Tiris Uranium Project Benefits from Restructured Offtake Agreement

Aura Energy (ASX: AEE) and Curzon Uranium Ltd. have revamped their existing offtake agreement, significantly enhancing the financial outlook of the Tiris Uranium Project. The revised contract boosts the average fixed price of uranium to AU$74.75 per pound, a substantial increase from the previous AU$44.09 per pound, contingent upon a final investment decision by March 31, 2025.

This adjustment reduces the total contracted uranium volumes but increases the project's revenue by AU$41 million, assuming a market price of $80 per pound. Consequently, the project's net present value (NPV) surges to AU$388 million from AU$366 million, and the internal rate of return (IRR) improves by 2%, now standing at 36%. Additionally, the agreement includes a restructuring fee of AU$3.5 million and a similar equity placement by Curzon in Aura, further cementing their partnership and financial involvement in the project.

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