Aura Energy‘s Tiris uranium project in Mauritania has cleared its last major technical uncertainty, with the company now selecting a financing structure and targeting a final investment decision by the end of 2026. The AURA share price rose 4.35% to 6p on the update.
Aura Energy Tiris Uranium: FEED Economics and the Path to FID
The company shared an advanced draft of its bankable feasibility study with potential finance providers in July. The BFS is on track for completion in September 2026, according to an Investegate company announcement, with Aura also evaluating a potential plant capacity expansion.
A pilot plant could begin operations in October. A Front-End Engineering and Design study, whose flowsheet was finalised during the June 2026 quarter per Aura Energy’s June 2026 quarterly activities report, defined the Tiris project as a near-term, low-cost operation producing 2 million lbs of uranium per annum.
The FEED study outlined a 25-year mine life, development capital of US$230 million, a post-tax NPV of US$499 million and a post-tax IRR of 39%, with a 2.25-year payback at a uranium price of US$80 per lb, according to the Tiris project page. The project holds a 91.3 million lb U3O8 Mineral Resource across a 13,000 km² landholding, with exploitation and environmental permits in place and a 30-year mining convention granted.
Aura held $16 million in cash at the end of June 2026. The exploration permit application for the Häggån polymetallic project in Sweden continues to progress.
Sylvania Platinum: Record Output, Sharply Lower Revenue
Sylvania Platinum (SLP) delivered record annual production of 95,885 4E PGM ounces in the year to June 2026, up from 81,002 ounces in the prior year, the highest annual total in the group’s history according to its quarterly report for 30 June 2026. The share price fell 9.76% to 74p.
The production record masked a sharp deterioration in financial performance. Net revenue in the fourth quarter fell 38% to $48.5 million against the prior quarter, while adjusted EBITDA dropped 65% to $16.9 million, driven by a lower 4E gross basket price and an 8% rise in direct operating costs, according to Sylvania Platinum’s fourth quarter operations report.
The Sylvania Dump Operations declared 23,868 4E PGM ounces in Q4 FY2026, up from 22,853 ounces in Q3 FY2026. Chrome production at the Thaba joint venture fell 6% to 17,889 tons in the fourth quarter due to variability in ore supply, with full-year chrome output of 50,317 tons at the bottom of expectations. Cash stood at $67.2 million at the end of June 2026.
Other AIM Movers
Colefax Group (CFX) reported full-year sales up 5% to £115.9 million, with pre-tax profit rising 18% to £10.5 million on the strength of its US fabrics business. Net cash at year-end was £23.5 million, up from £22.3 million in 2025, according to the company’s preliminary results on the London Stock Exchange, after £6.1 million in share buybacks. The total dividend is 6.3p per share, 7% higher than the prior year. The CFX share price added 2.42% to £14.80.
Supercapacitors developer Cap-XX (CPX) raised £2.2 million via a placing and subscription at 0.15p per share, with proceeds earmarked for updating manufacturing lines. A retail offer, set to close on 3 August, could raise additional funds. The share price fell 29.3% to 0.145p.
Litigation Capital Management (LIT) said its debt covenant waiver from Northleaf has been extended to 31 August, with the interest charge remaining two percentage points above the original level. The share price slipped 7.05% to 2.175p as the strategic review continues.
Zanaga Iron Ore (ZIOC) said discussions with Red Arc Minerals continue, with a letter of intent issued by a western government-backed financing institution towards a strategic financing of up to $500 million. The transaction period has been extended to the end of November 2026 to allow Red Arc additional time to arrange its equity investment. The share price fell 6.22% to 3.845p.
Quadrise (QED) extended its existing agreement with its Moroccan representative until the end of 2026, offering 12 million warrants contingent on a commercial MSAR fuel supply agreement being announced by that date. The share price rose 1.52% to 1.005p.
With Aura Energy’s bankable feasibility study due in September 2026 and a pilot plant start targeted for October, the pace of newsflow from the Tiris uranium project over the next two months will set the tone for any financing decision before year-end.
