Tiris Uranium Project

Near term, low cost, permitted uranium production

The Tiris Uranium Project has successfully defined a significant uranium resource that is readily accessible for extraction and beneficiation. Excellent economic production metrics have been ratified by the recent Enhanced Feasibly Study (EFS) and the Company has a productive relationship with the Government of Mauritania who hold a 15% stake in the project.

Resource Estimate

Mineral Resource Estimate of 184.0 Mt @ 225ppm containing 91.3 Mlbs U3O8

Robust Economics

Exceptional economics delivering post-tax NPV of US$ 388 million and post-tax IRR of 36%

Recent FEED study

Defined a near-term low-cost 2 Mlbs U3O8 pa uranium project with a 17-year mine life and very strong economics including 2.5 year pay-back at a US$80/lb U3O8 price.

Permitting in place

Exploitation and Environmental permits in place, 30-year Mining Convention granted

Resource Estimate

Mineral Resource Estimate of 184.0 Mt @ 225ppm containing 91.3 Mlbs U3O8

Robust Economics

Exceptional economics delivering post-tax NPV of US$ 388 million and post-tax IRR of 36%

Recent FEED study

Defined a near-term low-cost 2 Mlbs U3O8 pa uranium project with a 17-year mine life and very strong economics including 2.5 year pay-back at a US$80/lb U3O8 price.

Permitting in place

Exploitation and Environmental permits in place, 30-year Mining Convention granted

Low capital and operating cost, scalable production and a long life of mine

The Tiris Project has several characteristics that provide an operational advantage and contribute to the favourable economics outlined in the EFS. This places the project close to the top of the queue of uranium assets that can be brought to production to meet rising global demand.

Project life

Ore Reserve Estimates and Mineral Resource Estimates support initial 16-year project life.

Capital cost

Initial capital cost of US$ 87.9 million, cost-efficient scalability for additional capital of US$ 90.3 million to deliver a 150% increase in production to 2.0 Mlbs pa U3O8.

Free-dig open pit

Shallow, free-dig open pit mining with no crushing and grinding deliver excellent cash margins driven by an AISC of US$ 28.77 / lb U3O8.

Expansion potential

High-grade Tiris West and other resource areas have potential for further expansion.

Offtake and financing options advancing

Aura has already secured an initial offtake agreement for a small proportion of early production. With discussions ongoing with additional offtake partners and debt providers, the Company will continue to de-risk the pathway to development.

  • Offtake Agreement with Curzon secured in 2019 and currently progressing discussion with other leading global customers
  • Ongoing discussions progressing with potential debt providers
  • Alternative financing options remain open including strategic equity investments, offtake financing, etc.

Register your interest for the Latest ASX Announcements