Aurora Energy Metals (1AE) Q1 2025 TU earnings summary

Executive summary

• Advanced metallurgical test work at ALS Metallurgy to optimise uranium recovery for the Aurora Uranium Project (AUP), aiming to enhance project economics and support a Pre-Feasibility Study in 2025.

• Continued assessment of North American management and strategic options to align with the US market for the next phase of AUP development.

Financial highlights

• Cash position at 30 September 2024 was $1.2 million, with no debt.

• Quarterly cash outflows included $220,000 for exploration and evaluation, $122,000 for administration and corporate costs, and $90,000 for staff costs.

• Net cash used in operating activities for the quarter was $424,000.

• No cash flows from investing or financing activities during the quarter.

• Estimated 2.8 quarters of funding available based on current cash and outgoings.

Outlook and guidance

• Finalisation of the metallurgical program and inputs for an Optimised Scoping Study expected by December 2024.

• Pre-Feasibility Study for the AUP scheduled to commence in 2025.