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PERTH - Aura Energy Limited (ASX:AEE, AIM:AURA), an Australian-based minerals company, has reported significant advancements in its Tiris Uranium Project in Mauritania and its Häggån Polymetallic Project in Sweden, according to its activities report for the quarter ended March 31, 2025.
The company’s Tiris Uranium Project is on track, with hydrogeological drilling and testing defining a groundwater supply 57% above the project’s requirements. This finding ensures sufficient water for the project’s anticipated lifespan. Aura has also made progress with potential financiers to secure funding for Tiris, although details remain confidential at this stage.
Aura’s team has been bolstered by the appointment of Mohamed Sid’Ahmed as General Manager Operations for Tiris. Sid’Ahmed’s experience includes his recent role at Leo Lithium’s Goulamina lithium mine in Mali.
Engineering activities are proceeding as scheduled, with basic engineering expected to be completed by July 2025. The company has received over 190 responses to development procurement and contract Expressions of Interest and Request for Proposal processes in Mauritania and internationally.
In Sweden, the government inquiry has recommended lifting the uranium mining ban, with a legislative proposal to be considered by the Swedish Parliament on January 1, 2026. Aura has submitted a supporting submission for the removal of this ban.
Aura’s balance sheet remains healthy with a cash position of A$16.2 million as of March 31, 2025. The company’s cash flow movements for the quarter included investments in exploration and evaluation assets of A$2.7 million, administration costs of A$1.0 million, and staff costs of A$0.5 million. With these figures, Aura has sufficient cash to cover the next 3.8 quarters at current expenditure rates.
For the upcoming June quarter, Aura plans to continue project development funding, off-take contract negotiations, and basic engineering for Tiris. Early works programs and baseline environmental and radiation monitoring are also on the agenda.
The company has confirmed that there is no new information that materially affects the information or key assumptions included in the original ASX announcements, ensuring transparency and consistency in reporting.
This summary is based on a press release statement and provides an overview of Aura Energy’s recent developments and future plans.
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