Aura Energy produces yellowcake from Tiris samples

Aura Energy announced the successful production of yellowcake product on Tuesday, from beneficiation pilot plant concentrate samples from the Tiris uranium project in Mauritania.

The AIM-traded firm announced the samples used in the programme on 23 June.

It described the production of yellowcake in the form of uranium oxide concentrate from the samples as a “key milestone”, as it moved towards near-term phase-one uranium production.

The board said the result successfully completed the uranium recovery test-work programme at the Australian Nuclear Science and Technology Organisation (ANSTO) laboratory, and indicated that Tiris production could be sold in the international market as a high-standard product without penalties.

“The successful production of yellowcake from material upgraded in the pilot plant is a significant step for Aura Energy,” said managing director Dave Woodall.

“It opens the door to commercial discussions with nuclear utilities, demonstrates the simple processing parameters required for uranium oxide production at Tiris and provides a strong technical basis for moving the project forward.

“This will allow us to focus on operating efficiencies as we progress to a final investment decision.”

At 1558 GMT, shares in Aura Energy were down 3.27% at 14.51p.

Reporting by Josh White for Sharecast.com.