Aura Minerals Announces Q1 2017 Financial and Operating Results

Precious Metals

Aura Minerals Inc. (“Aura Minerals” or the “Company”) (TSX: ORA) announces financial and operating results for the first quarter of 2017. As quoted in the press release: Net sales revenue in the first quarter of 2017 decreased by 2% over the first quarter of 2016; Gold production for the first quarter of 2017 was 11% …

Aura Minerals Inc. (“Aura Minerals” or the “Company”) (TSX: ORA) announces financial and operating results for the first quarter of 2017.
As quoted in the press release:

Net sales revenue in the first quarter of 2017 decreased by 2% over the first quarter of 2016;
Gold production for the first quarter of 2017 was 11% lower than the comparable period of 2016;
Effective January 1, 2017, Lavrinha achieved commercial production. As a result, both revenue and operating costs for Lavrinha are recognized in the condensed interim consolidated statements of loss and comprehensive loss. In addition, the mine development related to Lavrinha is reclassified to property, plant and equipment and depletion commences;
During the first quarter of 2017, cash operating costs per ounce produced1 and cash operating costs per ounce sold1 were 3% and 9%, respectively, higher than the comparable period in 2016 due to the ramp-up of EPP and Sao Francisco ceased mining operations in the fourth quarter of 2016;
All-in costs per ounce sold1 for the first quarter of 2017 was 19% higher than the first quarter of 2016 due to lower gold sales volume, higher cost of production, general and administration expense and capital expenditures;

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