Aura Minerals Inc. reports increased EBITDA in Q2 2024 despite reduced production.

From GlobeNewswire: 2024-08-05 18:20:00

Aura Minerals Inc. (TSX: ORA) has released its unaudited Q2 2024 financial and operational results, showcasing a 6% increase in EBITDA from Q1. Despite reduced production due to mine sequencing, the company’s EBITDA reached US$109 million in H1 2024, reflecting a 111% increase from H1 2023. Aura also distributed US$25 million in dividends and invested US$4 million in share buybacks, resulting in an 8.8% yield on LTM. Road Town, British Virgin Islands, headquarters to Aura, anticipates robust production and continued growth in H2.Key financial highlights for Q2 2024 include a total production of 64,327 GEO, sales of 63,258 GEO, and a net revenue of $134,411. Adjusted EBITDA was $56,172 for the quarter, demonstrating a 6% increase from Q1 2024. Average realized gold sale prices were up to $2,291/oz in Q2 2024, reflecting an 11% increase from Q1 2024. Copper sales prices also rose by 16% to $4.48/lb in the quarter. In terms of AISC, costs were at $1,328/GEO for Q2 2024, with net debt at $142,409. Aura Minerals Inc. is on track to meet its fiscal year guidance for production, cash costs, AISC, and capital expenditures, based on results achieved in the first half of 2024. The Company’s upcoming Q2 2024 Earnings Call will provide further insights into its financial performance and strategic outlook. The management believes that short-to-medium term economic conditions will continue to support commodity prices with some level of volatility, prompting them to evaluate and implement risk mitigation strategies.



Read more at GlobeNewswire:: Aura Announces Q2 2024 Quarterly Financial and Operational