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Aura Minerals Closes the Royalty Agreement and Gold-Linked Loan Agreement to Fund the Construction of the Borborema Project
ROAD TOWN, British Virgin Islands, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) (“Aura” or the “Company”) is ple
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) (“Aura” or the “Company”) is pleased to announce that, further to its press release dated December 15, 2023, Borborema Inc. (“Borborema”), a wholly owned subsidiary and indirect owner of the Company’s Borborema gold project in Rio Grande do Norte State, Brazil (the “Borborema Project”), has closed the agreement with Gold Royalty Corp. (“Gold Royalty”) and has received cash proceeds today of US$31 million to develop the Borborema Project (the “Transaction”). The US$31 million in proceeds is composed of US$21 million from the sale of a net smelter return royalty over the Borborema Project (the “NSR Royalty”) and US$10 million from a gold-linked loan (the “Gold-Linked Loan”). Together with the US$100 million term loan previously entered into with Banco Santander Brazil and US$14 million raised through gold collars with several financial institutions, Aura, through its subsidiaries, has now secured over US$145 million towards the estimated construction of the Borborema Project, which, together with cash on hand is now fully funded. The Borborema Project Capex is estimated at US$188 million. About Aura 360° Mining Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining. Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company’s four producing assets include the San Andres gold mine in Honduras, the EPP and the Almas gold mines in Brazil and the Aranzazu copper-gold-silver mine in Mexico. In addition, the Company has the Tolda Fria gold project in Colombia and four projects in Brazil, of which three gold projects: Borborema and Matupá, which are in development; and São Francisco, which is on care and maintenance. The Company also owns the Serra da Estrela copper project in Brazil, Carajás region, under exploration stage. Forward-Looking Information This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking st...