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.

By Michael McCrae

For Kitco News

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mmccrae@kitco.com

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