Aurora Energy Metals Limited · ASX:1AE
Aurora Energy Metals — Corporate Update (April 2024)
21 slides from Aurora Energy Metals's corporate update, April 2024
Slide 1: Advancing the USA's largest measured uranium deposit
Advancing the USA’s largest measured uranium deposit Corporate Presentation Scoping Study Interim Update April 2024
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by and issued by Aurora Energy Metals Limited, to assist it in Information in this presentation relating to Exploration results and Mineral Resources is based on informing interested parties about the Company and its progress. It should not be considere
Slide 3: Corporate Snapshot
Corporate Snapshot Strong Board experience in uranium and development Capital Structure (on an undiluted basis, as at 29 March 2024) 1AE 179m 11% ASX Code Shares on Issue (inc. 19.9m escrowed) 11% A$18m 30m 48% 10% Market Cap Options (21.2m @ $0.15, 6m @ $0.20, (at A$0.10 per share) 2.85m @ $0.30) 2
Slide 4: Investment Fundamentals
Investment Fundamentals Aurora Uranium Project (AUP) now largely technically de-risked • Large, well-defined, mineable 50Mlb Uranium resource 81% Measured & Indicated: high-grade core of 19.2Mlb @ 485ppm • Clear pathway to development in Tier 1 jurisdiction with no known impediments to permitting an
Slide 5: Scoping Study Interim Update
Scoping Study Interim Update Completed Scoping Study on track for early Q2, 2024 Mining studies completed; 11-year life of mine targeting 2 Mtpa ROM at low average strip ratio (2.1:1) Mine plan with progressive backfilling into open pit void o Minimising project footprint and environmental impac
Slide 6: Aurora Uranium Project (AUP)
Aurora Uranium Project (AUP) Several competitive advantages • Historical mining district – excellent infrastructure • 1970’s discovery, extensively drilled and studied • Large, well-defined resource (50.6 Mlb U3O8(1)) o 81% Measured and Indicated • Focused on shallow, high-grade core o 18Mt @ 485 pp
Slide 7: Why is US domestic Uranium production so important?
Why is US domestic Uranium production so important? Domestic production only 0.5% of demand • The US has the world’s largest nuclear power fleet US domestic production in 2022 was 194,000 lbs. and is the world’s largest uranium consumer. Owners and operators of U.S. civilian nuclear power reactors p
Slide 8: One of the largest, mineable US Uranium Projects
One of the largest, mineable US Uranium Projects Well-defined deposit in a Uranium-hungry, tier 1 jurisdiction Source: Company Research ASX 23 November 2022: 34% Increase in Total Uranium Resource to 50.6 Mlbs Maiden Measured Resource Declared at Aurora Uranium Deposit. AURORAENERGYMETALS.COM 8
Slide 9: Concluding Remarks
Concluding Remarks US is a Tier 1 Asset Infrastructure Undervalued Jurisdiction Quality The world’s largest Largest mineable Will enable 50Mlb U3O8 uranium consumer, Measured & accelerated resource in Tier 1 with aggressive Indicated development, with jurisdiction on a plans to re-establish uranium
Slide 10: Appendices
Appendices Appendices AURORAENERGYMETALS.COM 10
Slide 11: High Quality Uranium Resource
High Quality Uranium Resource Well understood, well defined Mineral Resource; over 600 holes drilled, still with some exploration upside1 High Grade Core: 18Mt @ 485 ppm U3O8 for 19.2 Mlb U3O81 1. ASX 23 November 2022 – 34% Increase in Total Uranium Resource to 50.6 Mlbs Maiden Measured Resource Dec
Slide 12: Simple Mining – Low Geological Risk
Simple Mining – Low Geological Risk Global resource ~82% Measured and Indicated, High grade core ~99.5% Measured and Indicated1 1. ASX 23 November 2022 – 34% Increase in Total Uranium Resource to 50.6 Mlbs Maiden Measured Resource Declared at Aurora Uranium Deposit. AURORAENERGYMETALS.COM 12
Slide 13: Mining Study and Permitting
Mining Study and Permitting orelogyTM has completed a scoping-level mining study Mine Plan • Targeting 2 Mtpa ROM at a low average strip ratio of 2.1:1 over 11 years • 3 phases of mining to facilitate progressive backfilling waste into mined open pit o minimise project footprint and environmental im
Slide 14: Transport and Infrastructure
Transport and Infrastructure Mine and processing facility favourably located Ore Transport • All three assessed options for ore transportation – road, conveyer, pipeline – confirmed as technically viable. • No restrictions on intestate transfer of ore (‘Agreement States’). Processing Facility Hydroe
Slide 15: Metallurgical Studies
Metallurgical Studies Three flowsheet options have been costed and modelled 1. Atmospheric leach 2. Pressure leach 3. Hybrid – various combinations involving separate treatment of middlings and clay fractions • Each option incorporates a beneficiation step; rejecting hard, low-grade material. • Curr
Slide 16: Ore Beneficiation by Scrubbing/Screening
Ore Beneficiation by Scrubbing/Screening Potential to significantly improve forecast processing costs • Good results achieved in scrubbing and wet screening tests, supporting earlier test work. • 30% mass reject with a 90% U3O8 recovery. • Hard, low grade, low recovery material rejected. • Capital c
Slide 17: Atmospheric Leach Flowsheet
Atmospheric Leach Flowsheet Final Metallurgical testing underway to confirm parameters ASX 25 March 2024 – Scoping Study Interim Report. AURORAENERGYMETALS.COM 17
Slide 18: Hybrid Flowsheet
Hybrid Flowsheet Hybrid approach to test optimal balance of recovery and cost ASX 25 March 2024 – Scoping Study Interim Report. AURORAENERGYMETALS.COM 18
Slide 19: 2024 Scoping Study Consultants
2024 Scoping Study Consultants AUP Scoping Study has been undertaken by the following parties, listed by work area: • Trepanier Pty Ltd: resource modelling. • DRA Global: metallurgical testwork supervision and flowsheet development. • Amerston Consulting Ltd: independent metallurgical review and flo
Slide 20: Uranium Resource Summary
Uranium Resource Summary1 Meas ured Indic ated Inferred Total U 3O8 Mlb U 3O8 Mlb U 3O8 Mlb U 3O8 Mlb Res ourc e Zone Mt Mt Mt Mt ppm U 3O8 ppm U 3O8 ppm U 3O8 ppm U 3O8 High Grade Zone 1 16.3 487 17.5 1.6 467 1.6 0.1 425 0.1 18 485 19.2 Low Grade Zone 2 43.2 162 15.4 19.8 161 7 26.3 155 9 89.3 160
Slide 21: Contact details
Peter Lester Alasdair Cooke Non-Executive Chairman Non-Executive Director E: info@auroraenergymetals.com Suite 1, 245 Churchill Avenue SUBIACO WA 6008 P: 08 6465 5500 www.auroraenergymetals.com 21