Le Lézard
Classified in: Mining industry, Business
Subject: EARNINGS

Aura Announces Second Quarter 2022 Financial and Operational Results and 2022 Guidance Update


ROAD TOWN, British Virgin Islands, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) ("Aura" or the "Company") announces that it has filed unaudited consolidated financial statements and management discussion and analysis (together, "Financial and Operational Results") for the period ended June 30, 2022 ("Q2 2022") and 2022 Guidance Update ("Guidance"). The full version of the Financial and Operational Results and the Guidance 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.

Q2 2022 Highlights (Compared to Q2 2021):

Rodrigo Barbosa, CEO of Aura, commented: "Aranzazu and EPP performed above expectations during the first six months of the year and, despite the challenges with metal recoveries at the San Andres mine and when added to an expected higher production during the second half of 2022, Aura expects to meet its initial production guidance. Moreover, we recently announced a semi-annual dividend payment and have returned more than $15 million to our shareholders in the form of dividends and share and BDR buybacks during the first half of 2022. Finally, we have been able to maintain our net cash position, which reinforces our strategy to invest in the growth of the Company while maintaining our low leverage and paying dividends."

Operational And Financial Overview

      
  For the three
months ended
June 30, 2022
For the three
months ended
June 30, 2021
For the six
months ended
June 30, 2022
For the six
months ended
June 30, 2021
 Total Production1 (GEO)55,645 63,020 116,686 129,801 
 Sales2 (GEO)55,655 66,842 121,175 138,117 
 Net Revenue93,384 105,098 205,660 213,098 
 Adjusted EBITDA30,322 42,592 80,534 94,974 
 Cash costs per GEO sold998 854 900 787 
 Ending Cash balance217,938 97,880   
 Net Debt(10,318)(7,062)  
 Recurring Capex(12,060)(17,262)(21,567)(36,880)
      
 1 Considers capitalized production    
 2 Does not consider capitalized production    

Guidance Update

Aura is maintaining its second half and full year 2022 production guidance; however, the Company has narrowed the range to 260,000 to 275,000 oz for 2022 full year, compared to 260,000 and 290,000 oz as expected previously. Factors that contributed to narrowing the range:

The table below details the Company's updated GEO production guidance for 2022 by business unit:

    
  Production ('000 GEO)
2022
  UpdatedPrevious
 Aranzazu115 - 120108 -120
 EPP Mines70 - 75 64 - 71
 San Andrés75 - 8088 - 99
 Total260 - 275260 - 290
    

The table below details the Company's updated for Cash Cost guidance for 2022 by business unit:

  Cash Cost per GEO
2022
  UpdatedPrevious
 Aranzazu645 - 690637 - 704
 EPP Mines955 - 992923 - 992
 San Andrés910 - 980825 - 912
 Total803 - 853771 - 845

Non-GAAP Measures

In this press release, the Company has included Adjusted EBITDA, cash operating costs per gold equivalent ounce sold and net debt which are non-GAAP measures. These non-GAAP measures do not have any standardized meaning within IFRS and therefore may not be comparable to similar measures presented by other companies. The Company believes that these measures provide investors with additional information which is useful in evaluating the Company's performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The below tables provide a reconciliation of the non-GAAP measures presented:

Reconciliation from Income for the Quarter for EBITDA and Adjusted EBITDA:

      
 For the three
months ended
June 30, 2022
For the three
months ended
June 30, 2021
For the six
months ended
June 30, 2022
For the six
months ended
June 30, 2021
 
Profit (loss) from continued operation$ 3,675 $26,034 $ 43,864 $50,694  
Income tax (expense) recovery 7,259  7,869  20,985  17,129  
Deferred income tax (expense) recovery$ 972 $3,041 $ (3,084)$10,030  
Finance costs 9,266  (1,272) (286) 1,382  
Other gains (losses)$ 232 $(1,519)$ 1,075 $(1,131) 
Depreciation 8,918  8,439  17,980  16,870  
EBITDA  30,322  42,592  80,534  94,974  
Impairment -  -  -  -  
ARO Change -  -  -  -  
Adjusted EBITDA$ 30,322 $ 42,592 $ 80,534 $ 94,974  
      
      
Reconciliation from the consolidated financial statements to cash operating costs per gold equivalent ounce sold: 
      
 For the three
months ended
June 30, 2022
For the three
months ended
June 30, 2021
For the six
months ended
June 30, 2022
For the six
months ended
June 30, 2021
 
Cost of goods sold (64,378) (62,361) (126,974) (119,164) 
Depreciation$8,861 $8,400 $17,870 $16,779  
COGS w/o Depreciation (55,517) (53,961) (109,104) (102,385) 
Gold Equivalent Ounces sold(1)$55,655 $63,168 $121,175 $130,079  
Cash costs per gold equivalent ounce sold$ 998 $ 854 $ 900 $ 787  
      
(1) Do not considers pre-commercial production and sale, capitalized  


Reconciliation
Net Debt:

   June 30,
2022
December 31,
2021
 Short Term Loans 60,284  58,169 
 Long-Term Loans$ 155,761 $99,862 
 Plus / (Less): Derivative Financial Instrument  (7,825) 2,779 
 Less: Cash and Cash Equivalents$ (217,938)$(161,490)
 Less: Restricted Cash (600) (944)
 Net Debt  (10,318) (1,624)
     

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 producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.

For further information, please visit Aura's website at www.auraminerals.com or contact:

Rodrigo Barbosa
President & CEO
305-239-9332

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 include, without limitation, expected production from, and the further potential of the Company's properties, anticipated cash costs per GEO produced, the ability of the Company to achieve its short-term and longer-term outlook, and the completion of the acquisition of Big River. 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. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Specific reference is made to the Company's most recent Annual Information Form 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 the ability of the Company to achieve its short-term and longer-term outlook and the anticipated timing and results thereof, the ability to lower costs and increase production, the ability of the Company to successfully achieve business objectives, copper and gold or certain other commodity price volatility, 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.

_____________________

1 Gold equivalent ounces, or GEO, is calculated by converting the production of silver and copper into gold using a ratio of the prices of these metals to that of gold. The prices used to determine the gold equivalent ounces are based on the weighted average price of silver and copper realized from sales at the Aranzazu Complex during the relevant period.



These press releases may also interest you

23 sep 2022
The global telehandler market is fragmented in nature. The market is highly competitive and is dominated by vendors such as  JC Bamford Excavators, Manitou, and Oshkosh. Most of the prominent vendors in the market have their headquarters in Europe....

23 sep 2022
Monument Mining Limited ("Monument" or the "Company") today announced its annual financial results for the year ended June 30, 2022. All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial...

23 sep 2022
Glencore Ltd. (the "Company" or "Glencore") announces that on May 31, 2022, the Company was issued an unsecured convertible note (the "Convertible Note") in an aggregate principal amount of USD$200,000,000 (the "Principal Amount") by Li-Cycle...

23 sep 2022
QNB Metals Inc. ("QNB Metals" or the "Corporation") , today announces that the Corporation and Analog Gold Inc. have mutually agreed to terminate the previously announced letter of intent ("LOI") in accordance with the terms of the LOI. As a result,...

23 sep 2022
The global smart pneumatics market size is expected to grow by USD 1.72 billion, accelerating at a CAGR of 6.48% between 2021 and 2026. The report considers the revenue generated by vendors, investments related to CAPEX from the industrial sector,...

23 sep 2022
The "Activated Carbon Market By Product Type, By Application, By End-use Industry: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to  ResearchAndMarkets.com's offering. The global activated carbon market was...



News published on 10 august 2022 at 06:00 and distributed by: