1AE provides update on Aurora Uranium Project, USA
Project Name: Aurora Uranium Project
Project Location: USA
Project Stage: Advanced Exploration
ProjectBank Summary:
Aurora Energy Metals Limited (ASX: 1AE) announces an update on the Aurora Uranium Project (AUP) following the release of the Maiden Scoping Study in mid-May 2024. The company has appointed an Oregon-based Project Manager to oversee in-country activities, focusing on the permitting process and technical operations. This move aligns with Aurora's strategy to enhance local operational capabilities and regulatory compliance. Additionally, the company is finalizing plans for further metallurgical testwork aimed at improving uranium recovery rates beyond the current 69% outlined in the Scoping Study. This testwork is expected to culminate in an Optimised Scoping Study by late 2024, which will inform the Pre-Feasibility Study (PFS) scheduled to commence in early 2025. The recent enactment of the Prohibiting Russian Uranium Imports Act underscores the importance of domestic uranium production, positioning the AUP to play a crucial role in meeting the USA's uranium demand.
Aurora Energy Metals Highlights:
Appointment of an Oregon-based Project Manager to guide permitting and technical operations.
Plans for further metallurgical testwork aimed at increasing uranium recovery rates.
Optimised Scoping Study expected by late 2024, leading into a PFS in early 2025.
Improved outlook for US uranium market with the signing of the Prohibiting Russian Uranium Imports Act.
AUP is the USA's largest measured and indicated uranium deposit with 50.6 Mlbs U3O8.
MD/CEO Statement:
Peter Lester, Chairman, commented: "Given the current status of the Project, the Board is taking appropriate time to assess options for developing a North American management team to be more closely aligned with the US market during the Company’s next phase of development."
