Aura Energy Ltd - developing 85%-owned Tiris uranium project in Mauritania - David Woodall resigns as managing director and chief executive officer. Appoints in his place to both roles Andrew Grove, a mining and finance executive with 30 years experience who has been serving as a strategic consultant to the board. Both are with immediate effect. Among other roles, Grove worked in mining finance and risk management at Macquarie Bank.
Looking ahead, Aura notes the spot uranium price was quoted over USD100 per pound as of Monday, a 90% rise over the course of 2023.
"The strength in uranium demand is expected to continue, underpinned by a fundamental global shift towards nuclear power as a low-carbon and reliable energy source," the company says. "Aura Energy is well positioned to benefit from these favourable macro trends with near-term uranium production at Tiris and significant potential growth in uranium resources."
Current stock price: 13.28 pence, up 6.2% in London on Tuesday
12-month change: down 28%
By Tom Waite, Alliance News editor
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Aura Egy (AURA)