{"id":7275,"date":"2024-03-18T04:07:34","date_gmt":"2024-03-18T04:07:34","guid":{"rendered":"https:\/\/economicherald.net\/?p=7275"},"modified":"2024-03-18T04:07:34","modified_gmt":"2024-03-18T04:07:34","slug":"uranium-developer-aura-energy-is-glowing-after-raising-more-than-18m-for-project-development-and-exploration","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7275","title":{"rendered":"Uranium developer Aura Energy is glowing after raising more than $18m for project development and exploration"},"content":{"rendered":"

$16.2m raised to progress development of Tiris and Haggan projects
\nA further $2m in shares offered to eligible shareholders at an 18% discount to last closing price
\nThrough a FEED study, Tiris is shown to be a near-term and low-cost uranium project in Mauritania<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: Aura Energy is raising more than $18 million to advance pre-development activities at its 58.9Mlb Tiris uranium project in Mauritania and support further work at\u00a0 Haggan in Sweden.<\/strong><\/p>\n

Aura Energy (ASX:AEE)<\/strong><\/a> believes it can bring Tiris to life within 1.5 years of a final investment decision \u2013 earmarked for later this year \u2013 to produce 1.9Mlb per annum at just US$34.5\/lb.<\/p>\n

It comes after the company recently defined high-grade U3O8 mineralisation<\/strong><\/a> over a 6km2 area from recent Phase 1 drilling across almost 10,000m.<\/p>\n

Grades at its Hippolyte South prospect show mineralisation extending east and northwest and include up to 4.8m @ 1,170ppm U3O8 from 0.5m, while drilling at the Sadi prospect extended a further 1.2km from the current resource with up to 3.2m @ 363ppm U3O8 from 0.6m.<\/p>\n

Some of the 13,000km2 of new tenement applications also overlie large radiometric anomalies adjacent to the current resource at Tiris East, further demonstrating the huge potential of the region.<\/p>\n

\u00a0<\/p>\n

Cap raise has skin in the game<\/strong><\/h2>\n

Firm commitments from professional and sophisticated investors to raise $16.2 million through a share placement of 90.2 million shares at 18c per share have been received to advance its flagship Tiris uranium project, representing an 18.2% discount to the last closing price of 22c.<\/p>\n

AEE is also allowing other eligible shareholders to participate in a share purchase plan for a further $2 million at the same price.<\/p>\n

New CEO Andrew Grove is putting his money where his mouth is and will also pour in $100,000 of his own funds.<\/p>\n

Grove says the company is delighted with the support for the placement which saw a number of highly credentialled investors join the AEE register.<\/p>\n

\u201cExisting shareholders can participate in this exciting period of growth on the same terms as the placement through the share purchase plan,\u201d he says.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

\u00a0<\/p>\n

This article was developed in collaboration with Aura Energy, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Uranium developer Aura Energy is glowing after raising more than $18m for project development and exploration<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

$16.2m raised to progress development of Tiris and Haggan projects A further $2m in shares offered to eligible shareholders at an 18% discount to last [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7276,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nUranium developer Aura Energy is glowing after raising more than $18m for project development and exploration - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=7275\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uranium developer Aura Energy is glowing after raising more than $18m for project development and exploration - 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