Aura Minerals (ORA-T) March 2nd 2016 announces that:
Fourth Quarter and Full Year 2015 Financial and Operation Results
The Company will release its fourth quarter and full year 2015 financial and operational results after the close of business on Thursday, March 24, 2016.
Gold Sales Prepayment
The Company also announces that it has entered into a transaction (the "Transaction") with Auramet International LLC ("Auramet"), a subsidiary of Auramet Trading LLC, with respect to a prepayment of gold sales for US$12.325 million. The proceeds of the Transaction will be used for the Company's corporate debt consolidation and working capital.
The Transaction will be repaid in 68 weekly installments of 176.5 ounces of gold commencing on May 3, 2016 and ending on August 15, 2017. The Transaction may be repaid at any time with no prepayment penalties.
The Transaction is guaranteed by the Company's interests in its San Andres and Sao Francisco operating subsidiaries, the Aranzazu mine and the Serrote da Laje project (both currently on full care and maintenance), and secured by a continuing security interest in all of the Company's present and future personal property.
In furtherance of the Transaction, the Company has entered into gold purchase agreements in respect of all of the gold ounces produced at the Company's gold mines. The gold will be sold at market rates for a period of two years from the date of the Transaction.
Ernesto/Pau-a-Pique
On February 26, 2016, the authorization from Brazil's National Defense Council (Conselho de Defesa Nacional) was published in Brazil's Official Gazette. The Company anticipates that final approval for the Ernesto/Pau-a-Pique acquisition will be received shortly from Brazil's National Department of Mineral Production (Departamento Nacional de Propriedade Minerária).
About Aura Minerals Inc.
Aura Minerals is a Canadian mid-tier gold production and copper development company focused on the Americas. The Company's assets include the San Andres producing gold mine in Honduras, the Sao Francisco producing gold mine in Brazil and the copper-gold-silver Aranzazu mine in Mexico (operations temporarily suspended). The Company's development asset is the copper-gold-iron Serrote project in Brazil.
Aura Minerals' experienced management team and diversified portfolio of attractive projects will continue to solidify the Company's position within the industry as a mid-tier gold-copper producer.
For further information, please visit Aura Minerals' web site at www.auraminerals.com.
Aura Minerals Inc.
Tel: (416) 649-1033
Fax: (416) 649-1044
Email: info@auraminerals.com |
