Andrew Grove takes the reins at Aura Energy to steer development of its uranium and vanadium assets
Special Report: With a plethora of experience developing projects in Africa, Andrew Grove has joined Aura Energy as its new MD and CEO to help drive development of its advanced Tiris uranium project and massive Häggån vanadium uranium project.
Aura Energy (ASX:AEE) is primarily focused on its Tiris project in Mauritania which has an exploration target aimed at growing the resource close to 100Mlb. It has also just applied for additional tenements that may expand the resource well beyond this U3O8 target.
The Company’s second asset, Häggån in Sweden, is predominately a vanadium project hosted in a large polymetallic orebody. It is flagged to produce uranium as a by-product and already has a defined 800mlb U3O8 resource base.
Grove brings more than 30 years of mining and finance experience to AEE, including significant expertise in uranium and West African development, financing and operations.
He was recently MD of Chesser Resources which was acquired by Fortuna Silver Mines late last year at a 95% premium.
Grove has also spent considerable time with the likes of Perseus Mining and Macquarie Bank and is currently a non-executive director of lithium explorer Zenith Minerals (ASX:ZNC).
“I am delighted and very excited to be joining AEE and to become part of the team that intends to deliver the high-quality Tiris uranium project in Mauritania, into a market that recognises the critical role nuclear energy has to play in the global, low-carbon energy transition,” Grove says.
“The current drilling program offers AEE the opportunity to expand its resource base to more than 100Mlb and we believe that with the additional tenure applied for in December 2023, we have significant potential to identify additional shallow economic uranium mineralisation around both Tiris West and at Tiris East.
“I am similarly excited about AEE’s 2Bt Häggån polymetallic deposit in Sweden. During the past year, AEE has put in a substantial amount of time to engage with stakeholders in Sweden, locally and nationally.
“We have seen some regulatory progress in Sweden as far as simplifying the permit process for mining. I look forward to continuing the Swedish stakeholder dialogue and be part of a successful application for Häggån.
“The asset represents significant value, including 800Mlbs of uranium resources, that is not currently fully reflected in the AEE share price.”
Grove’s appointment follows the resignation of David Woodall as CEO and MD, having been instrumental in driving forward the Tiris project’s enhanced definitive feasibility study (DFS) and the Haggan scoping study.
“Having considered the likely demands of international travel and workload for 2024 and beyond, I have advised the board of my resignation as MD and CEO,” Woodall says.
“I have immensely enjoyed the challenges of the global push towards clean energy and have no doubt that a company such as AEE will be at the forefront of the industry in the years to come; however, to continue as I have throughout 2023 would be to place excessive strain on family and me personally.”
AEE non-executive chair Phil Mitchell thanked Woodall for his efforts to position the company’s assets on the cusp of development.
“Dave has made a significant contribution and materially progressed both the Tiris uranium project through to a FEED study and the Häggån project to a scoping study with promising results,” he says.
This article was developed in collaboration with Aura Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.