(Alliance News) - Aura Energy Ltd on Tuesday celebrated a key milestone in progressing its uranium project in Mauritania, after successfully producing yellowcake product from samples at the site.
Aura Energy is an Australian-based minerals company, focused on uranium and polymetallic projects in Africa and Europe. Its flagship licence is the Tiris Project in Mauritania, where it is currently focused on uranium production.
The company on Tuesday said it had successfully produced yellowcake product from beneficiation pilot plant concentrate samples at the project.
The result successfully completes the uranium recovery test work program at the ANSTO laboratory, it said.
Aura Energy argued that, following the finding, Tiris production could be sold in the international market as a high-standard product without penalties.
The production of yellowcake in the form of uranium oxide concentrate from the samples is a key milestone as the company moves towards near-term Phase 1 uranium production.
"The successful production of yellowcake from material upgraded in the pilot plant is a significant step for Aura Energy," said Managing Director Dave Woodall.
"It opens the door to commercial discussions with nuclear utilities, demonstrates the simple processing parameters required for uranium oxide production at Tiris and provides a strong technical basis for moving the project forward. This will allow us to focus on operating efficiencies as we progress to a final investment decision."
Aura Energy shares were trading 3.3% lower at 14.51 pence each in London on Tuesday afternoon.
By Holly Beveridge; Alliance News reporter
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Aura Egy (AURA)