Aura Energy said technical investigations during a definitive feasibility study had indicated the potential for the recovery of vanadium from the Tiris uranium project in Mauritania.

The Tiris project value, driven by low operating and development capital costs, would benefit further with vanadium recovery, which was considered technically achievable, the company said.

The vanadium price had risen six-fold over the past three years, benefitting from significant structural shifts in the Chinese steel industry, it added.

At 2:41pm: (LON:AURA) Aura Energy Limited share price was 0p at 1.15p