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(Kitco News) - Aura Minerals (TSX: ORA) (OTCQX: ORAAF) reported today that its total production during Q2 2023 reached 48,522 gold equivalent ounces (GEO), down 13% compared to Q2 2022, mainly due to mine sequencing at EPP mines.
At Aranzazu, production was 25,192 GEO, in line with the company’s expectations. The company said that production was 4% lower compared to Q2 2022, due to metal prices.
At EPP, production was 6,917 GEO, 45% lower in Q2 2023 than in Q2 2022, due to mine sequencing in areas with lower grade. With sequencing expected to move to higher-grade areas, the company anticipates production to increase in the second semester, mainly in the last quarter of the year, which also occurred in the previous year.
At San Andres, production was 16,413 GEO. Production remained steady relative to Q2 2022, with a decrease of 2%. Production in GEO increased by 16% when compared to Q1 2023, confirming the company’s expectation of gradual improvement quarter after quarter.
President and CEO Rodrigo Barbosa commented, “Production in Q2 was as expected with mine sequencing at EPP impacting production. Development is advancing well and reaching higher grade areas to improve production in the second semester. Overall, we expect a return to stronger output during the second semester. Looking ahead, we remain on track toward our goal of 450 kGEO annualized by 2025 and look forward to providing updates.”
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 EPP gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico.
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