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Aura Minerals Announces Q1 2023 Financial and Operational Results
ROAD TOWN, British Virgin Islands, May 04, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) announce
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, May 04, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) announces that it has filed its unaudited consolidated financial statements and management discussion and analysis (together, “Financial and Operational Results”) for the period ended March 31, 2023 (“Q1 2023”). The full version of the Financial and Operational Results can be viewed on the Company’s website at www.auraminerals.com or on SEDAR at www.sedar.com. All amounts are in U.S. dollars unless stated otherwise. Rodrigo Barbosa, President and CEO of Aura, commented: “Despite lower production in Q1 2023 compared to Q4 2022, due to mine sequencing at EPP and Aranzazu, higher metal prices and control of our costs resulted in an EBITDA in line with Q4 2022. Looking ahead, second quarter should also reflect lower grades while we expect improved operating results across all our producing mines during the second half of the year. We remain on track to achieve our 2023 production guidance of between 254,000 and 292,000 GEO at our All-In Sustaining Costs (“AISC”) guidance of between $1,037 and $1,193/GEO.” Mr. Barbosa continued: “Importantly, following the end of the quarter, we brought our first greenfield project online in 16 months with almost no deviation from the budget, demonstrating our ability to execute. Almas is on track to achieve commercial production in Q3. We remain focused on adding ounces to our production while we prepare for construction plans at Borborema.” Q1 2023 Financial and Operational Highlights: Total production was 53,265 GEO1 and decreased by 9% in Q1 2023 compared to Q1 2022, when calculated based on constant2 prices. At Aranzazu, the operation was stable. Based on constant prices, production in GEO decreased by 5% compared to Q1 2022 and by 9% compared to Q4 2022 as a result of slightly lower gold and copper grades mined, in line with expectations. At EPP, production in GEO increased by 4% compared to Q1 2022. Compared to Q4 2022, production decreased 53% as result of mine sequencing and depletion of high-grade ore from the Ernesto pit. The Company expects production from EPP to increase during the second half of the year with improved mine sequencing and return to average grades. At San Andres production was 16% higher than Q4 2022, gradually increasing...