SIGNIFICANT BREAKTHROUGH ON TIRIS URANIUM PROJECT OPERATING COSTS

ESTIMATED OPERATING COSTS REDUCED BY 35% TO US$19.40/LB U3O8

SIGNIFICANT POSITIVE IMPACT ON TIRIS PROJECT ECONOMICS

Aura Energy Limited (AEE; ASX, AURA; AIM) is pleased to announce that following ongoing metallurgical optimisation and modelling, particularly around the leach reagent recycle and consumption, the operating cost for the Tiris Uranium Project has been reduced by an estimated 35%.

The estimated Tiris operating cost now stands at US$19.40/lb U3O8

Aura is currently completing a Definitive Feasibility Study (DFS) on the Tiris project, which includes additional resource definition work and metallurgical test work. This breakthrough has arisen from additional internal modelling using previous test work data to optimise primary leach reagent usage, the recycle of leach agent in the plant and consumption of the leaching reagent via impurities.

Commenting on the outcome Peter Reeve, Aura Energy’s Executive Chairman said „Aura has continued to work at improving the financial outcomes of the Tiris project and this reduction in operating cost will have a significant impact on project cashflow. It will also positively impact the approval threshold required for the project given current uranium prices.

„The technical team is diligent and experienced and this breakthrough is testament to the team’s work. The Tiris project has many natural attributes including shallow mining, beneficiation and a low development capital. Incorporating this new optimised reagent usage in the study to lower the operating cost below US$20 per pound uranium now makes the Tiris Uranium Project one of the most compelling uranium development projects in the world.“

 

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