Aura Energy (AEE) H2 2025 earnings summary

Executive summary

• Transitioned from explorer to near-term uranium producer, focusing on Tiris project in Mauritania and advancing Häggån project in Sweden.

• Tiris project mine life extended to 25 years, production target increased by 44% to 43.5Mlbs U3O8, and Ore Reserves upgraded by 49% to 33.6Mlbs.

• Secured offtake agreements covering ~25% of projected uranium production for 2028–2031, reducing downside risk.

• Advanced project funding discussions, including with the US International Development Finance Corporation (DFC).

• Submitted exploitation license for Häggån; Swedish government progressing to lift uranium mining ban.

Financial highlights

• Net loss for FY25: $15.3M (FY24: $6.6M), driven by $6.3M share-based payments, $4.8M admin expenses, $2.6M impairment, and $2.2M employee benefits.

• Cash and cash equivalents at 30 June 2025: $11.7M (2024: $16.5M).

• Capitalised exploration and evaluation assets: $50.5M (2024: $41.9M).

• Raised $9M via placement to accelerate Tiris development.

• No dividends declared or paid.

Outlook and guidance

• Targeting Final Investment Decision for Tiris in early 2026, with construction to start in 2026 and first production in 2027.

• Focus on securing full project funding, advancing construction, and exploring expansion options at Tiris.

• Häggån project positioned to benefit from expected regulatory changes in Sweden by 2026.