This latest release from Aurora does not give enough information as to WHY the SLOW rate of exploration study given current US demand for Uranium.
"Aurora Chairman, Peter Lester, said: “Given the current status of the Project, the Board is taking
appropriate time to assess options for developing a North American management team to be more
closely aligned with the US market during the Company’s next phase of development.”
A key area identified in the Scoping Study on the Project was the potential for improvements in uranium
recovery being attained, with several opportunities for further testwork already identified. Aurora is
finalising a programme to be completed over the coming months, with the aim of demonstrating a
material improvement in the overall recovery rate from the Scoping Study level of 69%. (See ASX Release
15 May 2024)"
What current state of the project? Why so long to get a management team together, they have known all along that a US management team would be required? If further testing has been identified, why hasn't it been started? Why is it going to take several months to get this done.
"The completion of the testwork program is expected to deliver an Optimised Scoping Study, incorporating
revised recovery rates, by late 2024. This further study will refine the requirements for a Pre-Feasibility
Study (PFS), targeted for commencement in early 2025."
An 'Optimised' scoping study by the end of the year? Pre-FS 'around' early 2025? Why no new MD? it looks like the board has been sitting on their hands on this one. IMO.
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