Vanadis IPO, page-175

MY point with Copperstone is not that they are a like for like comparison - they are definitely NOT.

But Haggan presents as a polymetal play, and Copperstone will naturally extract Uranium as part of their mining. What I mean to say is that they are a good test case for Expoitation licences proceeding after the Minerals ACt has passed. 

MY main point, and one that I think was argued well in Swedish Parliament, is that you cant define a ban on Uranium mining because all mining produces a Uranium output. IT's almost like the legislation has created a tautology. 

Because its currently so ill-defined the only three things we can say are certain:

1.existing permit holders can no longer user their permits to exploit uranium. They can however exploit other minerals in their holdings - vanadium being a concession mineral. 

2.No NEW permits will be granted from August 1st on to exploit Uranium 

3. Environmental Approval is required to exploit the concession minerals - this is the key one for Aura. There's no way to test what limits are acceptable for digging up Uranium as a waste product.But the Vanadium play is so massive, I cant see Uranium as the stumbling block you make it out to be.