Kristie Batten: Pivotal weeks ahead for uranium hopeful Aura Energy
“Some of the potential investors have been onsite so we’re hoping by the end of December, we have term sheets from all these parties and we’ve got a clear pathway through to development,” Grove said.
“We’re talking a US$250 million package. We think the debt will support US$150 million so potentially with the strategics, we could fill that whole gap or some of the strategics will be looking at maybe access to the whole project. We’ll wait and see.”
The company is well-funded with $16 million in cash, which will see it through to FID.
Aura recently successfully renegotiated a historical offtake agreement with Curzon Uranium.
“Essentially, our average fixed contract price pursuant to the Curzon offtake arrangements has increased 70% to US$74.75 per pound of uranium, up from US$44.09/lb – subject to FID by early 2025, which we’re confident of achieving,” Mitchell said.
This’ll do me for Christmas Phil.
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