The following is a summary of the Aura Minerals Inc. (ORAAF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 revenue reached $156 million, with a net revenue of $547 million for the last 12 months.

• Adjusted EBITDA increased to $78 million this quarter, up from $56 million in the previous quarter.

• Despite operational achievements, the company reported a net loss of $12 million for the quarter, mainly due to non-cash losses related to gold net hedges market-to-market.

• Total cash generated by the mines was $113 million in the first 9 months of 2024, covering growth investments of $95 million.

• The company has maintained a strong liquidity position, ending the quarter with $196 million in cash, and net debt remained stable at $144 million.

Business Progress:

• Record high production achieved with 270,000 gold equivalent ounces annually, marking the fifth consecutive quarter of production increase.

• Continued successful operational management resulting in higher gold production and lower costs.

• Major operational achievements include the construction of Borborema, which is 54% complete and scheduled for ramp up in Q1 2025.

• The company expanded its operations by entering the acquisition process of a project in Guatemala, aiming to grow through strategic acquisitions and exploration.

Opportunities:

• The significant rise in gold prices, currently above $2,700, offering a strong potential for higher revenue and cash generation from operations in Q4 and the next year.

• Expansion projects like Borborema coming online are expected to further increase production capacity and improve financial performance.

Risks:

• The quarterly production was capped slightly below 70,000 ounces due to the variability in gold prices affecting gold equivalent calculations.

• Operational challenges such as delays at Apoena because of a switch to areas with lower grade and recovery.

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