Paid Broker Report - 3.2p/share = $72 million AUD, page-14

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Trade138

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22/08/19

19:27

Post #: 40104799
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Originally posted by Trade138 ↑

Hi Stu - hope you’re well.

Yes - been reposting the Aura tweets on here for those that are not on the bird.

In regards to funding Tiris - I think we all have to be realistic here.

The whole U industry has had a hard time and the U price remains low. I think this would make obtaining funding hard at the moment IMO. Not impossible- but hard.

A break in U prices above $30 is where I think Aura will be looking for funding - it’s widely excepted that a break over $30 is when the U Bull kicks in.

The main issue would be raising the 20%-30% equity at the moment - at current SP levels - it would really dilutive - and honestly, I don’t think many would be very happy with it. Also - even if Aura could get the ECA portion first - it’s a bit risky until there is a clear signal that an upturn in U prices has started. Again, $30 U Spot seems to be the excepted point.

If they needed to raise $20m-$30m - think about the dilution at current levels. Horrible. So I think they will wait to secure the best deal they can. They will be criticised for funding now and diluting the hell out of is - and damned if they wait.

Next CR. Well it doesn’t take a genius to figure out Aura are running low on cash.

September Aura are due for the release of SS at Haggan. I think Peter needs to focus on building the SP up and create some value for us shareholders.

Once we get a higher SP - then funding may be looking better for them. Again the U spot will have to be taken into account.

A JV at Haggan or other way to progress the project would be ideal - and I’m expecting for something more than just the SS to be release in and around September. Say a JV partner pays for the DFS and then get a stake of the project. Just an idea.

Same with T South tenements- I think bringing someone in to JV those would be a great way to progress the project without having to constantly dilute holders.

A drill program to see what’s there and an SS for a stake in the project. Geographically they look to be in a perfect position - and the belt has already got gold being mined out of the ground further up. Again just an idea.

I think the time has come Aura to take a bigger step forward now. Peter has suggested he is going to make the projects support themselves - well this is the time.

However - I’m a realist. We need money to keep the lights on. And whether people like it or not - the market is tough. Aura have a Market Cap of $10AUD - with a fully permitted - DFS completed U project - with exceptional numbers (it’s a green light). It’s madness IMO.

I’m still very engaged with Aura. It’s not a one trick pony and the potential is great. Their Uranium project - compared to MC is utter madness.

Let’s see what September brings. T

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Also - With regard to Haggan, Peter talked about economies of scale with Matt (Crux). He said something like, if we increase the scale we can push the costs through the floor, so the size of the deposit allows us to ramp up production to a point where costs are going to be very low. We just need commitment from a battery maker to partner with us and build a VRFB plant that will take our product. It was also suggested that a number of other minerals offer excellent credits

AEE Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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