Aura Energy Ltd (ASX:AEE) has gained admission to the London Stock Exchange (AIM) and will be listing on AIM on Monday, 12 September 2016.
As part of the AIM listing, Aura has raised $3.94 million before expenses by the issue of shares at $0.02 each, giving it a market capitalisation of $13.1 million on admission.
The funds raised will be utilised towards completing the feasibility study at Aura’s Tiris uranium project in Mauritania and associated corporate costs.
The Tiris Uranium Project is based on a major greenfield uranium discovery in Mauritania, with 49 million pounds U3O8 (Triuranium octoxide) from 66 million tonnes at 334 ppm U3O8.
Aura also owns 100% of the Häggån uranium project in Sweden and has exploration tenements in gold, lithium and soda ash in Mauritania.
The success of the dual listing process validates the potential of Aura’s uranium assets in Mauritania and Sweden.
The demand for uranium is increasing, with China in particular aggressively building reactors and uranium markets expected to face a supply shortage by the end of the decade.
In conjunction with the AIM placement, Aura has executed subscription agreements with sophisticated Australian investors, to raise a further $820,000 at $0.02 per share.
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