Aura Minerals reports adjusted EBITDA of $36.6M in Q1, reiterates 2023 guidance AuraMinerals
- Aura Minerals announced on Thursday that in Q1 2023, the company produced 53,265 gold equivalent ounces , a decrease of 9% compared to Q1 2022 when calculated based on constant prices.
During Q1 2023, the company’s all-in sustaining cost was $1,156/GEO, representing an increase of $151/GEO when compared to Q4 2022 mainly due to lower production related to mine sequencing in Aranzazu and EPP. At the end of Q1 2023, the company said that its net debt position achieved $88,854 thousand, an increase vs. $77,422 thousand recorded at the end of Q4 2022, primarily due to expansion capex and annual tax payment in Aranzazu .
President and CEO Rodrigo Barbosa commented, “Despite lower production in Q1 2023 compared to Q4 2022, due to mine sequencing at EPP and Aranzazu, higher metal prices and control of our costs resulted in an EBITDA in line with Q4 2022. Looking ahead, second quarter should also reflect lower grades while we expect improved operating results across all our producing mines during the second half of the year.
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