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LONDON (Alliance News) - Aura Energy Ltd said it has secured AUD2 million in financing from Lind Partners LLC.
The funding, in the form of a convertible note, will provide funds for the completion of the final elements of the Tiris definitive feasibility study, the completion of the Haggan Scoping Study, and for general corporate purposes.
Aura Energy Chair Peter Reeve said: "Aura's business is currently in its strongest position since inception, with our three distinct business areas of uranium, vanadium and gold, base and battery metals exploration each in an excellent position."
Meanwhile, the Tiris definitive feasibility study continues to progress but at a slower pace than expected due to a materials handling issue.
"Whilst this caused a delay in the definitive feasibility study, Aura is pleased the technical team discovered and resolved this issue within the study phase," the company said.
Nevertheless, Aura said the results from Tiris are, at this stage, "very encouraging".
Shares in Aura closed down 14% at 0.56 pence on Tuesday.