Aura Minerals reports lower Q1 2022 gold equivalent production, on track to achieve guidance
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(Kitco News) - Aura Minerals (TSX: ORA) said today that the company achieved total quarterly production of 61,041 gold equivalent ounces ("GEO"), which is 9% lower compared to Q1 2021 (66,782 GEO).
However, the company noted that its Q1 2022 production was in line with management's expectations, with another strong quarter at the company's Aranzazu mine and lower production at the company's EPP and San Andres mines due mine sequencing and preparation for higher production in the next quarters.
Aura also added that its full year production guidance for 2022 of between 260,000 and 290,000 GEO remains unchanged.
President and CEO Rodrigo Barbosa stated, "In 2021, we increased production by 32% and achieved record annual production. In 2022, as expected, we started with lower production once we entered lower grades in EPP and San Andres combined with pit preparation for higher production to be achieved during the second semester of 2022."
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.
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