Aura Energy Limited Tiris Mining Lease Application Submitted
24 May 2017 - 4:00PM
UK Regulatory
TIDMAURA
The original release includes pictures from the Tiris Project Community
Consultation Days
To view the original complete with images please see the Aura Energy website:
http://www.auraenergy.com.au/announcements-2017.html
24th May 2017
AURA ENERGY LIMITED
("Aura" or the "Company")
KEY TIRIS URANIUM PROJECT MILESTONE ACHIEVED
MINING LEASE APPLICATION FOR TIRIS SUBMITTED
ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT (ESIA) COMPLETED AS PART OF THIS
PROCESS
STRONG GOVERNMENT SUPPORT INCLUDING KEY MINISTRIES OF MINING AND ENVIRONMENT
Aura Energy Limited (ASX:AEE, AIM:AURA) is pleased to advise that following a
broad program of evaluation and study over the past 8 months a key milestone
for the development and construction of the Tiris Project has been achieved
with the submission of the Tiris Uranium Project Mining Lease Application on
the target schedule to the Mauritanian Government.
As part of the application Aura Energy completed an exhaustive Environmental
and Social Impact Assessment (ESIA) covering all aspect of the project
including community consultation in the regions close to the project location.
Commenting on the Tiris Mining Lease Application, Peter Reeve, Executive
Chairman said: "This milestone for Aura's Tiris Uranium Project will now bring
into clear focus that Tiris is now in that next important group of uranium
projects that, subject to financing, will be developed. Due to its low capital
cost, the implementation of Tiris is very achievable to meet the next expected
cycle of rising uranium prices."
The Mining Lease Application will now be reviewed by various departments within
the Mauritanian Mines Department and Environment Department over a period of 6
months.
The application documentation included the final agreed term sheet for the
Tiris Shareholders Agreement, which covers the 10% Government interest in the
Tiris Uranium Project and was successfully negotiated over the past 3 weeks.
The completion of the Definitive Feasibility Study (DFS) for the Tiris Uranium
Project is targeted for the end of 2017 however as previously advised, Aura
envisages some elements of the Tiris DFS will still be outstanding at this
point with full completion expected in early in 2018. This is not expected to
impact project implementation and financing, as a number of parallel activities
will be conducted near the end of the Tiris DFS.
The critical areas remaining for the Tiris DFS are;
* The Tiris Project Water Study
* Metallurgical test work
* Tiris Mineral Resource upgrade
* Mining Study
* Detailed Engineering included package cost estimates
* Infrastructure Study
Aura continues to plan for all requirements for the implementation of the Tiris
Uranium Project during 2018 including construction, potential product offtake
and financing review. The various departments within the Mauritanian
Government, including the Mines and Environment departments remain very
supportive of Aura's project initiative and are activity assisting in the
projects implementation.
- ENDS -
For further information contact:
Aura Energy Limited Telephone: +61 (3) 9516 6500
Peter Reeve (Executive Chairman and Email: info@auraenergy.com.au
CEO)
WH Ireland Limited Telephone: +44 (0) 207 220 1666
Adrian Hadden
James Bavister
Yellow Jersey PR Limited Telephone:
Felicity Winkles +44 (0) 7748 843 871
Joe Burgess +44 (0) 7769 325 254
END
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