Mr. Rodrigo Barbosa reports
AURA DECLARES DIVIDEND OF US$0.14 PER SHARE TO BE PAID IN JUNE 2023
Aura Minerals Inc.'s board of directors has declared and approved the payment of a dividend of 14 U.S. cents per common share (approximately $10.1-million (U.S.) in total). In accordance with the company's dividend policy, the dividend is in respect of and is based on Aura's expected financial results for the six months ending June 30, 2023.
Under the dividend policy, the company's semi-annual dividend is equal to 20 per cent of its estimated adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the relevant six months, less sustaining capital expenditures and exploration capital expenditures for the same period. The amount of the dividend is based on the actual results for Q1 2023 and the expected results for Q2 2023, including expected production, cash costs, and sustaining and exploration capex (capital expenditures) for Q2 2023.
The dividend will be paid on June 28, 2023, to shareholders of record as of the close of business on June 21, 2023. All shareholders of record will receive the dividend in United States dollars.
Holders of the company's Brazilian depositary receipts as of record date are expected to receive payment on or around July 12, 2023, and will receive the Brazilian reals 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 and chief executive officer, commented: "We are pleased to declare our semi-annual dividend, reaffirming our dedication to delivering sustainable returns to our shareholders. Two thousand twenty-three remains a pivotal year in showcasing our ability to grow while paying dividends, which is an important part of our overall strategy. We remain focused on advancing our growth projects, including completing Almas on time and with no material deviation from the project budget, and now ramping up toward commercial production in Q3, and advancing both Borborema and Matupa towards our production target to achieve 450,000 GEO [gold equivalent ounces] in annualized production in 2025."
About Aura Minerals Inc.
Aura is focused on mining in complete terms -- thinking holistically about how its business impacts and benefits every one of its stakeholders: the company, its shareholders, its employees, and the countries and communities it serves. Aura calls this 360-degree 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 four producing assets include the San Andres gold mine in Honduras, the EPP and Almas gold mines in Brazil, and the Aranzazu copper-gold-silver mine in Mexico. In addition, the company has the Tolda Fria gold project in Colombia and four projects in Brazil: the Borborema and Matupa gold projects, which are in development, the Sao Francisco gold project, which is on care and maintenance, and the Serra da Estrela copper project in Brazil, Carajas region, which is at the exploration stage.
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