ROAD TOWN,
1 Gold equivalent ounces, or GEO, is calculated by converting the production of silver, copper and gold 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 gold, silver and copper realized from sales at the
Highlights
- Total production in GEO increased 16% in Q4 2022 compared to Q3 2022, when calculated based on current prices. Based on constant prices, production in Q4 2022 was 5% lower than in Q4 2021, when Aura recorded its highest quarterly production in its history.
- At EPP, production in GEO increased by 50% compared to Q3 2022 and by 56% compared to Q4 2021 as operations accessed phase II of the Ernesto pit, resulting in higher grades. This was the highest quarterly production at EPP in the history of the Company.
- At Aranzazu, production in GEO increased by 9% relative to Q3 2022 as a result of high tonnage processed (> 99k tons per month) and increase in gold and copper grades due to mine sequencing.
- At
San Andres production in GEO was 13% lower than in the previous quarter. Lower production in Q4 2022 was due to longer than expected leaching cycle during the quarter; however, ore mined increased 44% compared to the previous quarter.- Due to the leaching cycle, an estimated additional 1,600 Oz were produced and not sold during the quarter and are in the circuit by year end and expected to be recovered and sold in early 2023. Therefore, production at
San Andres is expected to increase in Q1 2023 once the leaching process of the ore fed during Q4 2022 is completed and gold is recovered at the mill.
- Due to the leaching cycle, an estimated additional 1,600 Oz were produced and not sold during the quarter and are in the circuit by year end and expected to be recovered and sold in early 2023. Therefore, production at
Production Results
Preliminary GEO production volume for the three months ended
For the three months ended 2022 | For the three months ended 2022 | For the three months ended 2021 | % change vs. Q3 2022 | % change vs. Q4 2021 | |
Ounces produced (GEO1) | |||||
12,171 | 14,065 | 26,652 | -13% | -54% | |
EPP Mines | 26,901 | 17,915 | 17,274 | 50% | 56% |
Aranzazu | 28,591 | 26,196 | 32,901 | 9% | -13% |
Total GEO produced excluding | 67,663 | 58,175 | 76,827 | 16% | -12% |
- | - | 767 | - | - | |
Total GEO produced - current prices¹ | 67,663 | 58,175 | 77,594 | 16% | -13% |
Total GEO produced excluding | 67,663 | 58,648 | 71,314 | 15% | -5% |
1 Total may not add due to rounding.
2 Considers metal sale prices realized on Q4’2022, being: Copper price = 3.68/lb; Gold Price = 1,756.98/oz;
Production for the last twelve months (LTM) exceeded 242,000 GEO at the end of Q4 2022. When measured at constant prices, LTM production has remained between 240,000 GEO and 260,000 GEO since Q3 2021; Aura expects production to increase after Almas enters production by Q2 2023.
The chart below shows the quarterly consolidated GEO production measured in current and constant prices since Q1 2021, as well as the LTM at the end of each reporting period:
Consolidated GEO Production per Quarter and LTM
(000 GEO, current and constant prices as reported)
The table below shows production by each type of metal at Aranzazu. Production increased for all three metals during Q4 2022 compared to Q3 2022:
For the three months ended 2022 | For the three months ended 2022 | For the three months ended 2021 | % change vs. Q3 2022 | % change vs. Q4 2021 | |
Gold Production (oz) | 6,898 | 6,679 | 7,445 | 3% | -7% |
Silver Production (oz) | 135,708 | 112,949 | 123,490 | 20% | 10% |
Copper Production (klbs) | 9,563 | 8,869 | 8,784 | 8% | 9% |
Total GEO produced - current prices1 | 28,591 | 26,196 | 32,901 | 9% | -13% |
Total GEO produced - constant prices12 | 28,591 | 26,669 | 27,388 | 7% | 4% |
1 Total may not add due to rounding.
2 Considers metal sale prices realized on Q4’2022, being: Copper price = 3.68/lb; Gold Price = 1,756.98/oz;
Qualified Person
Tiãozito
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
For further information, please visit Aura’s website at www.auraminerals.com or contact:
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 may include, but is 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, without limitation, production levels, cash costs across its operations, the timing and effect of the Company’s Almas project entering production, and the timing and effect of completion of the leaching cycle at
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. 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, volatility in the prices of gold, copper and certain other commodities, 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea2a64c8-df8a-4daf-bd3e-4cc4ef4251a2
Figure 1
Consolidated GEO Production per Quarter and LTM
2023 GlobeNewswire, Inc., source