(Kitco News) - Aura Minerals (TSX: ORA) announced yesterday that its total Q2 2022 production was 55,645 gold equivalent ounces ("GEO"), a decrease of 7% compared to Q2 2021 (59,834 GEO).
The company said that this decrease was primarily due to temporary lower recoveries at San Andres and increased processing of stockpiles at EPP mine, consistent with management's strategy to optimize cash flows.
Aura added that Aranzazu mine continued to achieve strong processing rates, with a maximum processing capacity slightly above 100,000 tons per month.
According to a press-release, the company's production is expected to improve in the coming quarters, particularly at San Andres and EPP as higher-grade zones are accessed.
Importantly, Aura said that construction at the company's Almas project is on schedule and the project is expected to be delivered on budget. The company expects Almas to start production by April 2023.
President and CEO Rodrigo Barbosa noted that the company is on track to meet the production guidance for the year, adding that despite some challenges in San Andres, Aura's other two producing operations performed above expectations.
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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