Tiris Uranium Project

Near term uranium production with significant upside potential

The Tiris Uranium Project is a low-risk, low-cost, long life future uranium mine. The exploration potential is significant with shallow mineralisation, less than 5m deep, which is also amenable to free-digging and beneficiation delivering very high-grades ~2,000ppm U3O8 to a conventional uranium leach plant. The recent Front End Engineering Study (FEED) demonstrated excellent economics and the Project is rapidly progressing towards development.

Tiris Fact Sheet - ENGLISH
Tiris Fact Sheet - FRENCH

Mineral Resources

91.3 Mlbs U3O8 Mineral Resource. Excellent exploration potential. Significant landholding – 13,000km2.

Robust Economics

Exceptional economics delivering post-tax NPV of US$499M and post-tax internal rate of return (IRR) of 39%

Recent FEED study

Defined a near-term low-cost 2 Mlbs U3O8 pa uranium project with a 25-year mine life and very strong economics including 2.25 year pay-back at a US$80/lb U3O8 price.

Permitting in place

Exploitation and environmental permits in place, 30-year mining convention granted

Mineral Resource

91.3 Mlbs U3O8 Mineral Resource.
Excellent exploration potential.
Significant landholding – 13,000km2.

Robust Economics

Exceptional economics delivering post-tax NPV of US$499 million and post-tax IRR of 39%

Recent FEED study

Defined a near-term low-cost 2Mlbspa uranium project with a 25-year mine life and very strong economics including 2.25 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 25-year project life.

Capital cost

Development capital cost of US$230M to deliver production of 2.0Mlbspa 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$35.70/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 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.

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