Aura Energy (ASX:AEE) has tapped into surging global demand for nuclear fuel, securing $20 million through a heavily oversubscribed share placement.
The capital raise, backed by a mix of Australian and international institutional investors, involved the issuance of approximately 97.6 million shares at $0.205 each.
The price represents a 14.6% discount to the last closing price, signaling strong market confidence despite the entry premium.
The proceeds are strategically earmarked to propel the Tiris Uranium Project in Mauritania toward a final investment decision targeted for Q3, while also funding critical resource definition and exploration activities.
The timing of the raise is particularly poignant as uranium prices hit a two-year peak, crossing US$100 per pound this week.
Executive Chair Philip Mitchell highlighted a "perfect storm" of demand drivers, including the US government’s US$80 billion commitment to new nuclear reactors and the massive power requirements of AI data centres.
Beyond Mauritania, Aura is also capitalising on Sweden's recent pro-nuclear legislative shifts via the Häggån transaction, which will see that asset developed through a separate TSX-listed vehicle.