Latin America-focused Aura Minerals Tops TSX30 List Again

Gold and copper producer Aura Minerals (TSX:ORA,OTC Pink:ARMZF) topped the annual TSX30 list for the second year in a row in mid-September. Canada's senior stock exchange cited the company's share price performance as the primary factor for the accolade, noting that it's risen 683 percent over the last three years.

Additionally, the TSX described all this year’s recipients as having “demonstrated their willingness to innovate their core offering, transform how they operate, and diversify their business for resilience and growth.”

For South America-focused Aura, the award is proof positive in its initial business plan.

“Hitting the first place twice is something that we're very proud of. We're in the exact right direction,” Rodrigo Barbosa, Aura’s CEO and president, said during an interview at Gold Forum Americas in mid-September.

“Although there's still a lot to do in the company, the fact is the strategy that we built four years ago of having easy to operate, easy to build, low-cash-cost mines in multiple jurisdictions — now it's paying off.”

Currently the precious and base metals company has three operating assets, where production has increased from 120,000 ounces annually to 269,000 ounces last year. “But if you include the two greenfield projects that we have, Almas and Matupá, it will be closer to 400,000 ounces by 2024,” he said. “Not including the acquisition that we just announced.”

The news Barbosa was referring to is the acquisition of Australian gold company Big River Gold. The joint venture deal between Aura and Dundee Resources will see Aura hold an 80 percent stake in the Borborema gold project, Big River’s sole asset.

“We were looking for a project that is ready to build, fully permitted and in a country that we already operate in, so Brazil was a natural place for us,” Barbosa said about Borborema, which is located in the country. “We were very glad also that (Dundee), one of the shareholders that has been invested, decided to remain with us in the project.”

Don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.