Latest news with #AuraMinerals
Associated Press
3 days ago
- Business
- Associated Press
Aura Announces Public Filing of Registration Statement for Proposed U.S. Public Offering
ROAD TOWN, British Virgin Islands, June 06, 2025 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) ('Aura' or the 'Company') announces that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the 'SEC') relating to a proposed public offering of its securities in the United States. The proposed public offering includes the registration and listing of our common shares in the United States. The public offering is expected to commence after the SEC completes its review processes, subject to market and other conditions. The number of common shares to be sold and the price range for the proposed offering have not yet been determined. There will be no pre-emptive right for our shareholders and our Brazilian Depositary Receipts holders in connection with the public offering. Aura has applied to list its common shares on the Nasdaq Global Select Market under the symbol 'AUGO.' The U.S. listing is part of Aura's strategy to unlock value for our shareholders, improve stock liquidity and consolidate the liquidity in the U.S. equity market. BofA Securities and Goldman Sachs & Co. LLC are acting as Global Coordinators, BTG Pactual and Itaú BBA are acting as Joint Bookrunners and Bradesco BBI, National Bank of Canada Financial Markets, RBC Capital Markets and Scotiabank are acting as Co-Managers of the offering. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from BofA Securities, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department. A registration statement relating to this offering has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication to the market shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering will not be carried out by any means that would constitute a public offering in Brazil under Law No. 6,385, dated December 7, 1976, as amended, and under Brazilian Securities Commission ('CVM') Resolution ( Resolução ) No. 160, dated July 13, 2022, as amended ('CVM Resolution 160'). The offering has not been and will not be registered with the CVM in Brazil. The common shares may not be offered or sold in Brazil except in circumstances which do not constitute a public offering for distribution under Brazilian securities laws and regulations. Caution Regarding Forward-Looking Information and Statements This press release includes certain statements and information that may constitute 'forward-looking information' within the meaning of applicable Canadian securities laws and/or 'forward-looking statements' within the meaning of applicable United States securities laws (collectively, 'forward-looking statements'). Forward-looking statements relate to future events or future performance and reflect the Company's current estimates, predictions, expectations or beliefs regarding future events and include, without limitation, statements with respect to: statements relating to the public offering of the Company's common shares; the expected timing of the public offering; the registration and listing of the Company's common shares in the United States; the registration statement becoming effective; the SEC's review process; the sizing and pricing of the offering; the means by which the offering will be made; and the Company's business strategies. Often, but not always, forward-looking statements may be identified by the use of words such as 'expects', 'anticipates', 'plans', 'projects', 'estimates', 'assumes', 'intends', 'strategy', 'goals', 'objectives' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements in this press release are based upon, without limitation, the following estimates and assumptions: the Company carrying out its public offering; the Company successfully completing the SEC review process; obtaining requisite regulatory approvals; and general business, economic and market conditions. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Important factors that may cause actual results to vary, include, without limitation, that the Company may not carry out its public offering or complete the SEC review process. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information, except in accordance with applicable securities laws. Investor Relations [email protected]
Yahoo
7 days ago
- Business
- Yahoo
AngloGold Ashanti to sell Brazilian Serra Grande mine for $76m plus royalties
AngloGold Ashanti has reached an agreement to sell its stake in the Mineração Serra Grande mine in Goiás, Brazil, to Aura Minerals. The $76m (R1.36bn) cash deal includes additional deferred consideration payments tied to a 3% net smelter return on the mine's mineral resources. The transaction is expected to close in the third quarter of 2025 (Q3 2025), subject to regulatory approvals and the completion of certain pre-closing obligations. The Mineração Serra Grande mine, located near the city of Crixás, operates three mechanised underground mines and an open pit. Its metallurgical plant has an annual capacity of 1.5 million tonnes (mt). Despite recent efforts to stabilise operations, including the near-completion of decommissioning at its legacy tailings storage facility, the mine remains one of AngloGold Ashanti's higher-cost and smallest operations in terms of production. As part of the sale, certain subsidiaries holding non-operational assets will be spun off and retained by AngloGold Ashanti. These subsidiaries currently fall under Mineração Serra Grande operations but will be transferred out prior to the sale's completion. The deal is contingent on several conditions including antitrust approval from Brazilian authorities, the completion of the tailings storage facility decommissioning and the transfer of the aforementioned subsidiaries. AngloGold Ashanti CEO Alberto Calderon said: 'This sale ensures we further sharpen our focus on capital allocation, operating efficiencies and the optimisation of our portfolio. 'We have also worked hard to ensure that MSG and its excellent team joins an established company which will continue to be responsible stewards of this asset for the benefit of all stakeholders.' In related news, AngloGold Ashanti and Gold Fields have paused discussions on a potential joint venture (JV) that would have seen the operators combine their Iduapriem and Tarkwa mines in Ghana. This decision allows both companies to focus on improving the stand-alone performances of their respective mines. Since the JV proposition in March 2023, AngloGold Ashanti has identified valuable opportunities within its Iduapriem mine plan. "AngloGold Ashanti to sell Brazilian Serra Grande mine for $76m plus royalties" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
National Post
02-06-2025
- Business
- National Post
AngloGold Ashanti Agrees to the Sale of the Mineração Serra Grande Mine
Article content LONDON & DENVER & JOHANNESBURG — AngloGold Ashanti plc ('AngloGold Ashanti', 'AGA' or the 'Company') has agreed to sell its interest in Mineração Serra Grande mine ('MSG') located in the state of Goiás, Brazil, to Aura Minerals Inc. ('Aura'). Article content Article content The Company will sell Mineração Serra Grande S.A. ('Sale'), which owns MSG to a Brazilian incorporated affiliate of Aura ('Purchaser') for the following consideration: Article content A cash consideration of $76 million on closing subject to certain working capital adjustments as at the closing date; and Deferred Consideration Payments equivalent to a 3% net smelter returns participation over the current Mineral Resource of MSG inclusive of the Mineral Reserve – these Deferred Consideration Payments will be paid quarterly in cash. Article content The recent focus at MSG has been on stabilizing the operations including the decommissioning of the legacy tailings storage facility ('TSF Decharacterization') which is nearing completion. However, MSG remains one of AGA's higher cost and its smallest operation by production. Article content 'This sale ensures we further sharpen our focus on capital allocation, operating efficiencies and the optimization of our portfolio,' said AngloGold Ashanti CEO Alberto Calderon. 'We've also worked hard to ensure that MSG and its excellent team joins an established company which will continue to be responsible stewards of this asset for the benefit of all stakeholders.' Article content The Sale excludes certain subsidiaries of Mineração Serra Grande S.A which hold assets that do not form part of MSG's mining operations and include properties. These will remain in the AGA group and will be transferred from under Mineração Serra Grande S.A. by means of a spin-off prior to closing ('MSG Subsidiaries Transfer'). Article content The Disposal is subject to the fulfilment of the following conditions: Article content i. Anti-trust approval from the Brazilian authorities (CADE); ii. The completion of the TSF Decharacterization work; iii. The completion of the MSG Subsidiaries Transfer; and iv. No Material Adverse Event occurring prior to closing. Article content It is expected that all the conditions will be fulfilled, and the Sale is expected to close during Q3 2025. Article content ABOUT MSG Article content MSG is located in the northwest of the state of Goiás, central Brazil about 5km from the city of Crixás. The MSG operation comprises three mechanised underground mines and an open pit, with one dedicated metallurgical plant with an annual capacity of 1.5 Mt. Article content As at 31 December 2024, MSG has an exclusive Measured & Indicated Mineral Resource of 1.08 Moz at an average grade of 3.14 g/t, an exclusive Inferred Mineral Resource of 1.41 Moz at an average grade of 3.39 g/t and Proven & Probable Mineral Reserve of 0.37 Moz at an average grade of 2.72 g/t. In 2024, MSG produced 80 koz of gold (2023: 86 koz). Article content ABOUT AURA Article content Aura is incorporated in the British Virgin Islands and is listed on the Toronto Stock Exchange and the Brazil Stock Exchange (B3). Aura is a high growth mid-tier gold and copper producer operating five mines across the Americas: a copper-gold-silver mine in Mexico, three gold mines in Brazil, and a gold mine in Honduras. In addition, Aura holds two development projects in Brazil and recently acquired a gold development asset in Guatemala. Article content Forward-looking statements Article content Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital expenditures, the consequences of the COVID-19 pandemic and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti's financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as 'believe', 'expect', 'aim', 'anticipate', 'intend', 'foresee', 'forecast', 'predict', 'project', 'estimate', 'likely', 'may', 'might', 'could', 'should', 'would', 'seek', 'plan', 'scheduled', 'possible', 'continue', 'potential', 'outlook', 'target' or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti's future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. Article content Article content Article content Article content Article content
Yahoo
12-04-2025
- Business
- Yahoo
Aura Minerals Inc.'s (TSE:ORA) largest shareholders are private companies who were rewarded as market cap surged CA$176m last week
Significant control over Aura Minerals by private companies implies that the general public has more power to influence management and governance-related decisions 54% of the company is held by a single shareholder (Bergnol Holding Ltd) Insiders have sold recently We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. To get a sense of who is truly in control of Aura Minerals Inc. (TSE:ORA), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 54% to be precise, is private companies. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). As a result, private companies collectively scored the highest last week as the company hit CA$1.9b market cap following a 10% gain in the stock. In the chart below, we zoom in on the different ownership groups of Aura Minerals. Check out our latest analysis for Aura Minerals Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. Aura Minerals already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Aura Minerals, (below). Of course, keep in mind that there are other factors to consider, too. It would appear that 5.2% of Aura Minerals shares are controlled by hedge funds. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. The company's largest shareholder is Bergnol Holding Ltd, with ownership of 54%. With such a huge stake in the ownership, we infer that they have significant control of the future of the company. For context, the second largest shareholder holds about 5.2% of the shares outstanding, followed by an ownership of 3.2% by the third-largest shareholder. In addition, we found that Rodrigo Barbosa, the CEO has 1.1% of the shares allocated to their name. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our most recent data indicates that insiders own some shares in Aura Minerals Inc.. This is a big company, so it is good to see this level of alignment. Insiders own CA$103m worth of shares (at current prices). It is good to see this level of investment by insiders. You can check here to see if those insiders have been buying recently. With a 23% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Aura Minerals. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. We can see that Private Companies own 54%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 3 warning signs with Aura Minerals (at least 1 which is significant) , and understanding them should be part of your investment process. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future . NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
30-01-2025
- Business
- Yahoo
Investing in Aura Minerals (TSE:ORA) five years ago would have delivered you a 822% gain
Long term investing can be life changing when you buy and hold the truly great businesses. While not every stock performs well, when investors win, they can win big. Just think about the savvy investors who held Aura Minerals Inc. (TSE:ORA) shares for the last five years, while they gained 604%. This just goes to show the value creation that some businesses can achieve. In the last week the share price is up 2.2%. It really delights us to see such great share price performance for investors. So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress. See our latest analysis for Aura Minerals While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. Aura Minerals' earnings per share are down 20% per year, despite strong share price performance over five years. This means it's unlikely the market is judging the company based on earnings growth. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics. There's no sign of growing dividends, which might have explained the resilient share price. But it's reasonably likely that the 14% annual compound revenue growth is considered evidence that Aura Minerals has plenty of growth ahead of it. In that case, the company may be sacrificing current earnings per share to drive growth. The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers). Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time. It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Aura Minerals' TSR for the last 5 years was 822%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence! It's nice to see that Aura Minerals shareholders have received a total shareholder return of 121% over the last year. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 56% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 3 warning signs with Aura Minerals , and understanding them should be part of your investment process. If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Canadian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
