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Uranium, battery-metals junior reduces headcount

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(Kitco News) - Citing difficult market conditions, Aura Energy (ASX:AEE) is reducing its headcount and undertaking other cost cuts.

Aura Energy is an Australian-based junior with polymetallic, uranium and battery metal projects located in Europe and Africa.

In addition to cutting staff, the company will also suspend consultant work and suspend director's pay.

"Expenditure on the gold and vanadium assets will be minimal with the focus only on corporate transactions and/or IPO or spin-outs of those assets," writes the company. "Aura will continue to advance corporate initiatives for all its assets as a way of funding the path forward for further evaluation or development of the projects."

In June 2019 the company released a definitive feasibility study for its Tiris uranium project located in Mauritania.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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