TIDMAURA
RNS Number : 7496Q
Aura Energy Limited
30 June 2022
30 June 2022
PRE-INVESTMENT DECISION CAPEX AND OPEX ENGINEERING OPTIMISATION
COMMENCED FOR TIRIS
KEY POINTS:
-- Engineering consultants engaged for Phase 1 of Tiris Uranium
Project Front End Engineering Design Study ;
o DRA Global and subsidiary, SENET, as Lead Engineering
Integrator, with significant experience in West African uranium
project delivery; and
o Wallbridge Gilbert Aztec as specialist engineers for design
and delivery of processing circuit, in partnership with Adelaide
Control Engineering.
-- Phase 1 FEED Study focusing on engineering optimisation with
the aim of maintaining low CAPEX and OPEX with the addition of a
vanadium by-product recovery circuit.
-- Completion of Phase 1 of FEED Study anticipated in Q4 2022
and the more rigorous final phase (Phase 2) scheduled for Q1 2023,
in support of a final investment decision to fast-track initial
800,000 lb. per year uranium production at Tiris starting in
2024.
-- FEED Study operating concurrently with ongoing drilling to
update Mineral resources estimate forecast in Q4 2022 and cost
estimates for uranium production expansion to 3-5 million lbs. U(3)
O(8) per year early in Tiris mine-life.
For the full PDF version of the announcement with Figure 1 and
links included, please refer to:
http://www.rns-pdf.londonstockexchange.com/rns/7496Q_2-2022-6-30.pdf
Aura Energy Limited (ASX: AEE, AIM: AURA) ("Aura" or "the
Company") a company focussed on fast-tracking initial uranium
production at its 85%-owned Tiris Uranium Project in Mauritania
("Tiris" or "the Project"), is pleased to announce that engineering
consultants have been engaged to commence Phase 1 of the Tiris
Uranium Front End Engineering Design ("FEED") Study. The FEED Study
will focus on engineering optimisation, including addition of
vanadium pentoxide by-product recovery circuit, with the aim of
maintaining low capital and operating costs.
The first phase of the FEED study will be completed in Q4 2022
with the completion of all phases of the FEED Study targeted for Q1
2023, in support of Aura's final investment decision to progress to
initial uranium production at Tiris in 2024.
The Company has engaged DRA Global ("DRA") (ASX:DRA, JSE:DRA)
and its wholly-owned subsidiary, SENET, as Lead Engineering
Integrator, bringing industry leading experience in design,
construction and minerals operations throughout West Africa and
globally. DRA and its subsidiary's engineering team have a wealth
of experience in uranium processing and in the delivery of projects
particularly in West Africa, an ideal combination for development
of Tiris.
To support DRA, Aura has engaged Wallbridge Gilbert Aztec
("WGA") to apply their extensive experience to the design and
development of the Tiris uranium and vanadium processing circuits.
WGA will work closely with Adelaide Control Engineering (ACE) to
engineer, design and deliver the Tiris processing plant using
modular construction, allowing rapid, capital efficient site
construction of the initial fast-tracked 800,000 lb. U(3) O(8) per
annum processing plant and rapid and cost-effective expansion of
the plant to a target of 3 to 5 million lb. U(3) O(8) per annum
within first 2-3 years of the Project's mine-life.
Commenting on the appointment of engineering consultants Aura
Energy acting CEO, Dr Will Goodall, said: "We are very pleased to
have appointed and formed a fit-for-purpose engineering team for
the FEED Study, as this represents a significant milestone in
advancing Tiris to initial uranium production.
The work will focus on engineering optimisation opportunities
with the aim of maintaining or even reducing the already low Tiris
CAPEX of US$74.8m and will also seek to identify opportunities to
reduce the OPEX of the Project.
We look forward to working with DRA Global, and SENET, with its
significant experience in West African project delivery, as well as
WGA and ACE, which bring highly specialised engineering skills and
experience in modular plants to design and deliver the uranium and
vanadium processing circuits.
We look forward to delivering Phase 1 of the FEED Study in Q4
CY2022 and the full FEED Study in Q1 2023 in support of Aura's
final investment decision for Tiris"
Figure 1 shows the target schedule for the Tiris Stage 1 FEED
Study and supporting Stage 2 expansion study.
To view Figure 1 - Proposed delivery schedule for Tiris Uranium
Project, please click here:
http://www.rns-pdf.londonstockexchange.com/rns/7496Q_1-2022-6-30.pdf
About DRA Global
DRA Global Limited (ASX: DRA | JSE: DRA) (DRA or the Company) is
a multi-disciplinary consulting, engineering, project delivery and
operations management group predominantly focused on the mining and
minerals resources sector. DRA has an extensive global track
record, spanning more than three decades and more than 7,500
studies and projects as well as operations, maintenance and
optimisation solutions across a wide range of commodities.
DRA has expertise in mining, minerals and metals processing and
related non-process infrastructure including sustainability, water
and energy solutions for the mining industry. DRA delivers
advisory, engineering and project delivery services throughout the
capital project lifecycle from concept through to operational
readiness and commissioning as well as ongoing operations,
maintenance and shutdown services.
DRA, headquartered in Perth, Australia, services its global
customer base through 17 offices across Asia-Pacific, North and
South America, Europe, Middle East and Africa.
About SENET
As a subsidiary of DRA Global, SENET is a leading African
Engineering, Procurement, Construction Management (EPCM) minerals
processing and project delivery firm located in Africa. SENET's
track record and expertise, spanning over three decades, comprises
the design and implementation of hydrometallurgical and heap leach
plants.
As a specialist in executing projects in remote locations,
SENET's expertise covers both Lump-Sum Turnkey EPC (Engineering,
Procurement and Construction) and EPCM project delivery models.
About Wallbridge Gilbert Aztec
Wallbridge Gilbert Aztec is a multi-disciplinary, award-winning
engineering and project management team with an ethos based on
developing long-term collaborative client relationships, and
delivering innovative, buildable and economical solutions.
With over 40 years' experience across diverse sectors, WGA
offers a wide range of consulting services including structural,
civil, maritime, mechanical, geotechnical, process, heavy lifting,
temporary works, project management, electrical, pressure vessels,
hydrogeology and demolition.
WGA adds real value to its clients by providing streamlined
access to these services from its locations in Adelaide, Brisbane,
Darwin, Melbourne, Perth, Whyalla, Newcastle and New Zealand
locations. Supported by a team of over 400 staff, WGA is wholly
Australian-owned, with all operations carried out in accordance
with quality assurance , Occupational Health and Safety and
Environmental Management systems, which are third party accredited
and audited by SAI Global.
About Adelaide Control Engineering
Adelaide Control Engineering (ACE) is a multidisciplinary
consultancy company having a well-established reputation for
excellence in modular engineering design, project management, and
construction.
ACE was established in 1999 to undertake work in the uranium
industry. Initially, ACE designed, installed, and commissioned the
drying and drum packing facilities for a South Australian uranium
mine. Since then, ACE has developed and refined their patented
modular uranium process plant and provided this equipment and
engineering services to Clients in all of the major
uranium-producing countries, including Australia, Africa, Canada,
Europe, USA and Kazakhstan.
This ASX Release as authorised by the Aura Energy Board of
Directors.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside information is now
considered to be in the public domain.
For Further Information, please contact:
Will Goodall Jane Morgan
Acting CEO JMM
Aura Energy Limited Investor & Media Relations
info@auraenergy.com.au info@janemorganmanagement.com.au
+61 405 555 618
SP Angel Corporate Finance WH Ireland Limited
LLP (Joint Broker)
(Nominated Advisor and Joint Jessica Cave
Broker) Andrew de Andrade
David Hignell +44 (0) 207 220 1666
Kasia Brzozowska
+44 (0) 203 470 0470
----------------------------------
About Aura Energy (ASX:AEE, AIM:AURA)
Aura Energy is an Australian-based minerals company with
major uranium and polymetallic projects with large resources
in Africa and Europe. The Company is principally focused
on initial uranium production at its Tiris Uranium Project,
an evolving major greenfields uranium discovery in Mauritania,
with Aura announcing a Resource Upgrade in August 2021,
bringing the total JORC Resource to 56 Mlbs (at a 100 ppm
U(3) O(8) lower cut-off grade).
Aura also completed a 2021 capital estimate update for
the Tiris Definitive Feasibility Study, to reflect current
global pricing, reconfirming Tiris as one of the lowest
capex, lowest operating cost uranium projects slated for
development.
In October 2021, the Company entered a US$10m Offtake Financing
Agreement with Curzon, which includes an additional up
to US$10m facility, bringing the maximum available under
the agreement to US$20m.
In 2022, Aura will continue to transition from an advanced
uranium explorer to uranium producer, to capitalise on
the growing appetite for nuclear power as a critical, baseload,
near-zero-carbon energy source to help drive the global
shift towards decarbonising energy generation.
@AuraEnergyAEE
https://www.linkedin.com/company/aura-energy-limited
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Notes to Project Description
The Company confirms that the material assumptions underpinning
the Tiris Uranium Production Target and the associated financial
information derived from the Tiris production target as outlined in
the Aura Energy release dated 18 August 2021 for the Tiris Uranium
Project Definitive Feasibility Study continue to apply and have not
materially changed.
The Tiris Uranium Project Resource was released on 27 August
2021 "Resource Upgrade of 10% - Tiris Uranium Project". The Company
confirms that it is not aware of any new information or data that
materially affects the information included in the relevant market
announcement and that all material assumptions and technical
parameters underpinning the estimates in the relevant market
announcements continue to apply and have not materially
changed.
In respect to Resource statements there is a low level of
geological confidence associated with inferred mineral resource and
there is no certainty that further exploration work will result in
the determination of indicated measured resource or that the
production target will be realised.
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