Aura Energy has increased the uranium Resource at its Häggan Project in Sweden to a massive 800 million pounds at 160 parts per million making it the second largest undeveloped uranium resource in the world.

There is still much more exploration upside to be realized, however, with the company defining an additional exploration target of 440 millioon to 840 million pounds of uranium.

To say that Aura Energy is undervalued on a EV/Pounds of uranium would be to state the obvious. Independent resource consultants, H&S Consultants, calculated an expansion in the Resource from 630 million to 800 million pounds.

This Resource, for the first time, includes an Inferred Resource of 60 million pounds in the separate Marby permit. Aura only undertook a 13 hole resource drilling program this year but has added well over 10 million pounds of uranium to the Resource per drill hole.

The new Resource places Aura Energy’s Häggan Project just below Continental Precious Minerals’ 1,047 million pound Viken Project also in Sweden.

Importantly, Aura Energy still has the potential to almost double its Resource through additional exploration with drilling used to calculate the Resource covering only 25% of the company’s permit areas. The majority of Aura’s permits which form part of a large uranium field in central Sweden still remain untested.

Source - Proactive Investors.com

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