ASX- and Aim-listed Aura Energy on Friday reported a C$10-million investment for its polymetallic Häggån project in Sweden, establishing a valuation of C$50-million.

The funding will be provided by MMCAP International and other strategic investors in exchange for a 19.7% interest in the project.

Under a binding agreement, Aura will transfer 100% ownership of Häggån to SIU Metals, an unlisted Canadian public company, in return for shares, resulting in SIU Metals becoming the project’s sole owner.

Following the transaction, Aura will retain a 78.7% interest in SIU Metals, while the strategic investors will hold 19.7%. SIU Metals intends to seek a listing on the TSX-V in connection with the transaction.

Proceeds from the C$10-million investment will be used to advance the Häggån project, including permitting activities and resource expansion through ongoing exploration on surrounding tenements.

Aura said the financing was expected to complete in February 2026, with the broader transaction scheduled for completion in June 2026.

The company noted that the creation of a Canada-listed vehicle would provide increased market visibility and enable direct valuation comparisons with peers holding similar deposits.

The transaction follows recent amendments to Sweden’s Minerals Act, which came into effect on January 1, 2026, allowing for the exploration and extraction of uranium.

Executive chairperson Phil Mitchell said the investment reflected the quality and long-term potential of the Häggån project.

“We are delighted to welcome investors of the calibre of MMCAP and other high-quality investors into this new vehicle for Aura’s Häggån project,” Mitchell said.

“This transaction shines a spotlight on the under-recognised value of Häggån within Aura Energy and creates an independent and dedicated pathway for funding, growth and management of the project,” he added.

Mitchell said Aura’s shareholders would continue to benefit from the project’s upside potential following completion of the transaction.