Aurora on development pathway amid uranium bull run

Aurora Energy Metals (ASX:1AE) is on a pathway to development as the minnow hopes to emerge with a ‘mine of the future’ as the uranium sector enjoys 15-year price highs amid a touted bull market.

In what is being reported as a ‘blistering bull run’ for uranium – the radioactive element used to produce nuclear energy – the sectors looks to be on track for a record annual gain as the world transitions towards decarbonisation.

The Sprott Uranium Miners Exchange-Traded Fund (URNM) has increased about 42% in 2023, which is higher than the 40% rise seen in the tech-heavy Nasdaq 100 index.

The price of uranium is up 55% this year and last week it reached US$74.50 per pound, which is the highest level since the Global Financial Crisis (GFC) in 2008. Comparatively, uranium spot prices climbed 50% in the first 4 months of 2022 when it hit $63.60/lb with the gain mostly attributed to Russia’s then newly launched war against Ukraine.

Amid this backdrop, Aurora Energy Metals will descend on the Global Uranium Conference from 15-16 November 2023 at Adelaide Convention Centre amid a trading halt pending the release of an announcement.

Managing Director Greg Cochran will be presenting at the event. The uranium hopeful is also the official networking closing drinks sponsor where the MD says delegates will have the opportunity to interact with global leaders in the uranium, nuclear, energy, and decarbonisation sectors.

In his presentation, Cochran will be addressing a hypothetical question: “Is a mine of the future achievable today?”

The request for a trading halt last week came ahead of Aurora’s annual general meeting, which will be held in Subiaco in Western Australia on 23 November 2023.

The company’s flagship project, the Aurora Energy Metals Project (AEMP), is on a pathway to development. Aurora plans to continue uranium Scoping Study work during the current quarter, including an ongoing metallurgical testwork program at ALS Metallurgy in Perth.

Aurora will also conduct further mining and infrastructure-related trade-off studies.

Write to Adam Orlando at Mining.com.au

Images: Aurora
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.