptick Roger Lemaitre, chief executive of UEX Corporation (TSE:UEX), explains how the Canada-based firm is positioning itself ahead of an expected uptick in uranium prices.

The price of uranium has been low and stagnant for years, but Lemaitre is confident that there will be a price correction.

Until then, the firm will continue to advance its projects at Shea Creek and Hidden Bay in the Athabasca Basin.

Tue, 15 Sep 2015 07:55:00 +0100
Aura Energy chairman on uranium price rise Peter Reeve, executive chairman of Aura Energy (ASX:AEE), reckons the uranium price has emerged from its downturn. Reeve talks about the margins the company makes at the current price and what separates it from its peers.

Tue, 02 Dec 2014 14:52:00 +0000
URU Metals advancing world's 12th largest undeveloped nickel deposit John Zorbas, chief executive of URU Metals (LON:URU) tells Proactive Investors it is advancing  a large scale sulphide deposit with over one billion tonnes of proven nickel resources. Current capital reserves are sufficient for the next 12 months and all the major shareholders took place in the financing of the company.

Mon, 02 Jun 2014 08:58:00 +0100
Cauldron Energy's Head of Operations, Simon Youds speaks with Proactive Investors at the Mines and Money Conference in Hong Kong about increasing the Company's resources Mon, 24 Mar 2014 23:20:00 +0000 Bannerman Resources' Managing Director, Len Jubber, tells Proactive Investors how the RCF investment will fund the Etango Pilot Plant Mon, 24 Mar 2014 23:09:00 +0000 Cauldron Energy's Head of Operations Simon Youlds' speaks with Proactive Investors by phone ASX:CXU) Head of Operations Simon Youlds' in Phone Interview with Proactive Investors ]]> Tue, 08 Oct 2013 08:03:00 +0100 URU Metals CEO is "tremendously excited" about its nickel mining prospects LON:URU), tells Proactiveinvestors that the company is dividing up the business, taking its nickel assets into a company listed in Toronto and allow URU shareholders to receive a dividend. Roger talks about the economics of the nickel project including the "extraordinarily low" exploration costs. Roger says that the excitement that surrounds the point, as he sees it, are that the figures that have been put out in the Preliminary Economic Assessment only include a portion of the total potential that will be mined.]]> Tue, 19 Jun 2012 08:49:00 +0100 Aura Energy talks about the company's five year outlook. Fri, 16 Jul 2010 09:53:00 +0100 John Young, CEO of Marencia Energy Limited, talks to Proactiveinvestors Thu, 03 Dec 2009 23:00:00 +0000 John Young, CEO of Marencia Energy Limited, talks to Proactiveinvestors Thu, 03 Dec 2009 23:00:00 +0000 Greg Hall, MD of Toro Energy, talks to Proactiveinvestors Thu, 13 Aug 2009 00:00:00 +0100 Greg Hall, MD of Toro Energy, talks to Proactiveinvestors Thu, 13 Aug 2009 00:00:00 +0100 Harry Norman speaks to Mark Reilly of Forte Energy about their uranium projects in West Africa Thu, 23 Jul 2009 00:00:00 +0100 Harry Norman speaks to Mark Reilly of Forte Energy about their uranium projects in West Africa Thu, 23 Jul 2009 00:00:00 +0100