Name of the Project
Häggån polymetallic project.

Location
The Häggån project is based on a substantial discovery in the Jämtland province, in central Sweden.

Project Owner/s
Aura Energy.

Project Description
Häggån has a defined a global mineral resource estimate of about two-billion tonnes at an average grade of 0.3% vanadium pentoxide containing 13.3-billion pounds vanadium pentoxide at a 0.2% vanadium pentoxide cutoff.

A scoping study has determined that the project is a significant polymetallic deposit that provides a key growth opportunity for Aura. The base case scenario proposes 3.5-million tonnes a year producing about 10 400 t/y vanadium pentoxide high-quality vanadium flake, 217 000 t/y sulphate of potash by-product for sale as fertiliser and 3 000 t/y mixed sulphide product.

The project also hosts very significant uranium mineral resources of 800-million pounds.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a projected after-tax net present value (NPV) between $380-million and $1.23-billion and an internal rate of return of 26% to 47%, with a payback of 1.5 years to 2 years. The NPV depends on the final plant configuration and forward price assumptions.

Capital Expenditure
The project has an initial capital cost of $592-million.

Planned Start/End Date
Not stated.

Latest Developments
Aura plans to undertake a prefeasibility study, including further resource and infill drilling. The company also aims to start discussions with preferred strategic partners that have financial resources to advance the project.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Aura Energy, tel +61 3 9101 8551 or email info@auraenergy.com.au