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Aura Minerals Announces Third Quarter 2022 Financial and Operational Results, 2022 Guidance and 2025 Management Production Targets Updates
ROAD TOWN, British Virgin Islands, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) announc
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) announces that it has filed unaudited consolidated financial statements and management discussion and analysis (together, “Financial and Operational Results”) for the period ended September 30, 2022 (“Q3 2022”), which also contains the Annual Guidance Update (“2022 New Guidance”) and a new long term production target (“2025 Production Target”). 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. Q3 2022 Highlights (Compared to Q3 2021): Consolidated quarterly production of 58,175 gold equivalent ounces (“GEO1”) in Q3 2022, an increase of 8% vs. Q2 2022 at constant metal prices; consolidated production for the first nine months of 2022 was 174,861 GEO Aranzazu reached 313k tons milled in the quarter, a record high for a single quarter EPP produced 48% in Q3 2022 more than in the previous quarter; production is expected to continue to increase from EPP in Q4 2022 San Andres production was below the Company’s expectations in Q3 2022 as a result of lower productivity generated by the ramp up of a new mine contractor and heavy rains, about 70% above the historical average for this time of the year Despite higher production in tons, lower copper prices in the quarter impacted total GEO calculation for copper concentrate production, while effective copper content increased 12% in comparison to same quarter of 2021 Aura’s revenues in Q3 2022 were US$81.1 million, a decrease of 16% compared to the same period of 2021 due to lower metal prices and non-recurring Q3 price adjustments on Aranzazu's offtake agreement of - US$ 10 million (“Aranzazu Q3 Offtake Price Adjustments”) Adjusted EBITDA in Q3 2022 was US$16.7 million, negatively impacted by lower metal prices and Aranzazu Q3 Offtake Price Adjustments During Q3 2022, Aura invested US$ 81 million in the Company’s growth initiatives, including the Big River acquisition, Almas development and exploration, increasing its Net Debt in the quarter as already expected Aura has also been able to reasonably off set inflation pressures and annual cash costs are now expected to be within t...