The following is a summary of the Aura Minerals (ORAAF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Aura Minerals reported a net revenue of $132 million for Q1 2024, marking an increase from previous quarters.

• The Adjusted EBITDA also saw a rise for the third consecutive time, amounting to $53 million.

• The company experienced a high net income loss of $9 million, primarily due to non-cash losses arising from market-to-market derivatives.

• The cash position at the quarter end was $214 million, indicating a strong liquidity status.

Business Progress:

• Aura maintained its robust safety record and observed an increase in production by 28%.

• The all-in sustaining cash cost was reported to be $1,287, undershooting the projected figure for the year.

• The Borborema project is advancing steadily and expected to commence production ramp-up by Q1 2025, and Aura is steadily increasing investments into it.

• Prospect of doubling company reserves is anticipated after the licensing process, already underway.

• Approvals for a share buyback program have been received, scheduled to kick-off post blackout period.

• The company continues to explore potential mergers and acquisitions, aiming to exceed 500,000 ounces of gold equivalent production within next few years.

• Aura sees potential in achieving cost reductions and efficiency improvements by transitioning Almas operation to a new contractor in Q3 and Q4.

• Plans to boost liquidity includes potential listing shift from Canada to the United States.

More details: AURA MINERALS INC (VG) IR

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