Aura Minerals Inc. (TSX:ORA) 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 and the Sao Francisco gold mine in Brazil.
On June 23, 2016 the Company completed the acquisition and assumed operational control of the Ernesto/Pau-a-Pique Project (the “Project”) located in the southwest of Mato Grosso state, near Pontes e Lacerda in Brazil. The Company's primary technical focus for the Project restart will be grade control, choice of the proper small-scale selective mining methods, and geotechnical optimization to reduce dilution, improve overall gold recovery and lower cash operating costs at this relatively high grade Project.
Operations at the copper-gold-silver Aranzazu mine in Mexico have been suspended. The Company's core development asset is the copper-gold-iron Serrote da Laje project in Brazil.
Aura Minerals long term strategy is to be a low-cost mid-tier gold and copper producer in the Americas.
The Company’s focus is to unlock its intrinsic value for its shareholders by:
- focusing on the cash flow optimization of its operating gold asset portfolio
- complete the studies on its copper development assets with an aim to restart operations or begin construction when the copper price rebounds
- increasing that portfolio through further focused acquisitions