Aura Minerals (AUGO) Registration filing summary

Company overview and business model

• Operates as a mid-tier gold and copper producer with a diversified portfolio of operating mines and development projects across the Americas, focusing on operational efficiency, disciplined capital allocation, and sustainable growth.

• Maintains a decentralized management structure, empowering local teams for agile decision-making and high ESG standards.

• Current operations include four wholly-owned mines (Aranzazu, Apoena, Almas, Minosa) and one ramp-up phase mine (Borborema), with additional development projects (Era Dorada, Matupá) and significant exploration potential.

• Revenue is diversified by product (67% gold, 33% copper/gold concentrate) and geography (Brazil, Mexico, Honduras).

Financial performance and metrics

• For the year ended December 31, 2024: revenue $594.2M, gross profit $251.3M, operating income $205.4M, adjusted EBITDA $266.8M (44.9% margin), net cash from operations $222.2M, adjusted free cash flow $178.2M.

• GEO production for 2024 was 267,232 oz; cash cost per GEO sold $1,042, AISC $1,320.

• Dividend yield plus buybacks reached 7.9% in 2024; $218M returned to shareholders since 2021.

• Net debt as of March 31, 2025: $271.9M; total assets $1.14B, equity $139.9M.

• Q1 2025: revenue $161.8M, gross profit $78.4M, adjusted EBITDA $81.4M (50.3% margin), net cash from operations $41.2M.

Use of proceeds and capital allocation

• Proceeds will fund the upfront cash payment for the Mineração Serra Grande (MSG) acquisition, potential capex at MSG, and provide liquidity for strategic growth initiatives, including advancing Era Dorada and Matupá, production expansions, exploration, and future acquisitions.

• Capital allocation prioritizes high-IRR projects, disciplined stepwise growth, and maintaining strong capital efficiency.

• $396M invested in exploration, expansion, and M&A since 2022.