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LONDON (Alliance News) - Shares in Aura Energy Ltd spiked on Thursday as the company said it produced its first samples of yellowcake product, a type of uranium concentrate powder.
Shares in the minerals company were trading up 55% at 0.78 pence each following the news.
The company said it produced the samples as part of the Tiris Uranium project definite feasibility study. Moreover, the yellowcake produced is regarded as "saleable", with impurity levels within the acceptable limits relative to the American Society for Testing & Materials standards.
"The production of yellowcake is a true milestone for Aura Energy's push to achieve producer status. To achieve yellowcake production from our site in the Sahara Desert has required commitment and stamina from our dedicated technical team," Chair Peter Reeve said.
