The Tiris Project positions Aura (AEE) as a significant near-term uranium producer

Company name: AURA ENERGY LIMITED

Code: AEE.ASX

As noted by the company’s Managing Director and CEO Andrew Grove, the?proceeds will place Aura Energy in a good position to accelerate advancing the Tiris Uranium Project towards FID this year and continue exploration to demonstrate the significant resource growth potential of the area. The Tiris Project positions Aura as a significant near-term uranium producer with initial production estimated to commence in 2026.

Current thematics supporting the positive uranium price trend, including:

• Available global uranium stocks have fallen considerably;
• EU sentiment towards nuclear power as an alternative and reliable fuel source to replace fossil fuels has improved significantly; and
• Renewable energy sources are proving to have practical limitations in terms of: Significant infrastructure requirements (including batteries) to link to existing power distribution networks Lack of continuous generation capability (especially solar and wind) Requiring larger land footprints than traditional and nuclear energy sources.

The United Nations' (“UN”) COP28 climate conference held in Dubai in December 2023, officially called for accelerating the deployment of low-emission technologies, including nuclear energy, to help achieve "deep and rapid decarbonisation". The decision represents the first time the 198 signatory countries to the UN Framework Convention on Climate Change have included nuclear energy in the Global Stocktake.

• Outlook for Nuclear is bullish as?demand for uranium in nuclear reactors is expected to climb by 28% by 2030 and nearly double by 2040 as governments ramp up nuclear power capacity to meet zero-carbon targets, as noted by a World Nuclear Association (WNA) report late 2023 (reuters.com). Aura is positioned to capitalise on the demand as they transition from a uranium explorer to a uranium producer.

• Aura has a focussed, commodity rich asset portfolio which includes:

Tiris Uranium Project (85% owned) – Located in North East Mauritania, Africa, Tiris is a near term, low cost, Uranium project with a complete Front End Engineering Study (FEED Study) and Enhanced Feasibility Study.

• Tiris is a robust long-life low-cost near term uranium project producing 2Mlbs pa U3O8 over 17 years and can be in production in 2026
• The ore is shallow <5m deep free digging and beneficiates to a very high grade of ~2000ppm U3O8 by simple screening resulting in a low AISC of US$34.5lb
• The FEED study confirms excellent economics and capital efficiency to develop Tiris into a globally significant near-term uranium operation: NPV8% of US$366 million IRR of 34% post tax and 2.5 year payback Uranium price of US$ 80/lb U3O8The Tiris Project is highly leveraged to the forecast uranium market growth in supply and price.

H?GG?N?Vanadium-Uranium Project (100% owned) - located in Sweden's Alum Shale Province, is one of the largest depositories of vanadium and uranium in the world. The Scoping Study released in September 2023 demonstrated the potential high value returns with NPV8 of between US$456M and US$1.3B? producing V (vanadium), SOP (sulphate of potash), Ni (nickel), Zn (zinc), and Mo (molybdenum) over 27 years and only utilising 3% of the known resource.

• Mineral Resources of over 2 billion tonnes has been defined at an average vanadium grade of 0.3% V2O5
• The resource also contains over 800Mlbs of uranium making it on of the biggest globally and Sweden are in to process of overturning the current uranium mining ban which should add significant additional value to the H?GG?N project. It was excluded from the Scoping study because of the ban.

• Managing Director & CEO – Andrew Grove, is a highly experienced mining and finance executive with extensive global industry experience across multiple commodities. This includes more than 30 years of managerial, technical, commercial and finance experience, including significant expertise in uranium and West African development and operations. He was most recently Managing Director at Chesser Resources Limited which was developing the Diamba Sud Gold Project in Senegal and acquired by Fortuna Silver Mines Inc. for a 95% premium late in 2023. Prior to Chesser, Andrew was the Group General Manager Business Development and Investor Relations at Perseus Mining Limited. ?He also spent over 14 years in Macquarie Bank undertaking mining finance many of which were in west Africa.

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• AEE’s highly experienced?Board?and?Management?Team, have extensive hands-on operational experience in exploration, mining and commercial production development in Australia and around the world.

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• Directors have skin in the game – a number have invested their own money via direct share purchases/capital raises and are fully committed to ransitioning from Explorer to Producer through the Low-Capex, Low-Opex Tiris Uranium Project in Mauritania

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About the company

Aura Energy (ASX: AEE, AIM:AURA) AURA ENERGY LIMITED(AEE) is an ASX-listed, Australian-based minerals company that has major uranium and Polymetallic projects with large resources in Africa and Europe. The company is now focused on uranium production from the Tiris Project, a major greenfield uranium in Mauritania.

A recent Enhanced Feasibility Study has increased the project NPV significantly which reconfirms Tiris as one of the lowest capex, lowest operating cost uranium projects that remain undeveloped in the world.

In October 2021, the company entered a US$10m Offtake Financing Agreement with Curzon, which includes an additional up to US$10m Facility, bringing the maximum available under the agreement to US $20m.

DISCLAIMER: ‘The information does not constitute personal financial advice. Consult your adviser or broker prior to making any investment decision.

For further information about this company, email – shareholder@pelshare.com.au