Aura Minerals is a Canadian-based company focused on the acquisition, exploration, development and operation of gold and base metal projects in the Americas. In June 2009, Aura Minerals entered into an agreement to acquire a 100% interest in three producing gold mines from Yamana Gold Inc. Today, Aura Minerals’ portfolio includes one producing mine, the San Andres Gold Mine located in La Union, Honduras, with the acquisition of the producing Sao Francisco and Sao Vicente Gold Mines, located in north western Brazil, expected to close in the first quarter of 2010 . In total, the Company’s portfolio will contain over 1.8 million ounces of proven and probable gold reserves.
Aura Minerals’ portfolio also includes advanced-stage development and pre-production projects. The wholly owned Aranzazu Project, located in Zacatecas State, Mexico, is the most advanced of these projects and hosts a large copper resource with significant concentrations of gold and silver. The Company plans to restart the Aranzazu Project in 2010, and is focused on a staged expansion to deliver production growth. A significant exploration program will also be conducted to increase the confidence level of the current resource classification and to expand the large resource base.
The feasibility-stage Serrote Deposit at the Arapiraca Project, located in Alagoas State, Brazil, is also in development. The Arapiraca Project hosts a large resource in the main Serrote Deposit, which was the subject of a Preliminary Economic Assessment in 2009. The Preliminary Economic Assessment demonstrated that the Serrote Deposit would provide strong economic returns in an area of excellent infrastructure in Brazil, one of the world's most favourable mining jurisdictions. The Arapiraca Project area has access to infrastructure such as water, power, roads and a rail system, which connects the project to several deep water ports. In addition, Aura Minerals completed all work required for the environmental permit in 2009, and the Company has now been granted an Installation License for the Serrote Deposit; this is the last major permit required, which allows the Company to proceed to the construction stage. In 2010, exploration targets near the Serrote Deposit will also be explored to add to the resources and economics at the Arapiraca Project.
Moving forward, Aura Minerals will continue to engage in strategic activities that demonstrate the Company’s commitment to responsible and sustainable growth. The Company’s focused growth strategy projects annual production of approximately 220,000 ounces of gold, commencing in mid 2010. Aura Minerals’ experienced management team, strong financial position and attractive portfolio of diversified projects will continue to strengthen the Company’s position as a mid-tier gold producer.