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Aura Energy Ltd said on Thursday its interim pretax loss for 2022 had widened whilst it pursued the exploration and evaluation of uranium and vanadium.
The London-based minerals company that holds projects in Mauritania and Sweden said its half year pretax loss widened to $2.9 million from $620,975 the year prior.
The company did not generate revenue and said no dividends, unchanged from the previous year.
Aura has been exploring and evaluating uranium in its Mauritania Tiris project and vanadium in its Haggan project in Sweden, to which there has been ‘no significant change’ in the nature of these activities, the company said.
Looking ahead, regarding the Tiris project, Aura said it has the ‘potential to develop a low-capital/low-operating-cost mining project for the benefit of the company’s shareholders and the Mauritanian people’ as demand for uranium is expected to grow. As for its Haggan project in Sweden, Aura said it will focus on the conversion of its exploration licenses into an exploitation permit.
Shares were 3.1% down at 15.50 pence in London on Thursday morning.
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