Aurora Energy Metals Limited · ASX:1AE
Aurora Energy Metals — IMARC 2023
23 slides from Aurora Energy Metals's conference presentation, Oct 31, 2023
Slide 1: Advancing the USA's largest measured uranium deposit
Advancing the USA’s largest measured uranium deposit IMARC Presentation Uranium Market & Corporate Update 31 October 2023
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by and issued by Aurora Energy Metals Limited, to assist it in “Measured Resources”, “Indicated Resources” and “Inferred Resources” are to those terms as defined informing interested parties about the Company and its progress. It should not be considere
Slide 3: Corporate Snapshot
Corporate Snapshot Advancing the USA’s largest measured uranium deposit Capital Structure (on an undiluted basis, as at 30 October 2023) 11% 1AE 179m 11% ASX Code Shares on Issue (inc. 19.9m escrowed) 48% 10% A$18M 30m Market Cap (at A$0.10 per share) Options (21.2m @ $0.15, 6m @ $0.20, 2.85m @ $0.3
Slide 4: A Compelling Uranium Investment Opportunity
A Compelling Uranium Investment Opportunity Aurora’s valuation compares favourably with its peers. Significant value upside on current uranium resource fundamentals alone. The best uranium value opportunity? EV/Measured & Indicated Resource $18.5 Share Prices as at 28 September 2023 Some basic rules
Slide 5: One of the largest US Uranium Deposits
One of the largest US Uranium Deposits 107.3 Mt @ 214 ppm U3O8 for 50.6 Mlb U3O8 – focussed on the shallow high-grade core: 18Mt @ 485 ppm U3O8 for 19.2 Mlb U3O8 The largest mineable, measured and indicated uranium mineral resource in the USA Hi-grade Global Mineral Resources (Mlb U3O8) Core Resourc
Slide 6: Investment Proposition
Investment Proposition Key reasons to invest Resource Quality Aurora Energy Metals Project: • Large, well-defined deposit The USA’s largest mineable, measured and indicated uranium deposit Great Infrastructure • Direct access to hydroelectricity • Sealed and unsealed roads Clear pathway to developme
Slide 7: Aurora Uranium Project – Key Points
Aurora Uranium Project – Key Points The USA’s largest mineable, Measured & Indicated Uranium Resource • 1970’s discovery, extensively drilled, with over 700 holes, multiple testwork programs. • ~90,000m of drilling – replacement cost over $45m • Large, well-defined resource (50.6 Mlb U3O81). • Devel
Slide 8: Clear Pathway to Development
Clear Pathway to Development Mine in Oregon, processing plant and tailings facilities on private land in Nevada1 Mine will be powered by emissions free, low cost hydro-electricity • Mine in Oregon → Process in Nevada. • Oregon – Basic Mine Operating Permit. • Nevada – Proven permitting path. • Excel
Slide 9: Uranium Market Update
Uranium Market Update Globally, a bifurcated market Negligible production in the regions with the bulk of current demand1 • Market imbalance between location of demand & supply. • Exacerbated by Russia’s invasion of Ukraine. • Demand building in the east – China will be largest consumer within a dec
Slide 10: Uranium Market Update
Uranium Market Update The Supply-Demand imbalance is rapidly deteriorating, favouring credible aspiring producers AURORAENERGYMETALS.COM 10
Slide 11: Uranium Market Update
Uranium Market Update The inventory overhang is now depleted, and production shortfalls are the future’s reality 1. UxC Presentation – NEI International Uranium Fuel Seminar, October 2023 AURORAENERGYMETALS.COM 11
Slide 12: Uranium Market Update & the US Uranium Boom & Bust
Uranium Market Update & the US Uranium Boom & Bust Supply is almost nonexistent in the world’s largest consumer of uranium Weapons Inventory Megatons to Inventory Procurement Accumulation Megawatts Depletion Mlbs U3O8 AURORAENERGYMETALS.COM 12
Slide 13: Which is why US domestic uranium is so important
Which is why US domestic uranium is so important The world’s largest uranium consumer imports almost all its requirements1 • World’s largest nuclear power fleet – hence the world’s largest uranium consumer. Where does the USA get its uranium? • Well established nuclear power sector with no infrastru
Slide 14: And why there's a resurgent US Uranium Mining Sector
And why there’s a resurgent US Uranium Mining Sector Aggressive plans to re-establish a reliable, domestic nuclear fuel supply chain1 Civil Nuclear Credit Program Strategic Uranium Reserves Bi-Partisan Support Where does the USA get its uranium? Financial support for nuclear power plants at risk • U
Slide 15: The uranium price has responded
The uranium price has responded Contract volumes and prices reaching record levels U3O8 Price US$/lb 1. Curzon Uranium – NEI International Uranium Fuel Seminar, October 2023 AURORAENERGYMETALS.COM 15
Slide 16: Concluding Remarks
Concluding Remarks US Jurisdiction: Asset Quality: Infrastructure: Attractive valuation: Reasons to invest in The world’s largest Largest mineable Will enable accelerated Significant upside Aurora Energy Metals uranium consumer, M&I uranium development, with given current trying to revitalise resour
Slide 17: Appendices
Appendices Appendices AURORAENERGYMETALS.COM 17
Slide 18: Well Defined Mineral Resource
Well Defined Mineral Resource Well understood, with over 600 holes drilled, but still some exploration upside 1 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 Declared at Aurora Uranium De
Slide 19: Low Geological Risk
Low Geological Risk Global resource ~82% Measured and Indicated, High grade core ~99.5% Measured and Indicated 1 100m 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 19
Slide 20: Uranium Resource Summary
Uranium Resource Summary1 1. High grade zone estimated using a 300 ppm U3O8 cut-off 2. Low grade zone estimated using a 100 ppm U3O8 cut-off 3. Appropriate rounding applied JORC Disclaimer: Information in this announcement relating to Exploration Results and Mineral Information in this announcement
Slide 21: Peer Comparison Data
Peer Comparison Data1 Project Owner Category Tonnes U 3 O 8 Mlbs Grade U 3 O 8 Cut-Off Criteria Source Indicated 119.59 132.93 0.056 NI 43-101 Compliant Coles Hill, Virginia2 Consolidated Uranium Inferred 36.28 30.41 0.042 0.025 https://consolidateduranium.com/projects/usa/coles-hill/ (August 19 201
Slide 22: Peer Comparison Data
Peer Comparison Data Company Project Ownership Mkt Cap1 Tonnes2 Grade2 Contained2 % A$m Mt ppm Mlb U3O8 DYL.ASX Namibia/WA Projects 100% $978 395 262 228 BMN.ASX Etango 95% $426 288 224 142 LOT.ASX Kayelekera 85% $365 27 534 32 AEE.ASX Tiris 100% $181 62 216 30 AGE.ASX Samphire & Alligator Rivers 10
Slide 23: Greg Cochran, Managing Director & CEO
Greg Cochran Managing Director & CEO E: info@auroraenergymetals.com Suite 1, 245 Churchill Avenue SUBIACO WA 6008 P: 08 6465 5500 www.auroraenergymetals.com 23