INTERVIEW
“ Kazakhstan ’ s recent decision to scale back its output by to tighten global supply has seen prices creep up ”
– Peter Reeve , Aura ’ s Executive Chairman
10 %
more support for nuclear power than the Obama administration , which gave a higher priority to wind and solar power . While America may once more make moves to become self-sufficient in uranium , as of today , it still imports over 90 % of the uranium it uses in its nuclear plants .
Against the backdrop of this increasing market confidence in uranium , Aura listed on AIM ( Alternative Investment Market ) earlier this year and raised $ 3.93mn . “ It ’ s lonely out here in Australia ,” jokes Reeve . “ That listing helps us a hell of a lot with our profile abroad and our investor base .” He believes it ’ s Aura ’ s low capital strategy to achieve initial production that will help them overcome the challenges of the development phase and continue to attract investment . “ Investors can see we ’ re not just waiting for the uranium price to recover because we have other base metal strategies to provide good returns along the way and assist in funding our uranium developments .”
The Tiris mine was originally conceived to have up to $ 130mn in capital but Reeve re-cut the project in size and scope down to $ 45mn . “ For a company of our development size people thought that was plausible ,” he explains . “ We got our cash cost down to $ 30 per pound - which on a stock
12 October 2017