Aura Energy Limited (ASX: AEE) has welcomed news that the Australian Nuclear Science and Technology Organisation (ANSTO) Minerals has confirmed that yellowcake product from the Tiris uranium project in Mauritania meets ASTM International specifications.
The company says the successful production of yellowcake product from beneficiation pilot plant concentrate samples from the Tiris Uranium Project has boosted product marketing opportunities.
The production of yellowcake in the form of uranium oxide concentrate (UOC) from the samples is a key milestone as the company moves towards near-term Phase 1 uranium production.
The result successfully completes the uranium recovery test work program at the ANSTO laboratory and indicates that Tiris production could be sold in the international market as a high-standard product without penalties.
“The successful production of yellowcake from material upgraded in the pilot plant is a significant step for Aura Energy,” Managing Director, Dave Woodall, said.
“It opens the door to commercial discussions with nuclear utilities, demonstrates the simple processing parameters required for uranium oxide production at Tiris and provides a strong technical basis for moving the project forward. This will allow us to focus on operating efficiencies as we progress to a final investment decision.”
About Aura Energy
Aura Energy is an Australian-based minerals company that has major uranium and polymetallic projects with large resources in Africa and Europe.
The company is now focused on uranium production from the Tiris Project, a major greenfields uranium discovery in Mauritania, with Aura announcing a Resource Upgrade in August 2021 of 10% or 5.0 million lb U3O8 bringing the total JORC Resource to 56 Mlbs (at a 100 ppm U3O8 lower cut-off grade).
Aura also completed a capital estimate update for the Tiris Definitive Feasibility Study, to reflect current global pricing, with these 2021 figures reconfirming Tiris as one of the lowest capex, lowest operating cost uranium projects.
In October 2021, the company entered a US$10m Offtake Financing Agreement with Curzon, which includes an additional up to US$10m facility, bringing the maximum available under the agreement to US$20m.
In 2022, Aura will continue to transition from a uranium explorer to a uranium producer, to capitalise on the rapidly growing demand for nuclear power as the world continues to shift towards a decarbonised energy sector.
For further information please visit: https://www.auraenergy.com.au/
