Business
Aura Minerals Announces Q1 2024 Quarterly Financial and Operational Results
ROAD TOWN, British Virgin Islands, May 06, 2024 (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 06, 2024 (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, 2024 (“Q1 2024”). 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.sedarplus.ca. All amounts are in thousands of U.S. dollars unless stated otherwise. Rodrigo Barbosa, President, and CEO of Aura, commented, “We finished the quarter with strong results, with production up 28% and EBITDA up 45% vs. Q1 2023, and Recurring Free Cash Flow of $19 million. This was achieved despite an average gold price increase of only 9.6% in Q1 2024, reaching $2,070/oz (now at around $2,300/oz), and a decrease of copper prices of 6%, averaging at $3.86/lb in Q1 2024 (now at around $4.40/lb). Furthermore, the first quarter witnessed another decrease in our AISC to US$ 1,287 /GEO, reflecting our ongoing efforts towards efficiency and cost reduction. Additionally, we reported the progress of the Borborema construction, which is now at 25%. Considering current gold prices at $2,300/oz, this project would be expected to generate a US$ 439 million NPV and a leveraged IRR of 74% p.a., considering all other Feasibility Study assumptions unchanged”. Q1 2024 Financial and Operational Highlights: (US$ thousand): For the threemonths endedMarch 31, 2024 For the threemonths endedMarch 31, 2023 Total Production¹ (GEO) 68,187 54,368 Sales² (GEO) 69,086 53,886 Net Revenue 132,078 96,987 Adjusted EBITDA 53,208 36,605 AISC per GEO sold 1,287 1,156 Ending Cash balance 214,066 103,400 Net Debt 105,361 86,382 (1) Considers capitalized production (2) Does not consider capitalized production During Q1 2024, Aura maintained zero lost time incidents (\"LTIs\") across all its operating business units and projects, a continuation of the safety milestone achieved in 2023. In Q1 2024, production reached 68,...