REG - Aura Energy Limited - Appointment of Country Manager – Mauritania

Aura EnergyAnnouncement

04/11/2024 07:00

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RNS Number : 7563K  Aura Energy Limited  04 November 2024

                                                                                                                        4 November 2024

 

 Appointment of Country Manager - Mauritania

Aura Energy Limited (ASX: AEE, AIM: AURA) ('Aura' or the 'Company') is
delighted to announce the appointment of Mr Mohamed El Moctar Mohamed El
Hacene to the newly established role of Country Manager Mauritania.

Mr. Hacene is a highly qualified Mauritanian national with extensive
experience in mining and international affairs. He previously served as
Mauritania's Minister of Petroleum and Mines from 2007 to 2008, during which
time uranium was first discovered at Tiris by Aura.

Mr Hacene has joined Aura as Country Manager and Director General of Tiris
Ressources SA, Aura's 85% owned Mauritanian subsidiary and holder of the Tiris
Uranium Project. He commenced at Aura on the 1 November 2024 after ten years
with the United Nations as Director, Economic Development and Integration
Division, Economic and Social Commission for Western Asia ('ESCWA') based in
Lebanon.

From 2011 to 2014, Mr. Hacene served as General Manager of External Relations
for Rio Tinto's Simandou iron ore project in Guinea. He has also provided
consultancy to various mining companies in Mauritania, including Woodside,
Société Nationale Industrielle et Minière, Paladin Energy, and General
Gold, as well as to the World Bank and the African Development Bank.

Mr. Hacene holds a Bachelor of Arts from the École Normale Supérieure in
Mauritania, a Master of Science in Mineral Economics from the WA School of
Mines at Curtin University in Australia, and he began a Ph.D. in Political
Science at Université de Grenoble in France.

 

Aura Energy Managing Director and CEO, Andrew Grove said:

"We are very pleased to welcome Moctar to the Aura Energy team.

Moctar's experience is outstanding and his passion for the Tiris Uranium
Project and developing the mining industry in Mauritania is formidable. Both
Aura and Mauritania will benefit significantly from his return to Mauritania
after a stellar international career.

Moctar is a key appointment in driving the development of the Tiris Uranium
Project into Mauritania's first uranium mine.

The appointment of Moctar as Country Manger is another important milestone as
Aura continues to rapidly progress the Tiris development to realise the
significant inherent value in the Project as demonstrated in the recent
Production Target update study 1  (US$499M NPV(8), 2.25-year payback period
and 39% IRR) and the significant upside and exploration potential of the area,
part of which was demonstrated by recent 55% increase in Mineral Resources to
91.3Mlbs U(3)O(8) 2 (.)"

 

 

ENDS

Aura Energy Ltd has approved this announcement.

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ('UK MAR').

For further information, please contact:

 Andrew Grove                                   Paul Ryan                                            SP Angel Corporate Finance LLP

 Managing Director and CEO                      Sodali & Co                                          Nominated Advisor and Broker

 Aura Energy Limited                            Investor & Media Relations                           David Hignell

 agrove@auraee.com (mailto:Agrove@auraee.com)   paul.ryan@sodali.com (mailto:paul.ryan@sodali.com)   Adam Cowl

 +61 414 011 383                                +61 409 296 511                                      Devik Mehta

                                                                                                     Grant Barker

                                                                                                     +44 203 470 0470

 

About Aura Energy (ASX: AEE, AIM: AURA) 

Aura Energy is an Australian-based mineral company with major uranium and
polymetallic projects in Africa and Europe.

The Company is focused on developing a uranium mine at the Tiris Uranium
Project, a major greenfield uranium discovery in Mauritania. 2024 FEED
Study 3  and Updated Production Target 4  demonstrated Tiris to be a near-term
low-cost 2Mlbs U(3)O(8) pa future uranium mine with a 25-year mine life with
excellent economics and optionality to expand to accommodate future resource
growth.

Aura plans to transition from a uranium explorer to a uranium producer to
capitalise on the rapidly growing demand for nuclear power as the world shifts
towards a decarbonised energy sector.

Beyond the Tiris Project, Aura owns 100% of the Häggån Project in Sweden.
Häggån contains a global-scale 2.5Bt vanadium, sulphate of potash ("SOP") 5 
and uranium 6  resource. Utilising only 3% of the resource, a 2023 Scoping
Study 7  outlined a 17-year mine life based on mining 3.5Mtpa.

Disclaimer Regarding Forward-Looking Statements

This ASX announcement (Announcement) contains various forward-looking
statements. All statements other than statements of historical fact are
forward-looking statements. Forward-looking statements are inherently subject
to uncertainties in that they may be affected by a variety of known and
unknown risks, variables and factors which could cause actual values or
results, performance or achievements to differ materially from the
expectations described in such forward-looking statements. The Company does
not give any assurance or guarantee that the anticipated
results, performance or achievements expressed or implied in those
forward-looking statements will be achieved.

The Company has concluded that it has a reasonable basis for providing the
forward-looking statements and production targets included in this
announcement and that material assumptions remain unchanged. The detailed
reasons for this conclusion are outlined throughout this announcement, and in
the ASX Releases, "Scoping Study Confirms Scale and Optionality of Häggån",
5 September 2023; "Aura's Tiris FEED Study returns Excellent Economics" 28
February 2024; "Tiris Uranium Project Enhanced Definitive Feasibility Study",
29 March 2023 and "Updated Production Target improves economics at Tiris
Uranium Project" 11 September 2024.

 

 

ASX and JORC Related Disclosures

Mineral Resources

The information on Mineral Resources for the Tiris Uranium Project in this
report is extracted from the ASX release on 12 June 2024 titled "Aura
increases Tiris Mineral Resources by 55% to 91.3Mlbs".

The information on Mineral Resources for the Tiris Uranium Project in this
report is extracted from the ASX release on 10 October 2019 titled "Häggån
Battery Metal Project Resource Upgrade Estimate Successfully Completed". These
reports can be viewed at
https://auraenergy.com.au/investor-centre/asx-announcements
(https://auraenergy.com.au/investor-centre/asx-announcements) .

 

The company confirms that it is not aware of any new information or data that
materially affects the information included in the original market
announcement and, in the case of estimates of Mineral Resources or Ore
Reserves, that all material assumptions and technical parameters underpinning
the estimates in the relevant market announcement continue to apply and have
not materially changed. The company confirms that the form and context in
which the Competent Person's findings are presented have not been materially
modified from the original market announcement.'

Production Targets

The information on Production Targets for the Tiris Uranium Project in this
report is extracted from the ASX release on 11 Sept 2024 titled "Updated
Production Target Improves Economics at Tiris". This report can be viewed at
https://auraenergy.com.au/investor-centre/asx-announcements
(https://auraenergy.com.au/investor-centre/asx-announcements) .

The company confirms that it is not aware of any new information or data that
materially affects the information included in the original market
announcement and that all material assumptions and technical parameters
underpinning the estimates in the relevant market announcement continue to
apply and have not materially changed.

 

 1  ASX and AIM Release: 11 Sept 2024 - Updated Production Target Improves
Economics at Tiris

 2  ASX and AIM Release: 12 June 2024 - Aura increases Tiris Mineral Resources
by 55% to 91.3 Mlbs

 3  ASX and AIM Release: 28 Feb 2024 - FEED study confirms excellent economics
for the Tiris Uranium Project

 4  ASX and AIM Release: 11 Sept 2024 - Updated Production Target improves
economics at Tiris Uranium Project

 5  ASX and AIM Release: 10 Oct 2019 - Häggån Battery Metal Project Resource
Upgrade Estimate

 6  ASX and AIM Release: 22 Aug 2012 - Outstanding Häggån Uranium Resource
expands to 800 million pounds

 7  ASX and AIM Release: 5 Sept 2023 - Scoping Study Confirms Scale and
Optionality of Häggån

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