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Aura Minerals Announces Preliminary Third Quarter 2020 Production Results
ROAD TOWN, British Virgin Islands, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA32) (“Aura” or the “Company”) today announces prelim
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA32) (“Aura” or the “Company”) today announces preliminary production results for the third quarter of 2020. Total production across our operations for the third quarter of 2020 was 56,472 gold equivalent ounces (“GEO”)¹, demonstrating strong production recovery after being negatively impacted by the COVID-19 pandemic (the “Pandemic”) in the first and second quarters of 2020. The chart below shows consolidated quarterly production volume, measured in GEO¹, since the first quarter of 2019. In the third quarter of 2020, the Company resumed the growth trend started at the beginning of 2019, which was interrupted in the first and second quarters of 2020 mainly due to interruptions of operations in Mexico and Honduras as a result of the Pandemic: Preliminary GEO¹ production volume for the three months ended September 30, 2020, when compared to the previous quarter and the same period of 2019 were recorded by each operating mine as follows: ¹ 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. For the threemonths endedSeptember 30,2020 For the threemonths endedJune 30, 2020 For the threemonths endedSeptember 30,2019 % changevs. Q22020 % changevs. Q32019 Ounces produced (GEO) San Andres 18,802 8,835 20,746 +113% -9% EPP Mines¹ 18,231 13,725 14,506 +33% +26% Aranzazu 17,909 14,748 17,290 +21% +9% Gold Road² 1,530 N/A N/A N/A N/A Total GEO produced - current prices³ 56,472 37,308 52,542 +51% +7% A summary of the performance by each operating mine is explained below: San Andres: Strong production recovery compared to Q2 2020, which was impacted by the interruption of operations due to the Pandemic. Aura believes production was still below the mine’s potential, however, as the months of August and September have historically been strongly impacted by high rain volumes in the region. Brazilian Mines: Best quarter since the EPP start-up in 2016 as result of increase in ore mined and hig...