Acuerdo de compra con Curzon Uranium Limited
16 de abril de 2024
Offtake restructure delivers significant value to the Tiris Uranium Project |
Aura energía limitada (ASX: AEE, OBJETIVO: AURA) ("Aura" o la "Empresa") and Curzon Uranium Ltd. ("Curzon") have agreed to a restructure of the historical uranium offtake agreement[ 1 ], materially increasing the price receivable for planned uranium production and releasing significant value for the Tiris Uranium Project.
PUNTOS CLAVE:
· Average fixed price contract price increases 70% to US$74.75/lb U3O8 from US$44.09/lb U3O8 subject to Final Investment Decision by 31 March 2025
· Total contracted volumes (fixed and variable priced contracts) reduce from 2.6Mlbs to 2.1Mlbs over same 7-year term
· US$41M of additional revenue delivered to the Tiris Project cash flows at a uranium price of US$80/lb U3O8
· Proyecto NPV8 increases US$22M to US$388M and IRR improves 2% to 36% compared to Front End Engineering Design ("FEED") study economics[ 2 ] delivered in March 2024
· Restructured offtake to deliver 150,000lbs U3O8 per annum under fixed price terms averaging US$74.75/lb U3O8 and 150,000lbs U3O8 per annum at spot less 4% discount over 7 years
· Restructuring fee of US$3.5M to be paid to Curzon either in cash or in Aura shares priced at A$0.18 per share
· Curzon to also take a US$3.5M placement of Aura shares at A$0.18 per share
· Shares subject to escrow arrangements
· The placement and settlement will take place at the conclusion of final documentation and subject to the Company's placement capacity being refreshed at the upcoming shareholders' meeting
Andrew Grove Aura's MD and CEO commented:
"We are very pleased with the cooperation and consideration received from Curzon - a leading global trader in uranium - on this restructured offtake agreement and welcome Curzon as an important partner and Aura shareholder for the development of the Tiris Uranium Project which will have significant mutual benefits for both parties."
"The restructured offtake agreement releases significant value in the Project and is another important step in the development of the Tiris Uranium Project."
Detalles
Aura is pleased to advise on developments and activities relating to the Tiris Uranium Project in Mauritania aimed at enhancing value, achieving final investment decision in 2024 and ultimately delivering a uranium mine at Tiris for the benefit of all stakeholders.
Aura and Curzon have signed an agreement replacing the existing contractual arrangements between Aura and a subsidiary of Curzon, with a new take or pay offtake contract, with pricing terms detailed in Appendix 1. The new agreement provides Aura, and its subsidiary Tiris Ressources SA, with materially higher realised uranium prices that will enhance shareholder returns and third-party financing opportunities, while giving Curzon certainty about its supply arrangements.
The new contract will provide for a fixed volume of 300,000lbs per annum of uranium concentrate to be delivered over seven years, totalling 2.1Mlbs U3O8.
150,000lbs of the annual volume will be priced based on the prevailing uranium spot price at time of delivery ("Market Price") less a discount, and 150,000lbs of the annual volume will be priced on a fixed basis ("Fixed Price") to be determined as follows:
• Case A: If an investment decision on the Tiris project is made by 31st March 2025, Curzon will pay an average Fixed Price of US$74.75/lb U3O8, Market Price subject to a 4% discount
• Case B: If an investment decision is made by 30th September 2025, Curzon will pay an average Fixed Price of US$72.25/lb U3O8, Market Price subject to a 4% discount
• Case C: If an investment decision is made between 1st Octubre 2025 y 15th August 2030, Curzon will pay an average Fixed Price of US$65.25/lb U3O8, with a further US$1.25/lb U3O8 decline in Fixed Price for each year of delay in the investment decision post 2025, Market Price subject to a 5% discount
• Case D: If an investment decision is made after 15th August 2030, there will be no offtake agreement and Curzon will be paid a 1% royalty on net revenues up to total value of US$30M
A restructuring fee of US$3.5M will be paid to Curzon either in cash or in Company's shares, at Curzon's election, priced at A$0.18 per Aura share. These shares will be subject to escrow until first production from the Project.
Curzon has also agreed to an equity placement in Aura of US$3.5M priced at A$0.18 per Aura share ("Curzon Placement"). 50% of these shares will be held in escrow until the earlier of Final Investment Decision ("FID") for the Tiris Project or 30th 2025 junio.
The Curzon Placement and settlement of the first 50% of shares will take place at the conclusion of final documentation and subject to the Company's placement capacity being refreshed at the upcoming Aura shareholders' meeting.
These arrangements cancel and replace all previous agreements between Aura and the Curzon entities[ 3 ].
Updating the FEED[ 4 ] economics with the new offtake pricing results in a significant increase in revenue of US$41M and increases the NPV8 to US$388M from US$366M. IRR also increases by 2% to 36%, as set out in Table 1. All other inputs into the FEED economics remain unchanged.
Unidades | FEED | FEED | |
Caso base | New Contract Pricing | ||
Precio del uranio | US$/lbs U3O8 | $80 | $80 |
Producción anual promedio | Mlbs pa U3O8 | 2 | 2 |
VAN después de impuestos8 | Millones de dólares | 366 | 388 |
TIR después de impuestos | % | 34% | 36% |
Costos de mantenimiento totales promedio | US$/lbs U3O8 | 34.5 | 34.5 |
Life of Mine Revenue | Millones de dólares | 2,354 | 2,395 |
Vida inicial mía | Años | 17 | 17 |
Gasto de capital | Millones de dólares | 230 | 230 |
Periodo de recuperación | Años | 2.5 | 2.5 |
Table 1: Comparison between FEED economics as published 29 March 2024 and impact of new offtake pricing.
EXTREMOS
La Junta Directiva de Aura Energy Ltd ha aprobado este anuncio.
Este Anuncio contiene información privilegiada a los efectos de la versión del Reino Unido de la regulación de abuso de mercado (UE No. 596/2014), ya que forma parte de la legislación nacional del Reino Unido en virtud de la Ley de la Unión Europea (Retirada) de 2018 ("UK MAR" ).
Para más información, por favor póngase en contacto con:
Andrés Arboleda Director Gerente y CEO Aura energía limitada +61 414 011 383
| Paul Ryan mañana sodali Relaciones con inversores y medios +61 409 296 511
| SP Ángel Finanzas Corporativas LLP Asesor nominado y Broker david hignell Kasia Brzozówska otorgar barker +44 203 470 0470 |
Sobre Aura Energy (ASX: AEE, AIM: AURA)
Aura Energy es una empresa minera con sede en Australia con importantes proyectos de uranio y polimetálicos en África y Europa.
La Compañía se centra en el desarrollo de una mina de uranio en el Proyecto de Uranio Tiris, un importante descubrimiento de uranio totalmente nuevo en Mauritania. El estudio FEED de febrero de 2024 demostró que Tiris es una unidad de 2 millones de libras de bajo costo a corto plazo.3O8 pa near term uranium mine with a 17-year mine life with excellent economics and optionality to expand to accommodate future resource growth.
Aura planea pasar de ser un explorador de uranio a un productor de uranio para capitalizar la creciente demanda de energía nuclear a medida que el mundo avanza hacia un sector energético descarbonizado.
Más allá del Proyecto Tiris, Aura posee el 100% del Proyecto Häggån en Suecia. Häggån contiene recursos de vanadio, sulfato de potasa ("SOP") y uranio a escala mundial de 2.5 millones de toneladas. Utilizando solo el 3% del recurso, un estudio de alcance de 2023 describió una vida útil de la mina de 27 años basada en la extracción de 3.5 Mtpa.
Descargo de responsabilidad con respecto a las declaraciones a futuro
Este anuncio de ASX (Anuncio) contiene varias declaraciones prospectivas. Todas las declaraciones que no sean declaraciones de hechos históricos son declaraciones prospectivas. Las declaraciones a futuro están inherentemente sujetas a incertidumbres en el sentido de que pueden verse afectadas por una variedad de riesgos, variables y factores conocidos y desconocidos que podrían causar que los valores o resultados reales, el desempeño o los logros difieran materialmente de las expectativas descritas en dichas declaraciones a futuro. declaraciones. La Compañía no ofrece ninguna seguridad ni garantía de que se lograrán los resultados, el desempeño o los logros previstos, expresados o implícitos en esas declaraciones prospectivas.
Appendix 1 - Annual pricing terms
Duración del contrato: 7 años
Contract volume: 150,000 lbs pa of U3O8 at Fixed Price and 150,000 lbs pa of U3O8 at Market Price less a Discount.
Case A - FID no later than 31/03/2025
Delivery start year: 2026 or 2027 at Aura's option to nominate no later than 7 days after the FID
Precios fijos:
Primer ano | US $ 71.00 / libra U3O8 |
Primer ano | US $ 72.25 / libra U3O8 |
Primer ano | US $ 73.50 / libra U3O8 |
Primer ano | US $ 74.75 / libra U3O8 |
Primer ano | US $ 76.00 / libra U3O8 |
Primer ano | US $ 77.25 / libra U3O8 |
Primer ano | US $ 78.50 / libra U3O8 |
Discount on Market Price: 4%
Case B - FID no later than 31/09/2025
Delivery start year: 2027, 2028 or 2029 at Aura's option to nominate no later than 7 days after FID
Case B Fixed Price: same as Case A minus US$2.50/lb U3O8 in each respective year
Discount on Market Price: 4%
Case C - FID no later than 15/08/2030
Delivery start year: 2028, 2029, 2030, 2031, 2032 or 2033 at Aura's option to nominate no later than 7 days after FID
Case C Fixed Price: same as Case B minus US$7.00/lb U3O8 in each respective year, plus an additional discount of US$1.25/ lb U3O8 for every additional year in which the FID is taken after the end of 2025
Discount on Market Price: 5%
Case D - No FID has been taken by 15/08/2030
Realeza: a royalty of 1% of net revenues from Tiris Project up to a total amount of US$30M
[ 1 ] ASX Releases: "US$10m Offtake Financing Agreement for Tiris Uranium Project" 7 October 2021 and "Aura Concludes Offtake Agreement" 29 January 2019
[ 2 ] ASX Release: "FEED study confirms excellent economics for the Tiris Uranium Project" 28 February 2024
[ 3 ] ASX Releases: "US$10m Offtake Financing Agreement for Tiris Uranium Project" 7 October 2021 and "Aura Concludes Offtake Agreement" 29 January 2019
[ 4 ] ASX Release: "FEED study confirms excellent economics for the Tiris Uranium Project" 28 February 2024
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