Aura Energy (ASX:AEE) has received a second, superior offer from a global miner to help develop and fund the Häggån uranium and polymetallic project in Sweden.
Earlier in August, Aura signed an Exclusivity Agreement with an unnamed major uranium market participant after a review as to how best to develop the massive Haagen deposit.
Interestingly, the board said it would engage with the second participant in relation to the new proposal as it was consistent with the fiduciary carve-out contained in the original Exclusivity Agreement.
A new 90 day Exclusivity Agreement and due diligence period has been entered into with the un-named second party.
Haagen is an 800 million pounds uranium deposit and resource, grading 160ppm uranium. It is also the second largest undeveloped uranium resource in the world.
Last week China indicated it would resume building nuclear power plants.
It is surprising that Haagen did not receive more approaches given its size and scale. It also has an additional exploration target of 440 to 840 million pounds of uranium.
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