From Investing.com: 2024-05-12 19:49:19

Aura Minerals Inc. (ORA.TO) has reported a strong start to 2024, with a 28% increase in production and a 45% rise in EBITDA in the first quarter. The company produced 68,000 gold equivalent ounces and highlighted progress in its Borborema project. Cost efficiency, net revenues of $132 million, and a buyback program and hedging strategies were also emphasized.

Aura Minerals aims to expand production and reserves at Borborema, with the project expected to double gold reserves upon completion. The company plans to increase production by 30% next year and is actively exploring mergers and acquisitions to support growth targets, with a focus on over 500,000 ounces of gold equivalent production in the coming years. Listing on an international exchange is under consideration to enhance liquidity.

During the earnings call, CEO Rodrigo Barbosa highlighted achievements such as five consecutive quarters without lost-time injuries and increased production and EBITDA. The Borborema project is progressing on schedule, with road relocation efforts to potentially double gold reserves. Safety, cost efficiency, and productivity improvements were also key focus areas discussed in the call.



Read more at Investing.com: Aura Minerals reports strong first quarter with production up By Investing.com