December 01, 2021

Post in News by Gabriel Catalani

ROAD TOWN, British Virgin Islands, December 1, 2021 — Aura Minerals Inc. (TSX: ORA, B3: AURA33) (“Aura” or the “Company”) announced today that the board of directors of the Company (the “Board”) has declared and approved the payment of a dividend (the “Dividend”) of US$0.35 per common share (approximately US$25.4 million in total). The Dividend is in respect of, and is based on Aura’s expected financial results for, the year ending December 31, 2021. In light of the Company’s financial position and strong liquidity (with cash and cash equivalents of approximately US$165 million as at September 30, 2021) and based on the Board’s assessment of the best interests of the Company and its shareholders, the Board has determined to accelerate payment of the dividend in respect of the year ending December 31, 2021, which under the Company’s dividend policy would normally be paid in Q2 2022.

Under the Company’s dividend policy, the Company’s annual dividend is based on 20% of its annual Adjusted EBITDA[1] less sustaining capital expenditures and exploration capital expenditures. The amount of the Dividend is based on the actual results for the first nine months of the year and the expected results for Q4 2021, including expected production, cash costs and sustaining and exploration capex for Q4 2021, all of which are in line with the Company’s latest guidance. For Q4 2021, the Company assumed metal prices consistent with the previous guidance included in its Q3 2021 MD&A[2].

The Dividend will be paid on December 15, 2021 to shareholders of record as of the close of business on December 9, 2021 (“Record Date”). Shareholders of record whose address on the books of TSX Trust Company, the Company’s registrar and transfer agent, is in Canada will receive the Canadian dollar equivalent of the Dividend, based on the market exchange rate available to TSX Trust Company on the day before the payment date, net of fees. All other shareholders will receive the Dividend in US dollars.

Holders of the Company’s Brazilian Depositary Receipts as of Record Date are expected to receive payment by December 23, 2021 and will receive the Brazilian Reais equivalent of the Dividend, based on a market exchange rate to be disclosed in a future press release, in advance of its payment date.

The Dividend is not subject to withholding taxes at the time of payment by the Company.

Rodrigo Barbosa, President & CEO, comments: “Aura continues to generate strong cash flows and we are proud to return part of it to our shareholders. We have distributed US$ 60 million in April this year and will distribute US$ 25 million in December, totaling US$ 85 million during the year and generating a dividend yield of about 13.5% for those who invested on our last follow-on at R$ 48.50 share in November 2020. We reaffirm our commitment to keep a strong dividend policy while growing our production base to close to 30% in 2021 and maintaining a healthy balance sheet and cash generation to move forward with our growth projects in the upcoming years.”

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which include, but are not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the expected timing of the Dividend; expected production levels in Q4 2021 and in 2021 and metal prices received in respect thereof; the Company’s sustaining capital expenditures and exploration capital expenditures for Q4 2021; 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. 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.

All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

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 and the Aranzazu copper-gold-silver mine in Mexico. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, one gold project in Colombia, Tolda Fria and the Gold Road mine in Arizona, United States, currently in care & maintenance.

For further information, please visit Aura’s website at or contact:

Rodrigo Barbosa
President & CEO

[1] Adjusted EBITDA is a non-GAAP financial measure. See the disclosure under the heading “Non-GAAP Performance Measures” in the Company’s management’s discussion and analysis for the three and nine months ended September 30, 2021 (the “Q3 2021 MD&A”), which is available on SEDAR at The reconciliation of Adjusted EBITDA to income in section 17.A. of the Q3 2021 MD&A is incorporated by reference herein.

[2] Gold: US$1,800/ounce; silver: US$24/ounce; copper: US$4.39/pound