Aura Energy takes 'definitive steps' towards production at Tiris

Exploration and development outfit Aura Energy told investors it had taken several "definitive steps" towards realising production at its Tiris uranium project.

Since being granted the exploration license back in December, Aura has taken these "important steps" in order to form strong building blocks to the completion of its near-term production candidate, Tiris.

However, Aura warned that work on a definitive feasibility study on Tiris was constrained during the period as a result of funding issues, but metallurgical test work and engineering design "continued at a strong pace".

"Overall, progress on the metallurgical test work program for Tiris is progressing well. While some delays have been experienced, the additional findings have significantly strengthened the Tiris process and have allowed early identification of issues that may cause complications during commissioning of the process," said Aura.

Elsewhere, Aura's drilling program on the Häggån vanadium project neared completion at the quarter end. The group will immediately release its vanadium scoping study "in the coming months".

As of 1120 BST, Aura shares had tumbled 15.38% to 0.55p.