Aura Energy sets target for December investment decision
- Aura Energy finished a major study showing a US$500.3 million value for its Tiris Project.
- Share prices for the company increased by 5.41% following the update.
- The company aims to make a final investment decision in December with the initial production set for 2028.
Aura Energy (ASX:AEE) completed a bankable feasibility study for its Tiris Uranium Project in Mauritania, outlining a post-tax net present value of US$500.3 million.
The updated study expands on previous development plans by detailing a 26-year mine life with estimated initial development capital costs of US$349.8 million.
“Financing arrangements are well advanced—several strategic investors are working closely with us,” said Aura Energy Executive Chair Philip Mitchell.
Development capital estimates increased from the US$230 million forecast published in 2024 due to detailed plant engineering and purchased equipment costs.
The company stated that it aims to secure project funding and make a final investment decision before the end of December.
Following the announcement, the Aura Energy share price was up at $0.078.
The Tiris operation is forecast to produce 46.1 million pounds of uranium over its operational life by using shallow, free-digging mining techniques.
Aura Energy holds principal environmental and exploitation approvals for the project while discussions continue with potential lenders for US$150–170 million in senior debt.
