Hunt for financing continues
Having been active in the uranium provinces of West Africa since 2007, Aura Energy today announced a 49% increase in reserves at its Tiris project in Mauritania to 62.8 million tonnes grading 243 parts per million uranium for 33.6 million pounds of uranium oxide.Aura wants to make a development decision next year to be in production in 2027.A scoping study for Tiris was completed in mid-2014, after which feasibility work began.
A site visit by a mining consulting firm and "other parties" was undertaken in October.Aura managing director Andrew Grove joined the company at the start of the year.Grove is ex-Macquarie, while his more recent jobs have included business development at Perseus and managing director of Senegal gold player Chesser Resources prior to it being taken-over last year.The long gestation of Tiris has been a function-of, among other factors, a struggling uranium price.
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