Aura Energy (AEE) Q4 2024 TU earnings summary

Executive summary

• Advanced Tiris Uranium Project in Mauritania towards Final Investment Decision (FID) by early 2025, with full permitting secured post-quarter.

• Achieved a 55% increase in Tiris Mineral Resources to 91.3 Mlbs U3O8, exceeding exploration targets.

• Restructured Curzon offtake agreement, significantly increasing fixed uranium contract prices and project NPV.

• Progressed funding and strategic investor processes for Tiris, engaging Orimco and Macquarie Capital.

• Advanced Häggån Polymetallic Project in Sweden, preparing for exploitation permit amid potential regulatory changes.

Financial highlights

• Cash balance at 30 June 2024 was A$16.5 million, down from A$19.0 million in the previous quarter.

• Net cash outflow for the quarter was A$2.5 million, with major investments in exploration and evaluation assets (A$3.9 million).

• Net proceeds from Share Purchase Plan: A$1.7 million; options exercise: A$2.5 million.

• Estimated quarters of funding available: 3.1.

Outlook and guidance

• Targeting FID for Tiris by Q1 2025, with production expected to commence in 2026/27.

• Ongoing optimisation of mine plan and project scale based on enhanced resources.

• Continued funding activities and offtake negotiations planned for next quarter.

• Häggån exploitation permit submission expected by end of August.