"In the next decade, the Swedish government plans to build another two large nuclear reactors. These would bolster its ageing six-strong fleet, which provides about one-third of Sweden's electricity and requires about 2.4M lbs of U/year. Having tweaked its 2040 energy target last year from "100% renewable" to "100% fossil-free" the government hopes to build the equivalent of 10 new reactors, including SMR's, by 2040"
Knowing that 2.4M lbs of U/year powers about one third of Sweden, we can assume that 8M lbs of U would power 100% of the country With a target of 16 reactors (assuming they require U at the same rate as their current fleet, (400,000lbs/reactor)), Sweden will need 6.4M lbs of U/year to power their targeted 2040 domestic nuclear supply (which is 80% of the 8M that would power the entire country)
Therefore Aura's historical resource estimate of 800m lbs contains enough U to power 80% of Sweden for 125 years (At 6.2M lbs/year), and enough U to power 100% of Sweden for 100 years (At 8M lbs/year).
Thus, once approved the Haggan project could power Sweden in its entirety for 100 years with a reliable, low cost, low emissions and nationally secure energy source.
AEE Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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