Q1 2024 Aura Minerals Inc Earnings Call Transcript
Key Points
- Aura Minerals Inc (ORAAF) reported a significant increase in production by 28% compared to the previous year.
- The company achieved a 45% increase in EBITDA, indicating strong financial performance.
- Aura Minerals Inc (ORAAF) maintained high safety standards, achieving 15 months without a lost-time incident.
- The company successfully reduced all-in sustaining cash costs to $1,287 per ounce, which is below their guidance.
- Aura Minerals Inc (ORAAF) updated its mineral resources and reserves, now reporting 2.4 million ounces of gold equivalent in reserves, reflecting a robust exploration investment.
- Despite the increase in production and EBITDA, the company noted a decrease in gold and copper prices which could impact future revenues if prices do not recover.
- Aura Minerals Inc (ORAAF) faces risks and uncertainties related to macroeconomic scenarios and industry factors that could materially affect future results.
- The company reported operational challenges with contractors, particularly in transitioning to new contractors which could affect production efficiency.
- Aura Minerals Inc (ORAAF) experienced some non-cash losses related to market-to-market of debt outstanding on gold derivatives, impacting net income.
- There are ongoing challenges and delays in licensing and regulatory approvals for expansion projects which could delay future production increases.
Good morning, ladies and gentlemen. Welcome to first-quarter 2024 earnings call. This conference is being recorded and a replay will be available at the company's website, auraminerals.com/invisiodores. (Operator Instructions) (spoken in Portugese)
Before proceeding, we would like to clarify that any statements that may be made during this conference call regarding the company's business prospects, operational and financial projections and goals are the beliefs and assumptions of Aura's Executive Board and the current information available to the company.
These statements may involve risks and uncertainties as they relate to future events and therefore, depend on circumstances that may or may not occur. Investors should be aware of events related to the macroeconomic scenario, the industry, and other factors that could cause results to differ materially from those expressed in the respective forward-looking statements.
Present at this conference, we have Rodrigo Barbosa, President and CEO; and Kleber Cardoso, CFO. Now I will turn the conference over to Rodrigo Barbosa. You may
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