Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
Business

Aura Announces Third Quarter 2022 Production Results, Canadian Business Journal

ROAD TOWN, BRITISH VIRGIN ISLANDS, OCTOBER 11, 2022 (GLOBE NEWSWIRE) — Aura Minerals Co., Ltd. (TSX: ORA) (B3: AURA33) (“aura” or “Company) is pleased to announce production results from our three production operations for the third quarter of 2022.Total production reached 58,175 gold equivalent ounces (“GEO”)1 During Q3 2022.

highlight

  • GEO’s total production increased by 5% calculated based on current prices and increased by 8% at constant prices compared to Q2 2022.
  • Arranzaz concentrate production increased 6% compared to Q2 2022. This is the result of a consistently high production rate of over 100,000 tonnes per month and a quarterly record average of 104,400 tonnes of material processed per month at the plant. GEO production was impacted by lower copper prices in the fourth quarter.
  • At EPP, mining operations focused on Phase II of the Ernesto pit to deliver higher grades. The company expects this will lead to a significant increase in production in the fourth quarter of 2022. In Q3 2022, we will also focus on blending mid/low grade materials to reduce inventories and optimize cash flow. Production slightly exceeded management expectations, reaching nearly 18,000 ounces of gold. Production increased to 8,378 oz in September 2022. Aura expects EPP to have strong production in his fourth quarter of 2022.
  • Production at San Andres fell short of management’s expectations. In July 2022, Aura signed a new contractor for mining operations. This is expected to improve production levels and reduce cash costs in the coming quarters. In Q3 2022, heavy rainfall above the historical average for the quarter and lower productivity levels as a result of negotiations and transitions to new mine contractors negatively impacted production. Aura expects San Andres production levels to increase in his fourth quarter of 2022.

Rodrigo Barbosa, president and CEO of the company, said: Coming into the fourth quarter, it’s especially noticeable in San Andres, where he’s expected to benefit from high-grade EPP and operational efficiency. ”

Production results

Provisional GEO production for the three months ended September 30, 2022 compared to the previous quarter and the same period in 2021 is shown below.

for three people
month ended
September 30

2022
for three people
month ended
June 30th

2022
for three people
month ended
September 30

2021
% Change
versus Q2
2022
% Change
versus Q3
2021
ounces produced (GEO)
san andres 14,065 16,800 17,552 -16% -20%
EPP mine 17,915 12,492 15,191 43% 18%
Arranza’s 26,196 26,352 26,745 -1% -2%
Total GEO Produced Excluding Gold Road – Current Price2 58,175 55,645 59,488 Five% -2%
gold road 2,100
Total GEO Produced – Current Price3 58,175 55,645 61,588 Five% -6%
Total GEOs Produced Excluding Gold Road – Fixed PriceFour,Five 58,175 53,720 56,888 8% 2%

Last 12 months production volume (LTM) exceeded 250,000 GEO at the end of Q3 2022. This excludes production from Gold Road, which ceased operations in Q4 2021. LTM remained stable at a constant price compared to the previous quarter.

The chart below shows quarterly consolidated GEO production measured at current and constant prices since Q3 2020 and LTM at the end of each reporting period.

Consolidated GEO production volume per quarter and LTM

(000 GEO, reported current and constant price)

A summary of the performance of each operating mine for the third quarter of 2022 is provided below.

EPP mine: Production was 18% higher than the same quarter in 2021 and 43% higher than the second quarter of 2022. The grade reached 1.43 g/t Au and focused on Phase II of the Ernesto deposit, providing softer minerals and increasing the material processed by 18%. Comparison with previous quarter.

San Andres: Production was 20% below the same quarter in 2021 and 16% below the second quarter of 2022. This is largely due to new mining contractors and lower mine production due to heavy rains. Mined material is 25% less than Q2 2022. For Q4 2022, our focus is on the Esperanza upper zone.

Aranzaz: Concentrate production was 9% above the same quarter in 2021, 6% above the second quarter of 2022, 18% below the same quarter in 2021 and copper production was 18% below the previous quarter. This has partially offset the decline in sales prices. Copper production was 12% higher than the same quarter in 2021 and 10% higher than the previous quarter. This is a result of higher head grades and improved mine and plant performance.

Additionally, as a result of the 19% drop in copper prices during the period, the company expects to be subject to interim price adjustments under offtake agreements.6 Between Aranzazu and Trafigura México, SA de CV Aura will provide additional discussion and analysis of production and sales for the third quarter of 2022 when it reports its quarterly results on November 8, 2022.

The table below shows the production volume by bullion at Aranzaz. Production of all types of metal increased in Q3 2022 compared to both Q2 2022 and Q3 2021.

for three people
month ended
September 30

2022
for three people
month ended
June 30th

2022
for three people
month ended
September 30

2021
% Change
vs Q2 2022
% Change
vs Q3 2021
gold production (ounces) 6,679 6,464 6,404 3% Four%
silver production (ounces) 112,949 103,104 106,097 Ten% 6%
Copper production (klbs) 8,998 8,201 8,048 Ten% 12%
Total GEO Produced – Current Price7 26,196 26,352 26,745 -1% -2%
Total GEO Produced – Fixed Price8,9 26,196 24,274 23,935 8% 9%

About Aura 360° Mining

Aura is focused on mining in the full sense of the word. In other words, we think holistically about how our business affects and benefits all stakeholders – our company, our shareholders, our employees, the countries and communities we serve. This is called 360° mining.

Aura is a mid-sized gold and copper production company focused on developing and operating gold and base metal projects in the Americas. The Company’s production assets include the San Andrés gold mine in Honduras, the Ernesto/Pahuapique gold mine in Brazil, and the Arranzaz copper-gold-silver mine in Mexico. In addition, we have four additional gold projects in Brazil. Almas is under construction. Borborema and Matupá are in development, São Francisco is care and maintenance and his one gold project in Colombia, Tolda Fria.

For more information, please visit Aura’s website at www.auraminerals.com or contact us at:

Rodrigo Barbosa
President and CEO
305-239-9332

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) as defined under applicable securities laws, which are may include, but is not limited to, descriptions of activities. , events or developments that occur or may occur in the future by the Company. This includes, but is not limited to, production levels, cash costs for the entire operation and the impact of new contractors on mining operations in San Andres. Often, but not always, forward-looking statements are defined as “plans,” “anticipates,” “anticipates,” “budgets,” “intends,” “estimates,” “forecasts,” “intends,” “expect” or “believe” or variations of such words or phrases (including negative variations) or “could” or “could” a particular action, event or outcome , ‘could’, stating ‘could’ or ‘will’ be taken, caused or accomplished.

Many known and unknown risks, uncertainties and other factors are beyond our ability to predict or control and could cause actual results to differ materially from those contained in the forward-looking statements. there is. Please refer specifically to the most recent Annual Information Forms filed with certain Canadian provincial securities regulators to discuss some of the factors underlying forward-looking statements. Changes in bond and equity markets, uncertainties associated with interpreting geological data, increased costs, changes in environmental compliance and environmental laws and regulations, interest and exchange rate fluctuations, general economic conditions, and mineral exploration. and other risks associated with the development industry. Readers are cautioned that the foregoing list of factors is not an exhaustive list of factors that may affect forward-looking statements.

All forward-looking statements made herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. increase. Even if the Company updates one or more forward-looking statements, no inference should be drawn to make additional updates to them or any other forward-looking statement.

1 Gold Equivalent Ounce (GEO) is calculated by converting silver and copper production to gold using the ratio of the price of these metals to the price of gold. The price used to determine the equivalent ounce of gold is based on the weighted average price of silver and copper realized from sales at the Arranza’s Complex during the relevant period.
2 Consider Realized Selling Price
3 Consider Realized Selling Price
Four Consider metal sales prices realized in Q3 2022. Copper price = 3.47/lb.Gold Price = 1,710.32/oz; Silver Price = 19.03/oz
Five Consider the most recent quarterly weighted average sales price applied to the previous quarter
6 Pursuant to the contractual provisions that exist in the offtake agreement between Aranzazu and Trafigura, Trafigura shall, on a monthly basis, purchase copper in effect between (a) the next month’s average market price or (b) the fourth month’s average market price after invoicing. You have the right to choose the selling price of will be issued. Both alternatives are subject to cash adjustments. Trafigura has chosen (b) for the average market price 4 months after the invoice is issued from early 2022.
7 Consider Realized Selling Price
8 Consider metal sales prices realized in Q3 2022. Copper price = 3.47/lb.Gold Price = 1,710.32/oz; Silver Price = 19.03/oz
9 Consider the most recent quarterly weighted average sales price applied to the previous quarter

A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8e1b6e60-818a-4afd-bf0e-9b872cff0c08.


CBJ Newsmaker

Aura Announces Third Quarter 2022 Production Results, Canadian Business Journal

Source link Aura Announces Third Quarter 2022 Production Results, Canadian Business Journal

Related Articles

Back to top button