Aura Declares Dividend of US$0.14 per share to be paid in June 2023
09 Juin 2023 - 1:00PM
Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF)
(“Aura” or the “Company”) announced today that the
Company’s Board of Directors (the “Board”) has declared and
approved the payment of a dividend (the “Dividend”) of US$0.14 per
common share (approximately US$10.1 million in total). In
accordance with the Company’s dividend policy (the “Dividend
Policy”), the Dividend is in respect of and is based on Aura’s
expected financial results for the six months ending June 30, 2023.
Under the Dividend Policy, the Company’s
semi-annual dividend is equal to 20% of its estimated Adjusted
EBITDA1 for the relevant six months less sustaining capital
expenditures and exploration capital expenditures for the same
period. The amount of the Dividend is based on the actual results
for Q1 2023 and the expected results for Q2 2023, including
expected production, cash costs and sustaining and exploration
capex for Q2 2023.
The Dividend will be paid on June 28, 2023, to
shareholders of record as of the close of business on June 21, 2023
(“Record Date”). All shareholders of record will receive the
Dividend in US dollars.
Holders of the Company’s Brazilian Depositary
Receipts as of Record Date are expected to receive payment on or
around July 12, 2023, and will receive the Brazilian Reais
equivalent of the Dividend, based on a market exchange rate to be
disclosed in a future Press Release, in advance of its payment
date.
The Dividend is not subject to withholding taxes
at the time of payment by the Company.
Rodrigo Barbosa, President & CEO commented,
“We are pleased to declare our semi-annual dividend, reaffirming
our dedication to delivering sustainable returns to our
shareholders. 2023 remains a pivotal year in showcasing our ability
to grow while paying dividends, which is an important part of our
overall strategy. We remain focused on advancing our growth
projects including completing Almas on time and with no material
deviation from the project budget and now ramping up toward
commercial production in Q3 and advancing both Borborema and Matupá
towards our production target to achieve 450,000 GEO in annualized
production in 2025.”
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 four producing assets
include the San Andres gold mine in Honduras, the EPP and Almas
gold mines in Brazil and the Aranzazu copper-gold-silver mine in
Mexico. In addition, the Company has the Tolda Fria gold project in
Colombia and four projects in Brazil: the Borborema and Matupá gold
projects, which are in development the São Francisco gold project,
which is on care and maintenance, and the Serra da Estrela copper
project in Brazil, Carajás region, which is at the exploration
stage.
For further information, please visit Aura’s website at
www.auraminerals.com or contact:
Rodrigo Barbosa
President & CEO305-239-9332
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, but are not limited to,
statements with respect to the activities, events or developments
that the Company expects or anticipates will or may occur in the
future, including the expected timing of the Dividend; expected
production levels in Q2 2023 and metal prices received in respect
thereof; the Company’s sustaining capital expenditures and
exploration capital expenditures for Q2 2023; the further potential
of the Company’s properties; and the ability of the Company to
achieve its short and long term outlook and the anticipated timing
and results thereof.
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. 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 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.
All forward-looking statements herein are
qualified by this cautionary statement. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements whether as a result of new information
or future events or otherwise, except as may be required by law. If
the Company does update one or more forward-looking statements, no
inference should be drawn that it will make additional updates with
respect to those or other forward-looking statements.
1 Adjusted EBITDA is a non-GAAP financial measure, is not a
standardized financial measure under IFRS, and may not be
comparable to similar measures disclosed by other issuers. See the
disclosure under the heading “Non-GAAP Performance Measures” in the
Company’s management’s discussion and analysis for the three months
ended on March 31, 2023 (the “Q1 2023 MD&A”), which is
available under the Company’s profile on SEDAR at www.sedar.com.
The reconciliation of Adjusted EBITDA to income in section 17.A of
the Q1 2023 MD&A is incorporated by reference herein.
Aura Minerals (TSX:ORA)
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