Aura Declares Dividend of US$ 60 Million
March 15 2021 - 06:10PM
Aura Minerals Inc. (TSX: ORA, B3: AURA33)
(“
Aura” or the “
Company”)
announced today that the board of directors of the Company approved
the payment of a dividend (the “
Dividend”) of US$
0.83 per common share (approximately US$ 60 million in total). The
Dividend is in excess of the minimum dividend payable pursuant to
the Company’s dividend policy, as announced June 22, 2020, based on
the Company’s financial results for the year ended December 31,
2020.
The Dividend will be paid on April 6, 2021 to
shareholders of record as of the close of business on March 26,
2021. Shareholders of record whose address on the books of TSX
Trust Company, the Company’s registrar and transfer agent, is in
Canada will receive the Canadian dollar equivalent of the Dividend,
based on the Bank of Canada daily average exchange rate
on the day before the payable date. All other shareholders will
receive the Dividend in US dollars.
Holders of the Company’s Brazilian Depositary
Receipts (“BDRs”) are expected to receive payment
by April 17, 2021. Holders of BDRs will receive the Brazilian Reais
equivalent of the Dividend, based on the exchange rate on the
payment date to BDR holders.
The Dividend is not subject to withholding taxes
at the time of payment by the Company.
Rodrigo Barbosa, President & CEO, comments:
“The Company finished 2020 in a very strong position, with US$ 118
million in cash and negative net debt of US$ 48 million.
Additionally, as previously disclosed, GEO production is expected
to increase during 2021 by 22% to 42%, which should lead to
stronger results in the year ahead. We believe that we are in a
comfortable position to fund development of Almas, our planned
expansions and other greenfield projects such as Matupa and still
have excess capital. Therefore, as we generate high returns from
our internal investments and continue to have a strong balance
sheet, we believe that our shareholders will benefit from such
Dividend at this time.”
Forward-Looking Information
This press release contains “forward-looking
information” and “forward-looking statements”, as defined in
applicable securities laws (collectively, “forward-looking
statements”) which include, but are not limited to,
statements with respect to the activities, events or developments
that the Company expects or anticipates will or may occur in the
future, including the expected timing of the Dividend; expected
production from, and the further potential of, the Company’s
properties; and the ability of the Company to achieve its
longer-term outlook and the anticipated timing and results
thereof.
Known and unknown risks, uncertainties and other
factors, many of which are beyond the Company’s ability to predict
or control, could cause actual results to differ materially from
those contained in the forward-looking statements. Specific
reference is made to the most recent Annual Information Form on
file with certain Canadian provincial securities regulatory
authorities for a discussion of some of the factors underlying
forward-looking statements.
All forward-looking statements herein are
qualified by this cautionary statement. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements whether as a result of new information
or future events or otherwise, except as may be required by law. If
the Company does update one or more forward-looking statements, no
inference should be drawn that it will make additional updates with
respect to those or other forward-looking statements.
Non-GAAP Measures
In this press release, the Company has included
net debt which is a non-GAAP performance measure. Non-GAAP measures
do not have any standardized meaning within IFRS and therefore may
not be comparable to similar measures presented by other companies.
The Company believes that these measures provide investors with
additional information which is useful in evaluating the Company’s
performance and should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with
IFRS. The below tables provide a reconciliation of the non-GAAP
measures presented (in USD 000):
Net Debt:
|
|
December 31, 2020 |
|
December 31, 2019 |
|
Short Term Loans |
|
$
28,485 |
|
$
22,104 |
|
Long-Term Loans |
|
41,941 |
|
20,850 |
|
Less: Cash and Cash Equivalents |
|
(117,778 |
) |
(38,870 |
) |
Less: Restricted cash |
|
(341 |
) |
(230 |
) |
Less: Short term investments |
|
- |
|
- |
|
Net Debt |
|
(47,693 |
) |
3,854 |
|
About Aura 360° Mining
Aura is focused on mining in complete terms –
thinking holistically about how its business impacts and benefits
every one of our stakeholders: our company, our shareholders, our
employees, and the countries and communities we serve. We call this
360° Mining.
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, the Aranzazu copper-gold-silver mine in
Mexico and the Gold Road mine in the United States. In addition,
the Company has two additional gold projects in Brazil, Almas and
Matupá, and one gold project in Colombia, Tolda Fria.
For further information, please visit Aura’s website at
www.auraminerals.com or contact:
Rodrigo Barbosa
President
&
CEO 305-239-9332
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