|
Aura Energy Ltd's shares were lifted on Thursday as the Australia-based minerals company shared positive test results from its Mauritania uranium project.
The polymetallic and uranium-focus company reported strong progress towards fast-tracking initial uranium production at its 85%-owned Tiris uranium project.
Pilot-scale confirmatory results managed to achieve an average of 550% increase in uranium grade, with preliminary bulk leaching tests that confirmed rapid uranium extract at over 95%.
Shares in Aura were up 5.1% to 9.20 pence each in London on Thursday morning.
‘The substantially positive upgradability of the Tiris uranium mineralisation is a key differentiator between Tiris and other uranium projects with comparable feed grades, resulting in a smaller, more efficient leach circuit with generally lower capital and operating costs,’ the firm explained.
The positive results continue to lead the firm towards considering a final investment decision for Tiris in the first quarter of next year, as it hopes to expand triuranium octoxide production to 3.0 million to 5.0 million pounds.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
