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.
Exceptional economics delivering post-tax NPV of US$ 226 million and post-tax IRR of 28%
Exploitation and Environmental permits in place, 30-year Mining Convention granted
Exceptional economics delivering post-tax NPV of US$ 226 million and post-tax IRR of 28%
Exploitation and Environmental permits in place, 30-year Mining Convention granted
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.
Ore Reserve Estimates and Mineral Resource Estimates support initial 16-year project life.
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.
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.
High-grade Tiris West and other resource areas have potential for further expansion.
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.
