Aura Energy Secures AU$9 Million to Advance Tiris Uranium Project

Highlights:

• AU$9 Million Raised: Strong support from professional investors, with Sachem Cove Partners LLC contributing AU$6.5 million, securing a 5.1% stake in Aura Energy Limited (ASX: AEE).
• Tiris Uranium Project Development: Funds will accelerate early works beyond the Final Investment Decision (FID) expected in Q1 CY2025, targeting production by 2026/2027.
• Strategic Investment: Placement price set at AU$0.14 per share, representing a 9.7% discount to the last closing price, with shares settling on 20 December 2024.

Capital Raise to Fund Early Development Activities

Aura Energy Limited (ASX: AEE) has successfully raised AU$9 million through a placement to professional and sophisticated investors, marking a significant milestone for its Tiris Uranium Project in Mauritania. The capital raise, at AU$0.14 per share, saw strong participation from existing shareholders and welcomed new, high-quality investors.

Sachem Cove Partners LLC, a leading uranium investment group, contributed AU$6.5 million and is set to become a significant shareholder, holding approximately 5.1% of Aura Energy's issued stock. Petra Capital Pty Limited acted as the Sole Lead Manager and Bookrunner for the placement.

Accelerating the Tiris Uranium Project

The funds will be strategically allocated to advance development activities at the low-cost, high-value Tiris Uranium Project. Aura Energy aims to fund early works beyond the Final Investment Decision (FID), which is expected in Q1 CY2025, with production targeted for 2026/2027. Managing Director and CEO Andrew Grove expressed optimism about the raise, highlighting the company’s progress in de-risking the project and attracting credible investors.

“We are delighted to welcome Sachem Cove and other investors, whose support underscores the significant potential of the Tiris Uranium Project,” said Grove.

Key Placement Details

• Placement Shares: 64,285,714 fully paid ordinary shares
• Price: AU$0.14 per share, reflecting a 9.7% discount to the last closing price
• Settlement Date: 20 December 2024
• Admission on AIM: 20 December 2024

At the time of writing, Aura Energy’s successful capital raise positions the company to make substantial strides in the development of the Tiris Uranium Project, strengthening its path toward production and future growth.

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