Aura Minerals Inc. (TSX: ORA, B3: AURA33) (“Aura” or the “Company”) announced today that the board of directors of the Company (the “Board”) has approved an amendment to its dividend policy (“Dividend Policy”), with the intention of declaring and paying dividends semi-annually.

Under the Dividend Policy, the Company will determine a semi-annual cash dividend in an aggregate amount equal to 20% of its estimated Adjusted EBITDA1 for the relevant six months less sustaining capital expenditures and exploration capital expenditures for the same period.

Dividends are expected to be declared and paid twice a year starting in 2022, based on the results and capital expenditures expected for the applicable six-month period, with a record date on the last month of each such period. As such, any dividend payable under the Dividend Policy will be declared in June and December of each year. The declaration of dividends under the Dividend Policy is subject to the discretion of the Company’s board of directors, having regard to the best interests of the Company and the limitations imposed by the solvency tests contained in the Company’s memorandum of association and articles of association and other requirements of applicable corporate law. Nothing in the Dividend Policy shall restrict the discretion of the Company’s board of directors from authorizing sustaining capital expenditures or exploration capital expenditures that the board of directors deems to be in the best interests of the Company. These expenditures may limit future amounts of dividends payable under the Dividend Policy.

In addition to the amendment to the Dividend Policy, the Board has declared and approved the payment of a dividend (the “Dividend”) of US$0.14 per common share (approximately US$10 million in total). The Dividend is in respect of and is based on Aura’s expected financial results for the six months ending June 30, 2022.

The Dividend will be paid on June 28, 2022 to shareholders of record as of the close of business on June 23, 2022 (“Record Date”). Shareholders of record as of the Record Date 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 market exchange rate available to TSX Trust Company on the day before the payment date, net of fees. All other shareholders of record as of the Record Date will receive the Dividend in US dollars.

Holders of the Company’s Brazilian Depositary Receipts as of Record Date are expected to receive payment by July 7, 2022 and will receive the Brazilian Reais equivalent of the Dividend, based on a market exchange rate to be disclosed in a future press release, in advance of its payment date.

The Dividend is not subject to withholding taxes at the time of payment by the Company.

Rodrigo Barbosa, President & CEO, comments: “I am very proud to announce changes in our dividend policy. Dividends will now be paid twice per year, starting with this first payment in June. Thanks to our high returns project, fast paybacks, on top of strong cash flow from our existing operations, Aura has a unique combination of growth and dividends while maintaining a low leverage. We are on track to produce over 400,000 / Oz by 2024 (50% growth compared with 2021) and, in the meantime, return value to our shareholders through dividends.”

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 levels in Q2 2022 and metal prices received in respect thereof; the Company’s sustaining capital expenditures and exploration capital expenditures for Q2 2022; 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.

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 and the Aranzazu copper-gold-silver mine in Mexico. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, one gold project in Colombia, Tolda Fria and the Gold Road mine in Arizona, United States, currently in care & maintenance.

For further information, please visit Aura’s website at www.auraminerals.com or contact:

Rodrigo BarbosaPresident & CEO305-239-9332

1 Adjusted EBITDA is a non-GAAP financial measure, is not a standardized financial measure under IFRS, and may not be comparable to similar measures disclosed by other issuers. See the disclosure under the heading “Non-GAAP Performance Measures” in the Company’s management’s discussion and analysis for the three months ended March 31, 2022 (the “Q1 2022 MD&A"), which is available under the Company’s profile on SEDAR at www.sedar.com. The reconciliation of Adjusted EBITDA to income in section 17.A of the Q1 MD&A is incorporated by reference herein.

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