Aura Energy (ASX:AEE, LSE: AURA) is focused on developing its Zero Emission Tiris Uranium Project in Mauritania, which will meet the increasing demand for uranium as a world shifts to one that’s decarbonized. This has been regarded by experts as being a major greenfields discovery and Aura Energy Limited has executed an offtake agreement with it already. Aura Energy Limited has more exploration and development work commencing soon.
In a world that is becoming increasingly decarbonized, there has been an increase in demand for Uranium. That’s why Aura Energy Ltd., with its low-capex, Zero Emission Tiris Uranium Project, will be providing the uranium to meet this increasing global need.
The company owns 100% interest in the Tiris uranium project covering an area of 390 square kilometers located in Africa.
Definitive Feasibility Study Completed
Aura Energy completed a definitive feasibility study in 2019 and has been fully permitted for development.
Latest Resources Estimate
Tiris has a total resource of 49 million pounds of uranium. Aura Energy has planned for production of approximately 12.4 million pounds of uranium over a 15 year period.
The maximum mining depth is a shallow 5 meters.
The capital cost is low at approximately $62.9 Million
The total after tax cash flow of $413 million AUD.
The average annual after tax cash flow is $27.4 million AUD.
The IRR for Tiris is 78% pre-tax and royalties, and has an approximate 3 1/4 year payback period.
C1 cash cost of $24.43/lb.
The all in sustaining cost (AISC) is $29.81 USD/lb.
Aura Energy also has 100% ownership of the Haggan vanadium project located in Sweden. The project has 15.2 billion pounds of global vanadium resource. The high grade zone for this project includes 1.1 billion pounds of vanadium.
The mine is currently planned to provide resource from a shallow 20-100 meter depth.
The company is targeting 2-3 million tons per year production which is approximately 5% of current global supply.
The company has noted that the capital and operating costs have been completed, along with the scoping study. Interestingly the mine will also produce value from sulphate of potash.
Aura Energy Limited was incorporated in 2005 and is based in Windsor, Australia.
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