Aura Minerals Inc T.ORA

Aura to stop investing in Gold Road

[Mrtkr1]

Aura Minerals, Inc announces today that its Board of Directors has decided not to continue investing in its indirect wholly owned subsidiary Z79 Resources, Inc. (Z79) and its indirect wholly owned subsidiary Gold Road Mining Corp. (GRMC) to focus on its larger operations and projects. Z79 and GRMC are evaluating strategic alternatives including the potential disposal of the Gold Road mine and related assets. This is a good move to conserve capital on a project that's not really productive. Can't help to think someone knew of this and didn't like the move. That would explain why the shares have taken a hit over the last little while. They got this project for next to nothing so it's not a big deal. Additionally Aura is not responsible for any of the liabilities associated with this project. All in all, this means capital conservation and very little production loss. Thoughts?

[Canadian0620144]

Agree no big deal and a net positive. Gold Road was a big drag on cost per OZ and was losing money last report Gold Road production cost $2,100US oz. I was not a fan of Gold Road high US labour costs. All other Aura mines under $900US oz. Gold Road had operational issues miners didn't want to be vaccinated for COVID and other labour issues, plus they coudn't find enough gold reserves. 

[MustangSalley]

Where did you see this news posted ? I did not see anything on website or stockwatch . Any update on Almas mine construction ? Thanks  MS

[Mrtkr1]

All filings are legally required to be posted on SEDAR. You can go there and look up Aura for all filing. Iv also pasted it below for you: https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00008808

[ExWelder85]

I subscribe to their investor relations. I recieved the news via email. It's also on their site.  Aura, Gold Road News