Aura Energy (AEE) H2 2026 earnings summary

Executive summary

• Finalised Tiris Uranium Project flowsheet, resolving technical issues and enabling pilot plant construction, with commissioning expected in Nov 2026.

• Secured first long-term offtake agreement with a major US nuclear utility and signed an MOU with another international utility for potential equity investment and further offtake.

• Raised A$20M in equity, ending FY2026 with A$16M cash; advanced funding discussions for US$150–170M DFC debt and cornerstone equity.

• Sweden overturned its uranium mining ban, designating Häggån as a resource of national interest, enhancing project value.

• Leadership changes included new board appointments and executive transitions to strengthen project delivery.

Financial highlights

• Net loss for FY2026 was $11.6M, an improvement from $15.3M in FY2025, mainly due to lower share-based payments and no impairment charges.

• Cash and cash equivalents at 30 June 2026 were $16.0M, up from $11.7M the previous year.

• Capitalised exploration and evaluation assets increased to $56.3M from $50.5M.

• Share-based payment expenses were $2.1M, down from $6.3M in FY2025.

• No dividends declared or paid.

Outlook and guidance

• Targeting Final Investment Decision (FID) for Tiris by end of 2026, with construction to start in 2027 and first production by early 2029.

• Priorities include pilot plant commissioning, finalising project team, securing financing, and advancing exploration in Mauritania.

• Plans to unlock value at Häggån through engagement with Swedish authorities and potential strategic transactions.