External broker reports(aggregated public sources), Argonaut

Argonaut

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>AEE has lifted reserves by 49% and has outlined a growth study which has shown optionality to lift production from ~1.8mlbpa to ~3.0mlbpa and ~4.0mlbpa bringing forward production under two scenarios.</li><li>Updates on contracting and funding are key near-term catalysts.</li><li>We believe the timing of Tiris development and ramp-up coincides with tightness in the uranium market, driving economic upside from our near-term bullish price outlook.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AEE has lifted reserves by 49% and has outlined a growth study which has shown optionality to lift production from ~1.8mlbpa to ~3.0mlbpa and ~4.0mlbpa bringing forward production under two scenarios.Updates on contracting and funding are key near-term catalysts.We believe the timing of Tiris development and ramp-up coincides with tightness in the uranium market, driving economic upside from our near-term bullish price outlook.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aura Energy (AEE) - Options for Growth Beyond 2.0mlbpa

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

<ul>
<li>Solactive has announced the constituent changes for the Global Uranium &amp; Nuclear Components Index. There are 8 adds and 1 delete with implementation at the close on 4 February.</li>
<li>Prior to the rebalance, <a href="https://www.smartkarma.com/entities/bhp-billiton-plc" target="_blank" data-smartkarma-citation="entities:21840:1" rel="noopener">BHP Billiton (BLT LN)</a> will be deleted at the close on 28 January following Unification with <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group (BHP AU)</a>.</li>
<li>The flows on the stocks are small, but there is a big impact on the inclusions in Australia. <a href="https://www.smartkarma.com/entities/global-x-uranium-etf" target="_blank" data-smartkarma-citation="entities:32107:1" rel="noopener">Global X Uranium ETF (URA US)</a> will buy around 5.5% of float.</li>
</ul>


Solactive has announced the constituent changes for the Global Uranium &amp; Nuclear Components Index. There are 8 adds and 1 delete with implementation at the close on 4 February.
Prior to the rebalance, BHP Billiton (BLT LN) will be deleted at the close on 28 January following Unification with BHP Group (BHP AU).
The flows on the stocks are small, but there is a big impact on the inclusions in Australia. Global X Uranium ETF (URA US) will buy around 5.5% of float.


Solactive Global Uranium & Nuclear Components Index Rebalance: Most Adds in Oz

Materials Analyst/Strategist, Janus Analysis

Gaius King

Materials Analyst/Strategist

Accelerating Tomorrow’s Independent Research

Boost Research

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<ul class="">
<li>
<a href="https://www.smartkarma.com/entities/6698" target="_blank" data-smartkarma-citation="entities:6698:1">Gold Road Resources (GOR AU)</a> Recommend BUY
</li>
<li>Gruyere JV (50/50) 91% complete, on schedule and budget</li>
<li>150koz pa Au attributable production to GOR, first bullion pour Q219</li>
<li>
Forecast EBIT $A74-84m pa, substantial cashflows starting Q419</li>
<li>
Price/EBIT ratio 8 to 9.1, A$44m cash - no debt</li>
<li>Own virtually the entire Yamarna Greenstone Belt (~ 6,500km2) </li>
<li>A$20m 2019 exploration budget - exceptional prospectivity</li>
<li>Corporate takeover target likely by <a href="https://www.smartkarma.com/entities/25109" target="_blank" data-smartkarma-citation="entities:25109:1">Gold Fields Ltd (GFI SJ)</a></li>
<li>
<a href="https://www.smartkarma.com/entities/10152" target="_blank" data-smartkarma-citation="entities:10152:1">Aura Energy Ltd (AEE AU)</a>, <a href="https://www.smartkarma.com/entities/4293" target="_blank" data-smartkarma-citation="entities:4293:1">Catalyst Metals (CYL AU)</a>, <a href="https://www.smartkarma.com/entities/20488" target="_blank" data-smartkarma-citation="entities:20488:1">Liontown Resources (LTR AU)</a>, <a href="https://www.smartkarma.com/entities/11276" target="_blank" data-smartkarma-citation="entities:11276:1">Millennium Minerals (MOY AU)</a>, <a href="https://www.smartkarma.com/entities/12743" target="_blank" data-smartkarma-citation="entities:12743:1">Southern Gold (SAU AU)</a>, <a href="https://www.smartkarma.com/entities/5124" target="_blank" data-smartkarma-citation="entities:5124:1">Azumah Resources (AZM AU)</a>, <a href="https://www.smartkarma.com/entities/10577" target="_blank" data-smartkarma-citation="entities:10577:1">Focus Minerals (FML AU)</a>, <a href="https://www.smartkarma.com/entities/14492" target="_blank" data-smartkarma-citation="entities:14492:1">Oklo Resources (OKU AU)</a>, <a href="https://www.smartkarma.com/entities/7940" target="_blank" data-smartkarma-citation="entities:7940:1">Red 5 Ltd (RED AU)</a>, <a href="https://www.smartkarma.com/entities/14062" target="_blank" data-smartkarma-citation="entities:14062:1">Troy Resources (TRY AU)</a>
</li>
</ul>



Gold Road Resources (GOR AU) Recommend BUY

Gruyere JV (50/50) 91% complete, on schedule and budget
150koz pa Au attributable production to GOR, first bullion pour Q219

Forecast EBIT $A74-84m pa, substantial cashflows starting Q419

Price/EBIT ratio 8 to 9.1, A$44m cash - no debt
Own virtually the entire Yamarna Greenstone Belt (~ 6,500km2) 
A$20m 2019 exploration budget - exceptional prospectivity
Corporate takeover target likely by Gold Fields Ltd (GFI SJ)

Aura Energy Ltd (AEE AU), Catalyst Metals (CYL AU), Liontown Resources (LTR AU), Millennium Minerals (MOY AU), Southern Gold (SAU AU), Azumah Resources (AZM AU), Focus Minerals (FML AU), Oklo Resources (OKU AU), Red 5 Ltd (RED AU), Troy Resources (TRY AU)



New J. Hutton Exploration Report (Week Ending 01/02/19)

Australia

Aura Energy Ltd. explores for uranium in Australia.

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Aura Energy Ltd (AEE AU)

Aura Energy (AEE) - Options for Growth Beyond 2.0mlbpa

AEE has lifted reserves by 49% and has outlined a growth study which has shown optionality to lift production from ~1.8mlbpa to ~3.0mlbpa and...

Argonaut

Solactive Global Uranium & Nuclear Components Index Rebalance: Most Adds in Oz

There are 8 adds and 1 delete for the Solactive Global Uranium & Nuclear Components Index to be implemented at the close on 4 February. There isn't...

Brian Freitas

New J. Hutton Exploration Report (Week Ending 01/02/19)

Gold Road Resources (GOR AU) Recommend BUY Gruyere JV (50/50) 91% complete, on schedule and budget 150koz pa Au attributable production to GOR,...

Boost Research

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52-week Range

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