Aura Energy (ASX: AEE) has received a $700,000 tax rebate for the metallurgical research and development programme it carried out on the Häggån uranium resource in Sweden.
The company’s research revolved around the commercial extract of uranium from the low-grade mineralisation of the Scandinavian black shale deposits, which had not been carried out before.
Aura’s initial testing led it the use of heap leaching using naturally-occurring bacteria, which is in commercial use for copper and gold deposits elsewhere in the world, to extract the uranium.
This has since been confirmed with an independent Scoping Study in 2012 conducted by RMDSTEM to test the economics of a provisional mine plan and process flowsheet based on the research providing strong evidence that the Häggån Project is likely to be robustly economic and capable of supporting a very large operation.
The results of this comprehensive research program have greatly reduced the technical and economic risk attached to the project whilst revealing the exceptionally attractive opportunity open to the company and its shareholders.
Aura is now preparing to proceed with a Pre-Feasibility Study and is also examining alternative funding opportunities.
This includes a possible joint venture arrangement with a larger strategic partner. Aura is in a four-month Cooperation Agreement with the large French uranium mining company, Areva Mines SA.
Häggån has an Inferred Resource of 803 million pounds of U3O8.
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