Aura Energy posts wider annual loss on higher costs, asset impairments

(Alliance News) - Aura Energy Ltd on Friday reported a widened loss for its latest financial year, citing higher costs, share-based payments and asset impairments, while it continues to advance its uranium projects in Mauritania and Sweden.

The Australia-based uranium and battery metals developer said its net loss for the year ended June 30 widened to USD15.3 million from USD6.6 million a year earlier.

This included USD6.3 million in share-based payments, USD4.8 million in administration costs and USD2.6 million in asset impairments.

Cash at year-end stood at USD11.7 million, down from USD16.5 million. Capitalised exploration and evaluation assets rose to USD50.5 million from USD41.9 million.

Aura said financing discussions to develop the Tiris Uranium project in Mauritania are well advanced and expected to conclude by the end of 2025, targeting first production in 2027. It is also seeking a 36-month permit extension with local authorities and reported "collaborative discussions" with the Ministry.

In Sweden, an exploitation permit application for the Haggan polymetallic project remains under review.

Aura recently signed a long-term offtake agreement with a major US nuclear utility for uranium oxide concentrate from Tiris, alongside a master spot sales agreement with a leading trading group.

Shares in Aura Energy were down 1.3% at 11.35 pence in London on Friday morning.

By Eva Castanedo, Alliance News reporter

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