Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Musk officially steps down from DOGE after wrapping...
HHS slams ‘under-tested’ mRNA technology as Trump cuts...
State Department says it will ‘aggressively’ revoke visas...
SEN. JEANNE SHAHEEN: If Trump wants a Ukraine...
Trump’s drastic NSC cuts spark debate: Does fighting...
GOP rails against ‘blatantly false’ Dem claims about...
SCOOP: GOP push for new House committee to...
Elon Musk criticism of Trump tax bill frustrates...
What’s next for DOGE after Elon Musk’s departure?...
Hamas faces ‘legitimacy crisis’ as desperate Gazans flock...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Aura Minerals Delays Construction at Matupá Gold Project to Maximize Potential

by admin August 28, 2024
August 28, 2024
Aura Minerals Delays Construction at Matupá Gold Project to Maximize Potential

Aura Minerals (TSX:ORA,OTCQX:ORAAF) announced plans to delay the start of construction at its Matupá gold project in Brazil after acquiring the right to explorethe Pezão and Pé Quente projects in mid-May.

The company said it is revising its strategy in order to maximize the region’s geological potential. In addition to its plans for Pezão and Pé Quente, Aura is conducting ongoing exploration at the Serrinhas and X2 targets.

Pezão and Pé Quente cover six mineral rights and span over 28,000 hectares in the Alta Floresta gold province. The company said in its mid-May announcement that it was planning to invest US$1.6 million over 12 months to complete 13,000 meters of drilling at the assets. Its goal is to further assess mineralization continuity and grades.

Historical data from the Pezão and Pé Quente sites suggests they contain gold mineralization, though Aura notes that these figures have not yet been confirmed through modern exploration techniques.

With the delay in construction at Matupá, Aura is withdrawing its projection that it will be able to produce 450,000 gold equivalent ounces annually by the end of 2025. However, it expects to exceed that level in the coming years.

CEO Rodrigo Barbosa explained in a press release that the decision to postpone construction reflects the company’s commitment to optimizing its capital investments in favor of shareholder benefits.

‘The decision to postpone the Matupá construction reflects our strategy of maximizing the returns on the invested capital. We recognize the significant geological potential of the region, which could substantially increase returns of the Project to our shareholders,” he stated in the company’s Monday (August 26) announcement.

In the meantime, Aura remains focused on increasing productivity across its existing operations.

The company noted that it has already made strides in expanding the production capacity of its Brazil-based Almas gold mine, where it commenced operations in August 2023. Almas’ initial capacity of 1.3 million metric tons per year is expected to increase to 1.8 million metric tons by 2025. It currently stands at 1.5 million metric tons.

Aura is also advancing construction of the Borborema gold project, with output set to begin in early 2025.

Currently the company operates four mines across the Americas. In addition to Almas, it holds the Aranzazu copper-gold-silver mine in Mexico, the Minosa (San Andres) gold mine in Honduras and the Apoena (EPP) gold mine in Brazil.

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

This post appeared first on investingnews.com

previous post
13 Canadian Crypto ETFs (Updated 2024)
next post
Artemis Gold Ordered to Dismantle Unauthorized Worker Camp at Blackwater Project

You may also like

Exploration Agreement with English River First Nation Signed...

August 24, 2024

Red Metal Resources Announces Grant of Stock Options

October 3, 2024

Coniagas Battery Metals Completes Private Placement

October 1, 2024

Cannabis Round-Up: Banking Reform and Rescheduling De-Prioritized as...

February 5, 2025

WGC: Gold ETFs Notch Best Performance Since April...

August 14, 2024

Bitcoin Well Enables Lightning Network to Sell Bitcoin...

April 10, 2025

Tech 5: Bitcoin Drops Below US$100,000, Micron Guidance...

December 22, 2024

Adisyn Ltd (ASX: AI1) – Reinstatement to Quotation

October 23, 2024

JZR Gold Announces Private Placement Offering Of Units...

September 28, 2024

Top 4 Largest Lithium Reserves by Country

March 7, 2025

Recent Posts

  • Musk officially steps down from DOGE after wrapping work streamlining government
  • HHS slams ‘under-tested’ mRNA technology as Trump cuts Moderna’s vaccine funding
  • State Department says it will ‘aggressively’ revoke visas for Chinese students
  • SEN. JEANNE SHAHEEN: If Trump wants a Ukraine deal, he should reread his own book
  • Trump’s drastic NSC cuts spark debate: Does fighting the ‘Deep State’ put national security at risk?

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (747)
    • Investing (2,201)
    • Politics (2,719)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.