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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
Comment by sesses3on Feb 29, 2012 6:06am
436 Views
Post# 19602687

RE: I don't get it!!??

RE: I don't get it!!??

You shouldn't be surprised, they said they would do this when they released Q3 results. Given the out of control costs at their mines, it actually makes some sense too. Probably wouldn't take much of a drop in the price of gold for Sao Francisco and Sao Vicente to start bleeding cash (again). Was probably also necessary to get the new expanded credit facility.

 

Quite amazing that Aura is struggling to produce free cash flow at current gold and copper prices, actually, given how much they've spent on acquiring and developing their assets. Doesn't seem to be much hope of an improvement either, and the new CEO so far seems to have changed virtually nothing since he took over.

 

Bullboard Posts