Aurora Energy Metals (ASX:1AE) said that Eagle Energy Metals made the second scheduled $300,000 cash payment to Aurora to extend its exclusive option to acquire the Aurora uranium project in Oregon for a further six months, according to a Wednesday Australian bourse filing.
Eagle will also contribute a further $250,000 toward approved work programs during the extended option term, including metallurgical optimization.
Eagle plans to fund its commitments under the options agreement via a $8 million pre-IPO capital raising in the US.
Aurora also decided to extend the option period for its Western Australian uranium portfolio for a further six months with Metalbelt Holdings, following completion of initial technical and permitting due diligence, supporting initial fieldwork.
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