Aura Energy (ASX:AEE) is in a trading halt pending a market release on potential capital raising plans, with the halt expected to last until an announcement is made or the start of trade on 7 May 2013.
Aura holds 853 million pounds of uranium in inferred resources at its two main projects-- Haggan in Sweden and Reguibat in Mauritania.
The Haggan inferred resource stands at 803 million pounds at a U3O8 grade of 160 parts per million, and an additional exploration target of 440 to 840 million pounds U3O8 has been defined.
Aura also has a binding agreement in place with France's Areva for a future funding of the project, with Areva continuing due diligence that is likely to be completed by end of this quarter.
A scoping study completed last year had indicated that the project is economically viable even at low uranium prices. It estimated a mean NPV at US$1.85 billion using a 10% discount rate and a $65 per pound uranium price, giving an IRR of 49%.
The company's other project is the Reguibat project in Mauritania, where the current inferred resource stands at 50 million pounds U3O8. A scoping study is likely to be completed by end of this year subject to funding.
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