Aura Minerals reports Q3 results; narrows FY22 guidance and issues new long-term guidance

Nov. 09, 2022 4:56 AM ETAura Minerals Inc. (ORAAF), ORA:CABy: Meghavi Singh, SA News Editor

Aura Minerals Inc. press release (OTCQX:ORAAF): Q3 Revenue of $81.19M (-16.4% Y/Y) misses by $13.94M.
Consolidated quarterly production of 58,175 gold equivalent ounces (“GEO¹”) in Q3 2022, an increase of 8% vs. Q2 2022 at constant metal prices; consolidated production for the first nine months of 2022 was 174,861 GEO.
Adjusted EBITDA in Q3 2022 was $16.7M, negatively impacted by lower metal prices and Aranzazu Q3 Offtake Price Adjustments.
As expected, production continues to ramp-up and management expects a stronger Q4 2022 with 70,000 to 75,000 GEO; consolidated production was approximately 22.6k GEO in September 2022 and approximately 23k GEO in October 2022.
Full year 2022 production guidance has been revised to between 245,000 and 250,000 GEO, compared to 260,000 and 275,000 oz as expected previously.
Aura is announcing new long-term guidance to 2025, when it expects to produce more than 450,000 annualized GEO, representing an increase of more than 67% vs. its 2021 production.
"Now, we not only aim to produce over 400,000 GEO annualized by 2024 but to reach over 450,000 GEO annualized by 2025, all of it while paying dividends and under the highest ESG standards which we call Aura 360."