Share price discussion, page-417

From the latest Half Yearly Report -

"During the half-year, the Company entered into an Option Agreement with Eagle Energy Metals (Eagle) for the sale of its Aurora Uranium Project (AUP) in southeast Oregon, USA. Under the terms, Aurora maintains significant exposure to the project’s future upside through a 40% shareholding in Eagle, along with potential milestone payments and a 1% Net Smelter Royalty (NSR). The transaction, which received shareholder approval on 16 January 2025, enables the AUP to be progressed by a US-based management team with strong expertise in project development, permitting and access to US energy incentives."

Under the terms:
• Aurora will receive US$16 million (A$24.7 million) in Eagle shares upon listing.
• Further milestone payments of up to US$10 million (A$15.4 million) in shares, based on:
o US$5 million (A$7.7 million) upon upgrading the resource to SK1300 Measured & Indicated.
o US$5 million (A$7.7 million) upon completing a positive Pre-Feasibility Study.
• An Option Fee of US$300,000 (A$460,000) for an initial six-month period, with extensions up to 18 months for a total ofUS$1 million (A$1.5 million).
• Eagle commits US$500,000 (A$770,000) in funding for ongoing project activities during the option period.
• Aurora retains a 1% NSR royalty, with a buyback right for US$1-2 million (A$1.5-3.1 million).
• Aurora will hold approximately 40% equity in the newly listed entity, ensuring ongoing exposure to the AUP’s development and potential value uplift. Share holder approval for the transaction was received on 16 January 2025, and the first option payment of US$300,000(A$460,000) was subsequently received by Aurora. The exercise of the option by Eagle remains contingent on Eagle's successful listing.