ROAD TOWN, March 01, 2021 - Aura Minerals Inc. ("Aura Minerals" or the "Company") announces today the Company has filed its audited consolidated financial statements for the year ended December 31, 2020 and related management discussion and analysis.
Rodrigo Barbosa, CEO of Aura, comments: "On behalf of Aura, I am proud to announce another quarter of exceptional results for the Company. During the fourth quarter of 2020, Aura recorded EBITDA of US$50 million. Equally important, we were able to achieve these results with zero lost time accidents during the fourth quarter of 2020. In the year ended December 31, 2020, EBITDA reached US$119 million, of which US$94 million was generated in the third and fourth quarters. The Company ended 2020 with a solid balance sheet, including US$118 million in cash and negative net debt of US$48 million. We believe our financial position will fully fund our ambitious growth plan, under which management has targeted over 400,000 ounces of annual gold production by 2024, while continuing to generate cash flows from operations."
This press release contains "forward-looking information" and "forward-looking statements", as defined in applicable securities laws (collectively, "forward-looking statements") which include, without limitation, expected production from, and the further potential of the Company's properties, and the ability of the Company to achieve its longer-term outlook and the anticipated timing and results thereof. Known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements if such risks, uncertainties or factors materialize. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation the ability of the Company to achieve its longer-term outlook and the anticipated timing and results thereof, the ability to lower costs and increase production, the ability of the Company to successfully achieve business objectives, copper and gold or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.
In this press release, the Company has included EBITDA and net debt, which are non-GAAP performance measures. These non-GAAP measures do not have any standardized meaning within IFRS and therefore may not be comparable to similar measures presented by other companies. The Company believes that these measures provide investors with additional information which is useful in evaluating the Company's performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The below tables provide a reconciliation of the non-GAAP measures presented:
Reconciliation from income for the quarter to EBITDA and Adjusted EBITDA:
About Aura 360? Mining
Aura is focused on mining in complete terms - thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360? Mining.
Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company's producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil, the Aranzazu copper-gold-silver mine in Mexico and the Gold Road mine in the United States. In addition, the Company has two additional gold projects in Brazil, Almas and Matup?, and one gold project in Colombia, Tolda Fria.
For further information, please visit Aura's website at www.auraminerals.com or contact:
President & CEO