REG - Aura Energy Limited - Half Year Report
13/03/2025 07:30
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RNS Number : 5333A Aura Energy Limited 13 March 2025
13 March 2025
Half Year Report
Aura Energy Limited (ASX: AEE, AIM: AURA) ("Aura" or the "Company") is
pleased to announce that it has released its Interim Financial Report for the
Half-Year ended 31 December 2024.
A full version of the Interim Financial report can also be viewed here:
http://www.rns-pdf.londonstockexchange.com/rns/5333A_1-2025-3-13.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5333A_1-2025-3-13.pdf)
The Interim Financial Report is also available on the Company's website
at: www.auraenergy.com.au (http://www.auraenergy.com.au)
Directors' Report
Your directors present their report on the consolidated entity consisting of
Aura Energy Limited and the entities it controlled at the end of, or during,
the half-year ended 31 December 2024.
Directors
The following persons were Directors of the Company during the whole of the
Period and up to the date of this report, unless otherwise stated:
Mr Philip Mitchell, Non-Executive Chair
Mr Bryan Dixon, Non-Executive Director
Mr Warren Mundine, Non-Executive Director
Mr Patrick Mutz, Non-Executive Director
Mr Andrew Grove, Managing Director and Chief Executive Officer
Principal activities
The principal activities of the consolidated entity during the course of the
Period were the development, exploration and evaluation of uranium in
Mauritania, and exploration and evaluation of polymetallics in Sweden which
also includes significant uranium resources.
There was no significant change in the nature of these activities during the
Period.
Operations Review
Aura, an ASX and AIM-listed minerals exploration and development company,
continued to advance its portfolio of uranium and polymetallic projects during
the Period. The Company focused on progressing the development of the Tiris
Uranium Project in Mauritania and the Häggån Polymetallic Project in Sweden,
achieving key milestones outlined below. Aura remains dedicated to delivering
shareholder value through responsible project development, operational
efficiency, and disciplined capital management.
Tiris Uranium Project
The Tiris Uranium Project in Mauritania continues to progress towards
development. During the first half of FY25, Aura achieved several key
milestones in advancing Tiris:
· Substantial Increase in Ore Reserves: On 20 December 2024, Aura
announced a 49% increase in Ore Reserves 1 (#_ftn1) , following a 55% Mineral
Resource Estimate increase in June 2024 2 (#_ftn2) . The total Ore Reserve
now stands at 62.8 million tonnes at 243 ppm U(3)O(8), containing an estimated
33.6 million pounds of U(3)O(8)
· Successful Capital Raising: Aura secured A$9 million 3 (#_ftn3)
(before costs) through a placement to professional and sophisticated
investors, including A$6.5 million from Sachem Cove Partners LLC. The funds
will support development activities at Tiris beyond the Final Investment
Decision (FID), expected in early 2025, with production targeted for late
2026/early 2027
· Updated Production Target and Option Study: In September 2024,
the company released its production update reflecting the improved project
economics, with an NPV(8) was US$499 million, and internal rate of return
(IRR) of 39% and a 2.25 year payback period 4 (#_ftn4) . The life of mine
post tax cash flows is US$1,509 million. On 13 December 2024, the company
released that it had evaluated options to increase production capacity at
Tiris from the third year of operations. The most prospective scenario
involves expanding the mining rate to 6,250,000 tonnes per annum, potentially
increasing annual production to approximately 3,000,000 pounds of U(3)O(8).
This expansion could enhance the project's net present value 8 by 9% to US$544
million, increase the IRR to approximately to ~45% post tax, and boost post
tax, average annual cash flows by 37%
· Advancement of Engineering and Early Works: Engineering
contractor Wood was appointed to undertake a basic engineering and early works
definition program, while ECG Engineering was engaged to develop a
cost-effective power generation solution for Tiris(4)
· Other Key Developments:
o Secured all material permits to allow the construction and operation of
Tiris 5 (#_ftn5)
o Contracted Orano NPS, the leading international company specialising in
the transportation of radioactive materials for the future uranium oxide
concentrate (UOC) shipments from Tiris to international converters(6)
o Completed the restructure of the uranium offtake agreement with Curzon
Uranium Ltd 6 (#_ftn6)
o Commenced Hydrogeological drilling and long-term pump testing of the
Taoudeni Basin (~100km south of the Tiris uranium project) and the C22
borefield (~30km from the Tiris uranium project) with several high yielding
targets intersected 7 (#_ftn7)
o Progressed discussions for sourcing project finance (debt and equity) to
fund the development of the Tiris Uranium Project
The Tiris Uranium Project also holds significant potential for further Mineral
Resource and Ore Reserve growth around Tiris East, and across northern
Mauritania within Aura's 13,000km2 of tenements under application(( 8
(#_ftn8) )).
These developments reinforce Aura's commitment to advancing Tiris towards
production, improving economic viability, and exploring future growth
opportunities.
Looking ahead to the second half of FY25, Aura will continue developing the
Tiris Uranium Project, including basic engineering and early works definition,
completion of water borefield testing, engineering, procurement and
construction management (EPCM) documentation and progressing funding
opportunities for the development of the project.
These advancements validate the robust nature of the project, extending mine
life, enhancing economics, and de-risking project delivery as the Company
moves towards FID in 2025 and operations in 2027.
Häggån Polymetallic Project
Since 1 July 2024, Aura has made progress in advancing Häggån:
· Exploitation Permit Application Submitted: On 5 September 2024,
Aura submitted an exploitation permit application for the Häggån K nr 1 area
to the Swedish Mining Inspectorate, a critical step toward securing project
development approvals 9 (#_ftn9)
Additionally, on 20 December 2024, a Swedish government inquiry recommended
lifting the national ban on uranium mining, in place since 2018. The proposal
suggests regulating uranium as a concession mineral under the Minerals Act,
allowing economically viable deposits to be developed. If adopted, the
legislation is expected to take effect on January 1, 2026.
Aura welcomed this recommendation, highlighting that the Häggån Project
contains approximately 800 million pounds of uranium 10 (#_ftn10) . The
Company stated that the project 'could meet Sweden's needs for over 300 years
at current usage levels' 11 (#_ftn11) .
These developments underscore Aura Energy's commitment to advancing the
Häggån Project and the potential for future uranium extraction in Sweden,
pending legislative changes.
Corporate
During the Period, Aura appointed Mr Mohamed El Moctar Mohamed El Hacene as
Country Manager, Mauritania. Mr. Hacene, a highly experienced Mauritanian
national, previously served as the country's Minister of Petroleum and Mines
from 2007 to 2008, during which time uranium was first discovered at Tiris by
Aura.
On 10 July 2024, the Company allotted 1,543,958 fully paid ordinary shares in
the capital of the Company ("Shares") to the option shortfall funding
underwriter's nominees, at the share issue price of A$0.052 per Share.
On 15 August, the Company announced the completion of the previously announced
restructure of the uranium offtake agreement with Curzon Uranium Ltd.(( 12
(#_ftn12) )) ("Curzon") which materially increased the price receivable for
planned uranium production at the flagship Tiris Uranium Project (the
"Project"), while releasing significant value for the Project. Pursuant to the
agreements:
§ Curzon received the US$3.5M (A$5.4M) restructuring fee in 29,914,530 Aura
shares priced at A$0.18 per share ("Restructuring Fee Shares"). These shares
remain escrowed until first production from the Project
§ Aura made a private placement to Curzon of 29,914,530 Aura shares, valued
at US$3.5M (A$5.4M) in aggregate ("Placement Shares") with 50% of these Shares
escrowed until the earlier of 30 June 2025 or when FID is made on the Project
§ Aura also issued 5,982,906 unlisted free attaching options ("Options") to
Curzon on the basis of one Option for each five Placement Shares, priced at
A$0.20 per option and expiring 1 September 2025
§ In aggregate, Curzon has been issued 59,829,060 new shares in Aura and
5,982,906 Options
On 17 December 2024, Aura successfully raised A$9 million (before costs)
through a placement to accelerate the development of the Tiris Uranium
Project. The funds will be used to progress development activities beyond FID,
including early works expected in 2025, with production targeted for late 2026
/ early 2027. Petra Capital Pty Limited acted as the sole lead manager and
bookrunner for the placement(( 13 (#_ftn13) ))(.)
Following shareholder approval in November 2024, 7,837,210 Zero Priced Options
(ZEPO's) were issued to Directors, with 1,500,000 expiring 25 November 2029
and 6,337,210 expiring 30 June 2029.
In addition, 14,126,998 ZEPO's expiring 30 June 2029 with performance-based
vesting conditions were issued to employees.
Financial Review
The Group's consolidated net loss for the half year ended 31 December 2024
after providing for income tax amounted to $11,247,222 (31 December 2023:
$2,987,251).
The loss for the period is primarily driven by:
§ Employee benefits of $721,729 (2023: $1,175,696)
§ Corporate & administrative expenses of $2,363,435 (2023: $1,423,601)
§ Share based payment expenses of $5,791,240 (2023: $523,173)
§ Impairment expenses of the Group's Tasiast South Gold Exploration and
Evaluation assets of $2,630,088 (2023: nil)
The Group held net assets of $63,722,132 as at 31 December 2024 (30 June 2024:
$55,068,420), including cash and cash equivalents of $20,593,775 (30 June
2024: $16,470,818).
Refer to the preceding "Operations Review" section for further details on the
operations of the Company.
Key Risks
Management of the business and the execution of the Board's strategy are
subject to a number of key risks and uncertainties, our approach to managing
these is detailed below:
Health and safety
Exploration and mining include safety risks from both internal and external
factors and require necessary precautions to be put in place to minimise
adverse outcomes. The most prominent risk, due to the geological spread of
exploration activities, is associated with the transportation of personnel to
and from project sites, particularly the risk of road injuries and fatalities.
The Company has in place an OH&S policy that is required to be adhered to
at all times by its employees and contractors and will implement additional
policies and protocols as activity ramps up, including transportation
standards policies, vehicle safety checks and establishing emergency response
protocols.
Tenure Risks
Mining and exploration tenements are subject to periodic renewal, and there is
no guarantee that the Company's current or future tenements or applications
will be approved. The Company's tenements in Mauritania and Sweden must comply
with the respective mining acts, and maintaining, renewing, or obtaining
additional exploration or mining licenses depends on securing the necessary
statutory approvals and fulfilling the required conditions of the permits,
such as development obligations and milestones.
A requirement of the Tiris mining convention requires the permit holder to
initiate mining operations or project development within 24 months of
receiving the operating permits. Whilst the date upon which the permit was
granted and thus when the 24-month period commenced is subject to different
interpretations, it is understood that the Ministry may believe that the 24
month expired in January 2025. Nevertheless, the Mining Code permits the
Minister to either extend the development period under specific conditions and
or to issue a permit default notice if the projects development doesn't occur
within the specified timeframe
Crucially, the Company has received legal advice concluding that the Permits
held by Tiris Ressources SA, are valid and in full force and the Minister has
not issued a default notice in relation to Tiris's tenure. Friendly
collaborative discussions with the Ministry are ongoing regarding a 36-month
extension for the development of the Tiris Uranium Project, including meeting
production by early 2027.
Financing discussions are well advanced and expected to conclude by mid-2025.
The Company has also significant ongoing works programs at the Project
including water development, engineering and requests for tenders around
project development as well as building the in-country team to deliver the
Project. The Company remains in frequent dialogue with the Ministry, is
working collaboratively with the government to encourage investment into
Mauritania and is confident of the continued support of the relevant
authorities. The Directors are confident that the negotiations will be
concluded satisfactorily, allowing for the Company to progress to production
within the above time frame.
At Häggån an Exploitation Permit application for Häggån K nr 1 was
submitted to the Swedish Mining Inspectorate in August 2024. The Swedish
Mining Inspectorate considers the Exploitation Permit application the Häggån
no 1 exploration license remains valid. The Company believes these
applications will be considered favourably due to the considerable expenditure
and work undertaken over the Project to date.
There is no assurance that the renewals or applications will be granted on a
timely basis or without any new conditions, such as increased expenditure or
work commitments. The imposition of new conditions or the inability to meet
those conditions may adversely affect the operations, financial position
and/or the performance of the Company. Additionally, the Company cannot
guarantee that tenement applications or renewals will be granted in full, in
part, or on a timely basis.
Exploration and Development Risks
Mineral exploration and development activities are inherently risky. There is
a risk that the feasibility study and associated technical work may not
achieve the expected results and that a failure to develop and operate
projects in accordance with expectations could negatively impact results of
operations and the company's financial position. Risks to the Company's
development projects include the ability to acquire and/or obtain appropriate
access to property, regulatory approvals, supply chain risks, construction and
commissioning risks.
Community/Social Risk
The Group's operations take place amidst varying cultural practices. The
evolving expectations of these communities are managed through active
community engagement, development and implementation of community relations
strategies based on stakeholder concerns and maintaining strong relationships
with communities and delivering on its commitments.
Regulatory and Compliance Risk
The company faces challenges related to new or evolving regulations and
standards that are beyond its control. These regulations are often complex and
challenging to predict. Opportunities for growth and development may be at
risk due to changes to fiscal or regulatory frameworks, adverse changes in
tax or other law, differences in sustainability standards and practices, or
shifts in existing political, judicial, or administrative policies, as well as
evolving community expectations.
Anti-Bribery and Corruption Risk
Aura has a clear policy alongside internal controls and procedures aimed at
mitigating risks associated with Anti-Bribery and Corruption, includes
providing training and compliance programs to both employees and contractors.
These programs address various risks and associated scenarios, including
unauthorised payments or offers of payments involving employees, agents, or
distributors, which could potentially violate relevant anti-corruption laws.
Operations in Foreign Jurisdictions
The Company operates in foreign jurisdictions, specifically in Mauritania and
Sweden, where its projects are located. These projects are exposed to various
risks, including the potential for unfavourable political and economic
changes, fluctuations and controls related to foreign currency, civil unrest,
political upheavals, or conflicts. Furthermore, unforeseen events can curtail
or interrupt operations on these properties, restrict capital movement, or
lead to increased taxation. The Company remains proactive and closely monitors
the political and economic landscapes of the jurisdictions in which it
operates.
Market Risk
The Company is developing mineral projects with the intention to produce
commodities for sale across a variety of markets. Forecast of supply and
demand dynamics and the pricing that may be received for those products is
inherently complex and subject to factors outside of the Company's control.
There is a risk that factors outside of the Company's control may negatively
affect markets. These factors could include geopolitical events, over supply
or reduced demand. The Company mitigates this risk through efforts to engage
offtake contracts to ensure consistency in pricing and through
diversification of products.
Funding Risk
The Company will require additional funding to bring the Tiris Uranium Project
into production and advance the Häggån Polymetallic Project. There is a risk
that funding may not be available on acceptable terms for these projects. The
Company seeks to mitigate this risk by diversifying potential funding sources
between debt, equity, joint venture partnering and other options. Additional
work to de-risk technical, social, environmental and permitting will increase
the availability of funding options.
The Company is also exposed to a range of market, financial and governance
risks. The Company has risk management and internal control systems to manage
material business risks which include insurance coverage over major
operational activities and regular review of material business risks by the
Board.
Significant changes in the state of affairs
There were no significant changes in the state of affairs of the Group during
the Period.
Events occurring after the balance sheet date
There are no significant events after the balance date that require disclosure
in this financial report.
Dividends
No dividends have been paid or declared by the Company for the current
financial period. No dividends were paid for the previous financial period.
Auditor's independence declaration
A copy of the auditor's independence declaration as required under section
307C of the Corporations Act 2001 is set out on page 10.
This report is made in accordance with a resolution of directors.
Andrew Grove
Managing Director and CEO
13 March 2025
Condensed Consolidated Statement of Profit or Loss & Other Comprehensive
Income
For the half year ended 31 December 2024
31 Dec 2024 31 Dec 2023*
Restated
$ $
Expenses
FX losses (24,010) (11,228)
Employee benefits (721,729) (1,175,696)
Corporate & administrative expenses (2,363,435) (1,423,601)
Share based payment expenses (5,791,240) (523,173)
Impairment expenses (2,630,088) -
Operating loss (11,530,502) (3,133,698)
Net finance income 283,280 146,447
Loss before income tax expense (11,247,222) (2,987,251)
Income tax expense - -
Loss after income tax expense for the year attributable to (11,247,222) (2,987,251)
the owners of Aura Energy Limited
Loss is attributable to:
Owners of Aura Energy Limited (11,183,410) (2,979,549)
Non-controlling interests (63,812) (7,702)
(11,247,222) (2,987,251)
Other comprehensive income
Items that may be reclassified to profit or loss:
Exchange differences on translation of foreign operations 460,253 142,393
Total comprehensive loss for the year, net of tax 460,253 142,393
Loss after income tax for the year attributable to equity holders of the (10,786,969) (2,844,858)
Company
Total comprehensive income for the Period is attributable to:
Owners of Aura Energy Limited (10,730,966) (2,860,466)
Non-controlling interests (56,004) 15,608
(10,786,969) (2,844,858)
Basic and diluted loss (cents per share) (1.34) (0.52)
*During the year ended 30 June 2024, the Company determined that the Tasiast
Group no longer met the criteria for a disposal group under AASB 5 and was
reclassified accordingly. Refer to the Group's 30 June 2024 annual report for
more details.
The above Condensed Consolidated Statement of Profit or Loss and Other
Comprehensive Income should be read in conjunction with the accompanying
notes.
Condensed consolidated statement of financial position
As at 31 December 2024
31 Dec 2024 30 Jun 2024
$ $
Assets
Current assets
Cash and cash equivalents 20,593,775 16,470,818
Receivables 136,364 88,196
Other current assets 162,549 134,445
Total current assets 20,892,688 16,693,459
Non-current assets
Security deposits 58,406 57,399
Plant and equipment 25,823 10,410
Right of use assets 179,377 218,421
Exploration and evaluation 44,753,044 41,894,715
Total non-current assets 45,016,650 42,180,949
Total assets 65,909,338 58,874,408
Liabilities
Current liabilities
Trade and other payables 1,832,544 2,163,578
Employee benefits 121,343 166,841
Other current liabilities - 5,960
Short term loans - 1,202,004
Lease liabilities 132,507 111,018
Total current liabilities 2,086,394 3,649,401
Non-current liabilities
Employee benefits 6,416 5,870
Lease liabilities 94,393 150,717
Total non-current liabilities 100,809 156,587
Total liabilities 2,187,203 3,805,988
Net assets 63,722,135 55,068,420
Equity
Share capital 123,570,696 104,536,636
Other equity 314,346 314,346
Other reserves 3,799,187 3,645,166
Accumulated losses (63,800,780) (53,322,418)
Capital and reserves attributable to owners of parent 63,883,449 55,173,730
Non-controlling interests (161,314) (105,310)
Total equity 63,722,135 55,068,420
The above Condensed consolidated statement of financial position should be
read in conjunction with the accompanying notes.
Condensed consolidated statement of changes in equity
As at 31 December 2024
Attributable to owners of Aura Energy Limited
Share capital Other equity Other reserves Accumulated losses Total Non-controlling interests Total equity
$ $ $ $ $ $ $
Balance at 1 July 2024 104,536,636 314,346 3,645,166 (53,322,418) 55,173,730 (105,310) 55,068,420
Loss after income tax expense for the half year - - - (11,183,410) (11,183,410) (63,812) (11,247,222)
Other comprehensive income for the half year, net of tax - - 452,444 - 452,444 7,809 460,253
Total comprehensive loss for the half year - - 452,444 (11,183,410) (10,730,966) (56,004) (10,786,969)
Transactions with owners in their capacity
as owners
Contributions of equity, net of transaction costs and tax 13,569,159 - - - 13,569,159 - 13,569,159
Share issued in lieu of restructuring fee 5,384,615 - - - 5,384,615 - 5,384,615
Issue of shares to settle options funding loan 80,286 - - - 80,286 - 80,286
Loan funded securities - - 406,625 - 406,625 - 406,625
Lapse of equity-based payments - - (705,048) 705,048 - - -
Balance at 31 December 2024 123,570,696 314,346 3,799,187 (63,800,780) 63,883,449 (161,314) 63,722,135
The above Condensed Consolidated Statement of Changes in Equity should be read
in conjunction with the accompanying notes.
Condensed consolidated statement of changes in equity
As at 31 December 2023
Attributable to owners of Aura Energy Limited
Share capital Other equity Other reserves Accumulated losses Total Non-controlling interests Total equity
$ $ $ $ $ $ $
Balance at 1 July 2023 81,832,301 314,346 4,464,106 (46,733,187) 39,877,566 (75,271) 39,802,295
Loss after income tax expense for the half year - - - (2,979,549) (2,979,549) (7,702) (2,987,251)
Other comprehensive income for the half year, net of tax - - 119,083 - 119,083 23,310 142,393
Total comprehensive loss for the half year - - 119,083 (2,979,549) (2,860,465) 15,608 (2,844,858)
Transactions with owners in their capacity
as owners
Options exercised 346,328 - - - 346,328 - 346,328
Transfer from reserves on exercise of options 99,902 - (99,902) - - - -
Loan funded securities - - 523,173 - 523,173 - 523,173
Balance at 31 December 2023 82,278,531 314,346 5,006,460 (49,712,736) 37,886,601 (59,663) 37,826,938
The above Condensed Consolidated Statement of Changes in Equity should be read
in conjunction with the accompanying notes.
Condensed consolidated statement of cash flows
For the half year ended 31 December 2024
31 Dec 2024 31 Dec 2023
$ $
Operating activities
Loss after income tax expense for the half year (11,247,222) (2,987,251)
Adjustments for:
Depreciation expense 53,705 36,726
Exchange fluctuations 38,348 (13,771)
Share based payments 5,791,420 523,173
Impairment expenses 2,630,088 -
Finance costs 81,514 8,066
Change in operating assets and liabilities:
Decrease/(increase) in other receivables (48,167) (120,684)
Decrease/(increase) in other operating assets (28,103) (59,476)
Increase/(decrease) in trade and other payables (331,032) (85,685)
Increase/(decrease) in employee benefits (44,950) (11,959)
Increase/(decrease) in other operating liabilities (5,960) 2,400
Net cash flows used in operating activities (3,110,359) (2,708,461)
Investing activities
Payments for plant and equipment (18,217) (5,740)
Payments for exploration and evaluation (5,032,482) (3,034,497)
Net cash used in investing activities (5,050,699) (3,040,237)
Financing activities
Proceeds from issue of shares from placement, 13,597,168 -
net of capital raising costs
Repayment of options funding agreement (1,221,865) -
Exercise of options - 346,328
Finance leases (62,504) -
Net cash from financing activities 12,312,799 346,328
Net decrease in cash and cash equivalents 4,151,741 (5,402,370)
Cash and cash equivalents, beginning of year 16,470,818 11,276,307
Effects of exchange rate changes on cash and cash equivalents (28,784) (7,799)
Cash and cash equivalents, end of the half year 20,593,775 5,866,138
The above Condensed Consolidated Statement of Cash Flows should be read in
conjunction with the accompanying notes.
For full Notes to the condensed consolidated financial statements please
review the Interim Financial Report via the link above.
ENDS
This release has been approved by the Board of Aura Energy Ltd.
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 SP Angel Corporate Finance LLP Tamesis Partners LLP
Managing Director and CEO
Nominated Adviser Broker
Aura Energy Limited
grove@auraee.com David Hignell Charlie Bendon
+61 414 011 383
Adam Cowl Richard Greenfield
Devik Mehta +44 203 882 2868
+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. The 2024 Front
End Engineering Design (FEED) Study 14 (#_ftn14) demonstrated Tiris to be a
near-term low-cost 2Mlbs U(3)O(8) pa near term uranium mine with a 17-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) 15
(#_ftn15) and uranium 16 (#_ftn16) resource. Utilising only 3% of the
resource, a 2023 Scoping Study 17 (#_ftn17) outlined a 17-year mine life
based on mining 3.5Mtpa.
1 (#_ftnref1) 20 Dec 2024 - ASX and AIM announcement: Substantial growth in
Ore Reserves and strategic progress at Tiris Uranium Project
2 (#_ftnref2) 12 Jun 2024 - ASX and AIM announcement: Aura increases Tiris'
Mineral Resources by 55% to 91.3Mlbs U(3)O(8)
3 (#_ftnref3) 17 Dec 2024 - ASX and AIM announcement: A$9 million placement
to accelerate the Tiris Uranium Project development
4 (#_ftnref4) 11 Sep 2024 - ASX and AIM announcement: Updated Production
Target improves economics at Tiris Uranium Project
5 (#_ftnref5) 15 Jul 2024 - ASX and AIM announcement: Tiris Uranium Project
fully permitted for development and operations
6 (#_ftnref6) 15 Aug 2025 - ASX and AIM announcement: Curzon offtake
restructure and placement completed
7 (#_ftnref7) 28 Jan 2025 - ASX and AIM announcement: Activities report for
the December quarter 2024
8 (#_ftnref8) 29 Nov 2023 - ASX and AIM announcement: Aura plans to
significantly expand the Tiris Project into a potentially world class uranium
province with a 13,000km tenure application
9 (#_ftnref9) 5 Sep 2024 - ASX and AIM announcement: Häggån Project
Exploitation Permit application submitted in Sweden
10 (#_ftnref10) 22 Aug 2012 - ASX and AIM announcement: Outstanding Häggån
Uranium Resource expands to 800 million pounds
11 (#_ftnref11) 23 Dec 2024 - ASX and AIM announcement: Swedish Government
inquiry recommends lifting uranium mining ban
12 (#_ftnref12) ASX Releases: "Update to Curzon Offtake Agreement" 16 April
2024 and "Curzon Elects to Receive Restructuring Fee in Shares" 9 May 2024
13 (#_ftnref13) 17 Dec 2024 - ASX and AIM announcement: A$9 million
placement to accelerate the Tiris Uranium Project development
14 (#_ftnref14) ASX and AIM Release: 28 Feb 2024 - FEED study confirms
excellent economics for the Tiris Uranium Project
15 (#_ftnref15) ASX and AIM Release: 10 Oct 2019 - Häggån Battery Metal
Project Resource Upgrade Estimate
16 (#_ftnref16) ASX and AIM Release: 22 Aug 2012 - Outstanding Häggån
Uranium Resource expands to 800 million pounds
17 (#_ftnref17) ASX and AIM Release: 5 Sept 2023 - Scoping Study Confirms
Scale and Optionality of Häggån
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