Name: Aura Announces Q3 2023 Financial and Operational Results and Guidance Update
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Aura Announces Q3 2023 Financial and Operational Results and Guidance Update

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Accessibility: Skip TopNavToronto, Ontario, CANADAROAD TOWN, British Virgin Islands, Nov. 06, 2023 (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 September 30, 2023 (“Q3 2023”). 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. Rodrigo Barbosa, President and CEO of Aura, commented: “During Q3, Aura achieved a critical milestone with a year of zero lost-time incidents, demonstrating our unwavering commitment to safety across all operations. Financially, we saw significant growth with increases in volume, revenues, and EBITDA, and we anticipate continued enhancements in volume and margins in Q4. Despite lower-than-expected productivity at EPP due to above-average rainfall, which delayed high-grade output from Ernesto, our strategic progress was substantial: we launched commercial production at Almas, pioneering industry standards for efficiency; completed a pivotal Feasibility Study for Borborema with 52% IRR (after tax and leveraged) at $1,900 Oz gold price; acquired the final 20% share; and secured construction financing. These efforts have solidified our strategy to reach an annualized production rate of 450,000 GEO by 2025.” Q3 2023 Financial and Operational Highlights: Borborema Project: Operational and Financial Overview ($ thousand): &nbsp;For the three months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2023For the nine months ended September 30, 2022Total Production1 (GEO)64,875&nbsp;58,175&nbsp;166,662&nbsp;173,758&nbsp;Sales2 (GEO)63,516&nbsp;57,963&nbsp;165,352&nbsp;180,241&nbsp;Net Revenue110,635&nbsp;81,189&nbsp;292,572&nbsp;286,849&nbsp;Adjusted EBITDA30,020&nbsp;16,661&nbsp;93,214&nbsp;97,195&nbsp;AISC per GEO sold1,437&nbsp;1,251&nbsp;1,330&nbsp;1,154&nbsp;Ending Cash balance178,989&nbsp;120,916&nbsp;178,989&nbsp;120,916&nbsp;Net Debt112,110&nbsp;80,723&nbsp;112,110&nbsp;80,723&nbsp;1 Considers capitalized production&nbsp;&nbsp;&nbsp;&nbsp;2 Does not consider capitalized production&nbsp;&nbsp;&nbsp;&nbsp;3 Considering the average price in Aranzazu&nbsp;&nbsp;&nbsp;&nbsp; 2023 Guidance:The Company’s updated gold equivalent production, AISC and cash operating cost per gold equivalent ounce sold, and CAPEX guidance for 2023 detailed below. ProductionThe table below details the Company’s updated GEO production guidance for 2023 by business unit, and a comparison to the previous guidance: &nbsp;Gold equivalent thousand ounces ('000 GEO) production - 2023&nbsp;ActualsPreviousAranzazu104-112104-112EPP Mines46-5056-64San Andres62-6962-69Almas19-2223-28Total231-253245-273 For metal prices for previous guidance: Copper price = $3.90/lb; Gold Price = $1,925/oz; Silver Price = US$21,50/oz. For current guidance, the Company considered: Copper price = $3.90/lb; Gold Price = $1,931/oz; Silver Price = $23,60/oz. Factors that contributed to the change in the Company’s guidance include: All in all, production of 231,000 to 253,000 GEO at current prices in 2023, presented a decrease of 14,000 to 20,000 GEO (a reduction of about 7%) when compared to the previous guidance. Cash costsThe table below shows the Company’s updated guidance for 2023 cash operating costs per GEO sold by business unit ($/GEO), and a comparison to the previous guidance: &nbsp;Cash Cost per equivalent ounce of gold sold - 2023&nbsp;ActualsPreviousAranzazu783-842783-842EPP Mines1,031-1,142849-927San Andres1,193-1,2841,137-1,222Almas956-1,100865-995Total949-1029897-973 Assumes the following assumptions:For metal prices for previous guidance: Copper price = $3.90/lb; Gold Price = $1,925/oz; Silver Price = US$21,50/oz. For current guidance, the Company considered: Copper price = $3.90/lb; Gold Price = $1,931/oz; Silver Price = $23,60/oz.For foreign exchange rates impacts: For previous guidance: MXN 17.00= USD 1.00; R$4.90=USD 1.00; HON 24.50=USD 1.00. For current guidance: MXN 16.80= USD 1.00; R$4.90=USD 1.00; HON 24.50=USD 1.00 Factors that contributed to the change in the Company’s guidance include: All In Sustaining costsThe table below shows the Company’s updated 2023 guidance for all-in sustaining costs per GEO sold by Business Unit ($/GEO), and a comparison to the previous guidance: &nbsp;AISC per equivalent ounce of gold sold - 2023&nbsp;ActualsPreviousAranzazu1,025-1,1011,025-1,101EPP Mines1,602-1,7521,342-1,463San Andres1,297-1,3941,241-1,333Almas1,220-1,3971,112-1,280Total1,225-1,3241,162-1,261 Assumes the following assumptions:For metal prices for previous guidance: Copper price = $3.90/lb; Gold Price = $1,925/oz; Silver Price = US$21,50/oz. For current guidance, the Company considered: Copper price = $3.90/lb; Gold Price = $1,931/oz; Silver Price = $23,60/oz.For foreign exchange rates impacts: For previous guidance: MXN 17.00= USD 1.00; R$4.90=USD 1.00; HON 24.50=USD 1.00. For current guidance: MXN 16.80= USD 1.00; R$4.90=USD 1.00; HON 24.50=USD 1.00 Factors that contributed to the change in the Company’s guidance include: Capex: The table below shows the Company’s updated breakdown of estimated capital expenditures by type of investment, and a comparison to the previous guidance: &nbsp;Capex (US$ million) - 2023&nbsp;ActualsPreviousNew projects + Expansion54-5844-45Exploration12-1412-14Sustaining29-3529-35Total95-10885-95 Assumes the following assumptions:For foreign exchange rates impacts: For previous guidance: MXN 17.00= USD 1.00; R$4.90=USD 1.00; HON 24.50=USD 1.00. For current guidance: MXN 16.80= USD 1.00; R$4.90=USD 1.00; HON 24.50=USD 1.00 Key Factors The Company’s future profitability, operating cash flows, and financial position will be closely related to the prevailing prices of gold and copper. Key factors influencing the price of gold and copper include, but are not limited to, the supply of and demand for gold and copper, the relative strength of currencies (particularly the United States dollar), and macroeconomic factors such as current and future expectations for inflation and interest rates. Management believes that the short-to-medium term economic environment is likely to remain relatively supportive for commodity prices but with continued volatility. To decrease risks associated with commodity prices and currency volatility, the Company will continue to evaluate and implement available protection programs. For additional information on this, please refer to the AIF. Other key factors influencing profitability and operating cash flows are production levels (impacted by grades, ore quantities, process recoveries, labor, country stability, plant, and equipment availabilities), production and processing costs (impacted by production levels, prices, and usage of key consumables, labor, inflation, and exchange rates), among other factors. Reconciliation from income for the quarter for EBITDA and Adjusted EBITDA ($ thousand): &nbsp;For the three months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2023For the nine months ended September 30, 2022Profit (loss) from continued and discontinued operation7,759&nbsp;70&nbsp;37,788&nbsp;43,934&nbsp;Income tax (expense) recovery6,758&nbsp;2,099&nbsp;17,200&nbsp;23,084&nbsp;Deferred income tax (expense) recovery1,095&nbsp;2,822&nbsp;(6,323)(262)Finance costs5,946&nbsp;5,912&nbsp;14,399&nbsp;5,626&nbsp;Other gains (losses)(4,986)(3,330)(7,630)(2,255)Depreciation13,449&nbsp;9,088&nbsp;37,781&nbsp;27,068&nbsp;EBITDA30,020&nbsp;16,661&nbsp;93,214&nbsp;97,195&nbsp;Impairment-&nbsp;-&nbsp;-&nbsp;-&nbsp;ARO Change-&nbsp;-&nbsp;-&nbsp;-&nbsp;Adjusted EBITDA30,020&nbsp;16,661&nbsp;93,214&nbsp;97,195&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reconciliation from the consolidated financial statements to cash operating costs per gold equivalent ounce sold ($ thousand): &nbsp;For the three months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2023For the nine months ended September 30, 2022Cost of goods sold(84,097)(65,361)(206,691)(192,335)Depreciation13,318&nbsp;9,061&nbsp;36,972&nbsp;26,931&nbsp;COGS w/o Depreciation(70,779)(56,300)(169,719)(165,404)Gold Equivalent Ounces sold63,516&nbsp;57,963&nbsp;165,352&nbsp;180,241&nbsp;Cash costs per gold equivalent ounce sold1,114&nbsp;971&nbsp;1,026&nbsp;918&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reconciliation from the consolidated financial statements to all in sustaining costs per gold equivalent ounce sold ($ thousand): &nbsp;For the three months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2023For the nine months ended September 30, 2022Cost of goods sold(84,097)(65,361)(206,691)(192,335)Depreciation13,318&nbsp;9,061&nbsp;36,972&nbsp;26,931&nbsp;COGS w/o Depreciation(70,779)(56,300)(169,719)(165,404)Capex w/o Expansion13,755&nbsp;10,477&nbsp;34,103&nbsp;32,044&nbsp;Site G&amp;A2,760&nbsp;2,185&nbsp;6,530&nbsp;6,523&nbsp;Lease Payments3,985&nbsp;3,565&nbsp;9,636&nbsp;4,014&nbsp;Gold Equivalent Ounces sold63,516&nbsp;57,963&nbsp;165,352&nbsp;180,241&nbsp;All In Sustaining costs per ounce sold1,437&nbsp;1,251&nbsp;1,330&nbsp;1,154&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reconciliation Net Debt ($ thousand): &nbsp;For the three months ended September 30, 2023For the three months ended September 30, 2022For the nine months ended September 30, 2023For the nine months ended September 30, 2022Short Term Loans101,047&nbsp;84,045&nbsp;101,047&nbsp;84,045&nbsp;Long-Term Loans197,714&nbsp;123,731&nbsp;197,714&nbsp;123,731&nbsp;Plus / (Less): Derivative Financial Instrument for Debentures(7,662)(5,537)(7,662)(5,537)Less: Cash and Cash Equivalents(178,989)(120,916)(178,989)(120,916)Less: Restricted cash-&nbsp;(600)-&nbsp;(600)Less: Short term investments-&nbsp;-&nbsp;-&nbsp;-&nbsp;Net Debt112,110&nbsp;80,723&nbsp;112,110&nbsp;80,723&nbsp; Qualified Person Farshid Ghazanfari, P.Geo. Mineral resources and Geology Director for Aura Minerals Inc., has reviewed and approved the scientific and technical information contained within this news release and serves as the Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. 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 statements”) which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the Company’s exploration activities for 2023 and potential results thereof; expected production from, and the further potential of the Company’s properties production levels (including production levels expressed in GEO); cash costs and AISC across its operations; the timing and effect of the Company’s Almas project entering production; the impact of new IFRS accounting standards; the ability of the Company to achieve its longer-term outlook and results thereof; amounts of mineral reserves and mineral resources; and expected capital expenditure and mine production costs. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements if such risks, uncertainties or factors materialize. Specific reference is made to the most recent AIF on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, volatility in the prices of gold, copper and certain other commodities, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. Financial Outlook and Future-Oriented Financial Information To the extent any forward-looking statements in this press release constitute “financial outlooks” within the meaning of applicable Canadian securities legislation, such information is being provided as certain estimated financial metrics and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks. Such information was approved by the Company’s Board of Directors on May 4, 2023. Financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to various risks as set out herein. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, may differ materially from values provided in this press release.For more information, please contact:Investor Relationswww.auraminerals.comContactWith a Reader Account, it's easy to send email directly to the contact for this release. Sign up today for your free Reader Account!Already have an account? Log in here.

Accessibility: Skip TopNavToronto, Ontario, CANADAROAD TOWN, British Virgin Islands, Nov. 06, 2023 (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 September 30, 2023 (“Q3 2023”). 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....

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Aura Announces Q3 2023 Financial and Operational Results and Guidance Update

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