Aura Minerals has released the preliminary production outcomes for Q3 2023 from its four operational mines: Aranzazu Mine, Ernesto/Pau-a-Pique Mine (EPP), San Andres Mine, and Almas Mine.
Key Production Metrics
Q3 2023 witnessed a total production of 64,875 gold equivalent ounces (GEO). All active mines reported an upswing in production compared to the previous quarter.
- Overall Production Insights: Production in GEO surged by 34% in Q3 2023 from Q2 2023. Factors attributing to this rise include the kick-off of commercial production at Almas mine and bolstered outputs at Aranzazu, San Andres, and EPP mines. When paralleled with Q3 2022, there’s a 12% hike in production.
- Aranzazu Breakdown: 27,933 GEO was reported, aligning with the company’s projections. This is an 11% boost from Q2 2023, and a 7% rise when juxtaposed with Q3 2022 figures.
- EPP Insights: EPP recorded 11,185 GEO, an impressive 62% leap from Q2 2023. Reasons being the high-grade zone in Ernesto and curtailed utilization of existing stockpiles. However, compared to Q3 2022, there’s a 38% dip.
- San Andres Analysis: This quarter had a production of 17,543 GEO, marking a 7% increment from the last quarter and a third straight quarterly uptick. Q3 2022 saw a 25% increase in production at San Andres.
- Almas Update: Almas generated 8,214 GEO, with just two months of production since it initiated commercial output this quarter, surpassing market expectations. Enhancement plans for the plant’s processing capacity are in motion.
CEO’s Perspective
Rodrigo Barbosa, CEO of Aura Minerals, emphasized the marked surge in production across all units this quarter. The rapid progression at Almas, surpassing industrial benchmarks, was notably highlighted. Alongside robust operations, a Feasibility Study was finalized, funding secured, and construction initiated at Borborema. The company’s target is pegged at achieving an annualized 450,000 Oz by the end of 2025.
