Aura Energy Ltd managing director and CEO Andrew Grove tells Proactive's Stephen Gunnion about the significant progress made on the Tiris Uranium Project in Mauritania.
Grove detailed the strong economics shown in the February feed study, highlighting a seven-year mine life and an annual production of two million pounds of U308 uranium. With a resource base now increased by 55% to 91 million pounds, Aura Energy is focused on reaching a final investment decision by early next year.
The company has engaged Macquarie Bank to assist with funding, aiming for strategic investments to bridge equity gaps. Recent activities include the commencement of water drilling and the engagement of Project EQ for project management.
Grove emphasised the critical importance of water supply in the Sahara Desert location and the ongoing work to update the ESG framework.
He also discussed the progress at the Häggån project in Sweden, noting the potential lift of the uranium mining ban by the Swedish government, which could positively impact their significant uranium resources there. Investors should watch for upcoming news on mine optimisation studies, economic updates, capital cost reviews, and securing the first offtake with a major US utility.
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