Aura Energy's Tiris Uranium Project gains $22 million NPV boost

Aura Energy Ltd (ASX:AEE) managing director and CEO Andrew Grove joins Proactive’s Tylah Tully to discuss the completion of restructuring of a uranium offtake agreement with Curzon Uranium Ltd. The deal is set to increase the price receivable for planned uranium production at its flagship Tiris Uranium Project, while releasing significant value for the project. This restructuring increases the net present value (NPV) of the Tiris Uranium Project by US$22 million, raising it to US$388 million and enhancing the internal rate of return by 2% to 36%. The final agreement signed today remains consistent with previously disclosed terms. Curzon will receive a restructuring fee of US$3.5 million in Aura shares, amounting to 29,914,530 shares which are anticipated to be delivered on August 18, 2024. These shares will be escrowed until the project's first production. Aura also plans to carry out a private placement, issuing 29,914,530 shares to Curzon, with half of these shares also subject to escrow until either 30 June 2025 or the final investment decision. This funding will support the project until the final investment decision expected by Q1 2025. #ProactiveInvestors #AuraEnergy #ASX #Uranium #TirisProject #Mining #Investment #CurzonUranium #OfftakeAgreement #ProjectDevelopment #MiningInvestment #EnergySector #MineralResources #UraniumMining #EnergyProjects #AustraliaMining #MiningNews #ResourceDevelopment #AuraShares #InvestmentNews #TirisUranium #Minerals #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews