Aura Successfully Completes A$10 Million Placement To Support Its Project Readiness And Growth Strategy

Aura Energy Limited (ASX: AEE, AIM: AURA) (“Aura” or “the Company”) is pleased to announce that it has received firm commitments to raise A$10 million via the placement of approximately 54.05 million new fully paid ordinary shares (“New Shares”) at an offer price of A$0.185 per New Share (“Placement”).

KEY POINTS:

• Aura raises A$10 million with support from worldwide investors
• Placement received support from new and existing shareholders
• Company to offer eligible existing shareholders the opportunity to participate in a Share Purchase Plan to raise a further A$1 million
• Proceeds will be used to advance development across Aura’s project portfolio including:
  • Progress the Tiris Project in Mauritania to development – ready to meet forecast uranium market strengthening
  • Target the growth in resources in the Tiris Zemmour province of Mauritania
  • Support the Swedish government’s strategy to create energy independence

The Placement was supported by existing shareholders investors including Lind Partners and a number of new investors. The Company is also particularly pleased to introduce several new international investors to the register.

Aura Chair Philip Mitchell said,

“This capital raising provides the required funding for Aura to continue our development planning works on the Tiris Project ensuring that it is ready for development when the uranium market signals and to enable ongoing efforts to identify additional, higher grade, low-cost resources in the Tiris Zemmour region of Mauritania.

“Naturally, in Sweden, we will continue to support the Government strategy as it systematically reviews the national energy policy and evaluates the requirements to retract the ban on uranium mining.”

The Company continues to look for opportunities to grow its resource base within the Tiris Zemmour region and to enhance the value of the Tiris Project to Mauritania and Aura shareholders. Aura is progressing the development of the Tiris Project, with the imminent submission of a permit application for the export of uranium from Mauritania. A decision by the Mauritanian Government with respect to this submission is expected towards the end of 2023.

Aura also continues to support the Swedish Government’s strategy to create energy independence and the methodical approach it is taking to rescind the current ban on uranium mining. In parallel, Aura is undertaking studies required for the submission of an exploitation permit for the Häggån Project. The funds from the Placement will allow this work to be continued. Aura’s Managing Director Dave Woodall will be in Sweden in late May to hold discussions on the project with key government officials.

Click here for the full ASX Release

This article includes content from Aura Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.