Uranium is a dense, radioactive metallic element, naturally occurring in most rocks and soil and is the principal fuel for nuclear reactors. Uranium is found as an oxide or complex salt in minerals such as pitchblende and carnotite. It has an average concentration in the earth's crust of approximately two parts per million.
There is a strong ongoing commitment from many countries for nuclear energy, with China, India, Russia, South Korea and South Africa all reaffirming continued use of this energy source. There does not appear to be any reduction demand for uranium in the future.
Aura is looking at several different types of uranium occurrences with an initial focus on close to surface, open pittable deposits.