Aura Energy (AEE) H1 2025 earnings summary

Executive summary

• Advanced Tiris Uranium Project in Mauritania, achieving a 49% increase in Ore Reserves and securing all material permits for construction and operation.

• Raised A$9 million to fund Tiris development, with production targeted for late 2026/early 2027.

• Submitted exploitation permit for Häggån Project in Sweden; Swedish inquiry recommended lifting uranium mining ban.

• Restructured uranium offtake agreement with Curzon Uranium Ltd, increasing value for planned production.

Financial highlights

• Net loss for the half year ended 31 December 2024 was $11,247,222, up from $2,987,251 in the prior period.

• Loss driven by $5,791,240 in share-based payment expenses and $2,630,088 impairment of Tasiast South assets.

• Cash and cash equivalents increased to $20,593,775 from $16,470,818 at 30 June 2024.

• Net assets rose to $63,722,132 from $55,068,420 at 30 June 2024.

Outlook and guidance

• Final Investment Decision for Tiris expected in early 2025, with production targeted for late 2026/early 2027.

• Ongoing engineering, water borefield testing, and funding activities for Tiris in H2 FY25.

• Häggån Project development contingent on legislative changes in Sweden, with potential for significant uranium extraction.