Aurora's community outreach gets a thumbs-up Posted: May 16, 2008, 1:30 PM by Peter Koven Mining Aurora Energy Resources Inc. has highly promising uranium deposits in Labrador. But the big challenge right now is getting approval for a mine from the Labrador Inuit, who recently voted in favour of a three-year moratorium on uranium mining. On Thursday, the company took a big step towards gaining that support. It unveiled a community outreach program that provides jobs for local communities, funds community initiatives, and ensures them that mining is safe. This is a very wise move, according to RBC Capital Markets analyst Adam Schatzker. "We believe [Aurora's] outreach efforts may generate goodwill among local stakeholders and should bolster the company's reputation," he wrote in a note. Aurora also presented a revised work plan that calls for $20.1-million in investment in 2008. With $117-million in cash on the balance sheet and no debt, Mr. Schatzker figures the company will have no trouble carrying out the plan. He rates the stock an "outperform" with a price target of $8.00. He considers that a "conservative" price target, even though it is roughly double the current level. "However, absent any corporate activity, we believe the upside to our target price may take more than 12 months to realize," he noted. Peter Koven