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PERTH - Aura Energy Limited (ASX:AEE, AIM:AURA) reported progress on its flagship Tiris Uranium Project in Mauritania, with development activities continuing toward planned production in 2027, according to a quarterly activities report released Monday.
The U.S. International Development Finance Corporation (DFC) published the Environmental and Social Impact Assessment for the Tiris project on its website, marking a step forward in potential debt financing. The company stated it is advancing funding discussions with DFC, other financial institutions, and strategic equity investors, though all proposals remain non-binding.
Engineering work for the project continues, with basic engineering by Wood scheduled for completion in late Q3 2025. The company is currently evaluating supply and construction bids while conducting vendor test work on various processing technologies.
In Sweden, Aura has entered a collaboration agreement with Neu Horizon Uranium Ltd, investing A$100,000 for a minority equity stake. The partnership aims to advance government and regulatory engagement in Sweden, where Aura holds its Häggån Polymetallic Project.
The company noted that the Swedish government has submitted a legislative proposal to parliament that would overturn the national ban on uranium mining, with a target implementation date of January 1, 2026. The proposal remains subject to parliamentary approval.
Aura also announced leadership changes, with Philip Mitchell transitioning from Non-Executive Chair to Executive Chair to strengthen the company’s capacity in securing financing for the Tiris project.
As of June 30, 2025, Aura reported a cash balance of A$11.7 million, with forecast expenditure of A$4.5 million for the September quarter, providing approximately 2.6 quarters of funding at current rates.
The company’s activities report indicates continued focus on advancing project development funding, offtake contract negotiations, and engineering work at Tiris, while supporting the exploitation permit application for Häggån.
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