Shareholders of record whose address on the books of TSX Trust Company, the company’s registrar and transfer agent, is in Canada will receive the Canadian dollar equivalent of the dividend, based on the Bank of Canada daily average exchange rate on the day before the payable date. All other shareholders will receive the dividend in US dollars.
Holders of the company’s Brazilian depositary receipts (BDRs) are expected to receive payment by April 17, 2021. Holders of BDRs will receive the Brazilian reais equivalent of the dividend, based on the exchange rate on the payment date to BDR holders.
“The company finished 2020 in a very strong position, with $118 million in cash and negative net debt of $48 million. Additionally, as previously disclosed, GEO production is expected to increase during 2021 by 22% to 42%, which should lead to stronger results in the year ahead,” president and CEO Rodrigo Barbosa stated in a news release.
Aura is currently focused on the development of gold and base metals projects in the Americas. The company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil, the Aranzazu copper-gold-silver mine in Mexico and the Gold Road mine in the US. In addition, it has two gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
“We believe that we are in a comfortable position to fund development of Almas, our planned expansions and other greenfield projects such as Matupa, and still have excess capital. Therefore, as we generate high returns from our internal investments and continue to have a strong balance sheet, we believe that our shareholders will benefit from such dividend at this time,” Barbosa added.
Shares of Aura Minerals jumped 7.5% by noon EST Tuesday. The mid-tier miner has a market capitalization of C$962.1 million.
