11/05/2012 - 15:23

Aura appoints Gresham as corporate advisors

11/05/2012 - 15:23

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Aura Energy stocks have jumped on the Australian Securities Exchange, after the company announced it had appointed Gresham Advisory Partners as its corporate advisors.

Aura said in a statement to the ASX that the recent release of a scoping study for its Haggan project in Sweden had led to an increase of expressions of interest from uranium sector participants.

“In light of these developments, the company has decided it prudent to enlist the support of a leading independent corporate advisory firm to assist in the consideration of opportunities to maximise shareholder value,” Aura’s statement said.

By close of trade today, Aura stocks were up 7.7 per cent, trading at 14 cents.

Under terms of the appointment, Gresham will receive 1 million, three-year unlisted options over new shares in Aura, at a strike price of 20 cents.

Aura said its focus would remain on exploration and development at its suite of uranium assets in Sweden, Mauritania and Australia.

The company holds a total of 688 million pounds of uranium in inferred resources.

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