Australia-based mining company Aura Energy announced that uranium grades at its figurehead Tiris mine in Mauritania are approximately 550% higher than previously expected.
Bulk leaching tests at the mine in which the firm holds an 85% stake have also indicated a low capital expenditure, low operating expenditure extraction rate potential of over 95% of known reserves.
Following the announcement, Aura Energy’s London share prices rose 5.1%.
With this resurgence in investor confidence and interest, the project is now being fast-tracked, a final investment decision expected in the first quarter of 2023.Aura’s largest drilling work to date, the Tiris greenfield uranium development has been awash with news this year as small project successes piled for this promising reserve. In February, Aura announced vanadium reserves discovered also present at the site, initial estimates placing them at 18.5 million pounds vanadium oxide and thus, positioning Mauritania as a potential competitor with prior leader South Africa […]
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