Sao Francisco Gold Mine
is 100% owned by Aura and is an open-pit heap leach gold mine located near Aura´s EPP Complex in the southwest of the state of Mato Grosso, Brazil, approximately 560 km west of Cuiaba, the state capital. Mining at São Francisco was suspended in October 2016 due to lack of reserves and high costs.
The Company is conducting an exploration program at São Francisco to determine if a re-start of the mine is feasible. The property contains a sizeable gold resource on the mining and exploration concessions along the Guapuré Gold Belt. Significant cost reduction and synergies from with the EPP Complex are expected.