Make Kitco Your Homepage

Aura anticipates 22% to 42% production growth in 2021

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Aura Minerals (TSX: ORA) announced Friday operational and financial guidance for the financial year ending December 31, 2021.

Aura estimates total production volume for the 2021 to be between 250,000 and 290,000 GEO, and that cash cost from operation per equivalent ounce of gold produced for the year ending December 31, 2021 will be within the range of US$728 and US$867.

Earlier, the company reported that total production across Aura’s operations for the year ended December 31, 2020 achieved 204,230 GEO, an increase of 15% compared to the previous year.

Therefore, Aura anticipates 22% to 42% production growth in 2021.

In addition to its production guidance for 2021, the company announced that management has set a production target of 400,000 to 480,000 GEO for the year ending December 31, 2024.

CEO Rodrigo Barbosa commented, “During the past several years, we focused on (i) developing new strategy and asset portfolio, (ii) strengthening our balance sheet, and (iii) building a culture of responsible and high-performance management. As evidenced by our record preliminary 2020 annual production, this focus is paying off. On January 7, 2021, Aura announced record high production of 204,000 GEO for 2020, and we expect to continue to grow again in 2021 with targeted annual production between 250,000 and 290,000 GEO. Moreover, for the medium term, we set a target to more than double annual production, achieving between 400,000 and 480,000 GEO in 2024, based on the combination of our potential brownfield expansion and existing greenfield projects, not including any potential acquisitions.”

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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.