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Aura Minerals shares gained as much as 4% to C$10.85 after reporting resource and reserve updates for its four operating mines and two development projects, growing all categories despite ongoing mine depletion.
Shares traded at C$10.51 in the afternoon session, up nearly 21% over the past 30 trading days having touched C$8.09 and C$11.49 in the past 12 months. In comparison, the VanEck Junior Gold Miners ETF is up 20% while gold rose 6.35% in the same time.The company produced 236,000 oz. of gold-equivalent last year, down 2.7% over 2022, at all-in sustaining costs of $1,324 per ounce. Net revenues have climbed 164% to $417 million since 2018.
Aura says this resulted in a 7% increase in gold equivalent ounces, and a 7% uplift in the net smelter return royalty, effectively compensating the company for 40% of the tonnes depleted at the mine last year.“Another important example of our exploration success is Aranzazu, where we started production in the end 2018 with a five-year LOM, operated for more than five years, increased capacity by 30%, and now have an 8-year LOM,” Barbosa said.
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