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Aura Minerals Announces 2021 Operational and Financial Guidance with 22% to 42% of production growth compared to 2020
ROAD TOWN, British Virgin Islands, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Aura Minerals, Inc. (TSX: ORA) (B3: AURA33) (“Aura Minerals” or the “Company”) is pleased t
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Aura Minerals, Inc. (TSX: ORA) (B3: AURA33) (“Aura Minerals” or the “Company”) is pleased to announce operational and financial guidance for the financial year ending December 31, 2021 in respect of: (i) production of gold equivalent ounces (“GEO”), (ii) cash cost from operations per equivalent ounce of gold produced, and (iii) capital expenditures. Along with 2021 guidance, the Company is also announcing management’s production targets for 2022-2024. Rodrigo Barbosa, CEO of Aura, comments: “During the past several years, we focused on (i) developing new strategy and asset portfolio, (ii) strengthening our balance sheet, and (iii) building a culture of responsible and high-performance management. As evidenced by our record preliminary 2020 annual production, this focus is paying off. On January 7, 2021, Aura announced record high production of 204,000 GEO for 2020, and we expect to continue to grow again in 2021 with targeted annual production between 250,000 and 290,000 GEO. Moreover, for the medium term, we set a target to more than double annual production, achieving between 400,000 and 480,000 GEO in 2024, based on the combination of our potential brownfield expansion and existing greenfield projects, not including any potential acquisitions.” 2021 Production Guidance Aura estimates total production volume for the 2021 to be between 250,000 and 290,000 GEO, as projected in the table below, by business unit: Gold equivalent ounces, or GEO, is calculated by converting the production of silver and copper into gold using a ratio of the prices of these metals to that of gold. The prices used to determine the gold equivalent ounces are based on the weighted average price of silver and copper realized from sales at the Aranzazu Complex during the relevant period, which are assumed to be as follows: Gold = US$ 1,850/oz; Silver = US$ 24.28/oz; Copper = US$ 3.02/lb Some of the main factors that may impact production results of business units are detailed below: San Andres: Esperanza is expected to remain as the main source of ore for 2021. Improvements in the plant are expected to reduce the leaching cycle and reduce DMT in the mine to increase efficiency. The Company also intends to conduct exploration activities to develop new targets surrounding the existing pit....