ROAD TOWN,
Total production for 2023 reached 235,856 GEO at current prices, within the range of the Q3 2023 MD&A Consolidated Production Guidance of between 231,000 – 253,000 GEO for 2023.
Q4 2023 Highlights
- At Aranzazu, production was 26,532 GEO. Production was 2% lower compared to Q3 2023 and 1% above Q4 2022 at constant prices, due to mine sequencing and in line with the Company’s Guidance.
- At Apoena (EPP), production was 15,217 GEO, 36% higher in Q4 2023 compared to the previous quarter as the high-grade Ernesto pit was accessed and a lower volume of existing low-grade stockpiles were processed. Despite this increase, production was still influenced by the adverse impact of rains during Q3 2023. Aura anticipates mining to continue in Ernesto during Q1 2024 with improving production rates. Compared to Q4 2022, production decreased 43% when record production was achieved as a result of the beginning of accessing phase II in the Ernesto pit.
- At Minosa (
San Andres ), production was 17,854 GEO for the quarter, representing a 2% increase compared to the previous quarter and an increase of 47% over Q4 2022. This represents the fourth quarterly increase in production in a row, due to the higher stacked tonnage resulting from the upgrade in the stacking system in Q3 2023. - At Almas, production was 9,591 GEO, representing the first full quarter of production. Despite the lower volume than expected in the quarter, mine performance improved by 93% between October and December, with 584 thousand tons moved in October, 731 thousand tons in November and 1,128 thousand tons in December, achieving stable performance levels as expected in 2024.
Since commencing commercial production inAugust 2023 , results have exceeded market benchmarks. Furthermore, upgrades in infrastructure are underway to increase the plant processing capacity for the upcoming quarters.
Production Results
Preliminary GEO23 production volume for the three months ended
Q4 2023 | Q3 2023 | Q4 2022 | % change vs. Q3 2023 | % change vs. Q4 2022 | |
Ounces produced (GEO1) | |||||
Aranzazu | 26,532 | 27,933 | 28,591 | -5% | -7% |
Apoenda (EPP) Mines | 15,217 | 11,185 | 26,901 | 36% | -43% |
Minosa ( | 17,854 | 17,543 | 12,171 | 2% | 47% |
Almas | 9,591 | 8,214 | N/A | 17% | N/A |
Total GEO produced - current prices | 69,194 | 64,875 | 67,663 | 7% | 2% |
Total GEO produced - constant prices | 69,194 | 63,921 | 65,376 | 8% | 6% |
[1] Includes ounces produced and which were capitalized for projects at pre-commercial production stages. | |||||
Production for the last twelve months (“LTM”) as of
Consolidated GEO Production per Quarter and LTM
(000’s GEO, current and constant prices as reported)
The table below shows production by each type of metal at Aranzazu. Production was in line with the Company’s expectations and stable at constant metal prices.
Q4 2023 | Q3 2023 | Q4 2022 | % change vs. Q3 2023 | % change vs. Q4 2022 | |
Gold Production (oz) | 7,061 | 7,433 | 6,898 | -5% | 2% |
Silver Production (oz) | 130,370 | 137,000 | 135,708 | -5% | -4% |
Copper Production (klbs) | 9,606 | 9,631 | 9,563 | -0% | 0% |
Total GEO produced - current prices | 26,532 | 27,933 | 28,591 | -5% | -7% |
Total GEO produced - constant prices | 26,532 | 26,979 | 26,304 | -2% | 1% |
Qualified Person
The scientific and technical information contained within this news release has been reviewed and approved by
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 operating and developing gold and base metal projects in the
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. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.
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.
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
2 The total may not add due to rounding.
3 Applies the metal sale prices in Aranzazu realized during Q4 2023 to the previous quarters in all operations, being: Copper price =
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Consolidated GEO Production per Quarter and LTM
000’s GEO, current and constant prices as reported
2024 GlobeNewswire, Inc., source