Aurora Energy Metals (1AE) H2 2024 earnings summary

Executive summary

• Advanced the Aurora Uranium Project (AUP) in Oregon/Nevada, completing a Scoping Study confirming an 11-year Life of Mine and annual production target of 1.15Mlbs U3O8, with strong economic metrics and strategic alignment to US clean energy goals.

• Metallurgical testwork and technical studies indicate potential for reduced operating costs and improved recoveries, de-risking the project.

• Leadership changes included the appointment of a US-based Project Manager and a new Non-Executive Director to support local regulatory navigation and project advancement.

Financial highlights

• Operating loss for FY24 was $2,282,091, a significant improvement from $5,662,154 in FY23.

• Basic loss per share was 1.27 cents (FY23: 3.90 cents).

• Cash and cash equivalents at year-end were $1,595,171, down from $3,553,657 in the prior year.

• No dividends declared or paid.

Outlook and guidance

• Focus for FY25 is on further metallurgical testwork, process optimisation, and advancing permitting, with a Pre-Feasibility Study targeted for early 2025.

• The company remains optimistic about uranium market fundamentals and its positioning as a future domestic supplier.