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Aura Minerals Inc T.ORA

Alternate Symbol(s):  ORAAF

Aura Minerals Inc. is a mid-tier gold and copper production company. The Company is focused on operating and developing gold and base metal projects in the Americas. It has four operating mines, including the Aranzazu copper-gold-silver mine in Mexico, the Ernesto/Pau-a-Pique Project (EPP) and Almas gold mines in Brazil, and the San Andres gold mine in Honduras. The Company’s development projects include Borborema and Matupa, both in Brazil. It has unmatched exploration potential, owning over 650,000 hectares of mineral rights and focuses on advancing multiple near-mine and regional targets along with the Serra da Estrela copper project in the prolific Carajas region of Brazil. The Company has the right to explore the Pe Quente and Pezao Projects in the State of Mato Grosso, Brazil. The Aranzazu Mine is an underground copper mine that is located within the Municipality of Concepcion del Oro in the State of Zacatecas, Mexico. The San Andres Mine is an open-pit heap leach gold mine.


TSX:ORA - Post by User

Bullboard Posts
Post by sesses3on Oct 18, 2011 5:56pm
222 Views
Post# 19160974

New CEO is announced

New CEO is announcedhttps://auraminerals.com/News-Events/News-Releases/News-Release-Details/2011/James-M-Bannantine-Appointed-President--CEO-of-Aura-Minerals-Inc1126939/default.aspx
They've finally found a new CEO. The press release is a bit odd, since it talks about him having vast experience with both public and private companies, yet doesn't name a single one of them.
So I looked him up and found this biography: https://www.atcapgroup.com/team/bannantine.html -- it's from the smallish private equity firm where he's been managing partner for the last six years (their portfolio looks seriously uninspired, and they haven't updated the news section since 2008, so I'm not sure if they're still active).
Before that he worked ten years for Enron (can see why they left that out) in South America, which at least gives him some experience in Brazil and Honduras, but after they imploded (2001) he seems to have worked exclusively in the tech and private equity sectors.
Frankly looks like an odd choice. Given the huge operational issues at Aura, an experienced mining executive would have seemed like a far better fit than a private equity guy (Aura needs to execute on the projects they already have, not become distracted by some overly ambitious expansion strategy).
Bullboard Posts