Aura Minerals Renews Normal Course Issuer Bid and BDR Buyback Program
ROAD TOWN, British Virgin Islands, March 24, 2025 – Aura Minerals Inc. (TSX: ORA, B3: AURA33, OTCQX: ORAAF) (“Aura Minerals” or the “Company”), a leading gold and copper production company, is thrilled to announce that the Toronto Stock Exchange (TSX) has accepted the Company’s notice of intention to renew its normal course issuer bid (NCIB) for its issued and outstanding common shares (Common Shares). Simultaneously, Aura Minerals is also announcing the concurrent renewal of its BDR buyback program (BDR Buyback Program) for its Brazilian depositary receipts (BDRs) listed on the B3 S.A.
About Aura Minerals
Aura Minerals is a mid-tier gold and copper mining company focused on the exploration, development, and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres Gold Mine in Honduras and the Aranzazu Copper-Gold Mine in Mexico. Aura Minerals’ development projects include the Serrote Gold Project in Brazil and the Gold Road Project in the United States.
Renewed NCIB and BDR Buyback Program
Under the renewed NCIB, Aura Minerals may purchase up to 14,709,602 Common Shares, which represents approximately 10% of the Company’s public float as of March 22, 2025. The renewed NCIB will commence on April 1, 2025, and will terminate on March 31, 2026, or earlier if the Company completes its purchases under the NCIB prior to that date. The Company intends to use the Common Shares purchased under the NCIB for treasury purposes.
Regarding the BDR Buyback Program, Aura Minerals may purchase up to 5,813,857 BDRs, which represents approximately 15% of the public float of the Company’s BDRs as of March 22, 2025. The BDR Buyback Program will commence on April 1, 2025, and will terminate on March 31, 2026, or earlier if the Company completes its purchases under the BDR Buyback Program prior to that date.
Impact on Shareholders
The renewed NCIB and BDR Buyback Program represent a significant commitment from Aura Minerals to its shareholders. By purchasing its own shares and BDRs, the Company is signaling its confidence in its business and its belief in the value of its shares. This buyback program may also have a positive effect on the share price and could increase earnings per share (EPS) for existing shareholders.
Impact on the World
The renewed NCIB and BDR Buyback Program by Aura Minerals could have a positive impact on the broader market as well. The buyback program demonstrates the Company’s strong financial position and its commitment to creating value for its shareholders. Additionally, the repurchased shares and BDRs will be retired, reducing the number of shares and BDRs available in the market, potentially leading to a decrease in supply and an increase in demand, which could benefit other investors in the gold and copper mining sector.
Conclusion
In conclusion, Aura Minerals’ renewed normal course issuer bid and BDR buyback program are a testament to the Company’s strong financial position and its commitment to creating value for its shareholders. These programs may also have positive implications for the broader market, potentially leading to increased demand and a decrease in supply in the gold and copper mining sector. As always, investors are encouraged to consult their financial advisors for individual investment decisions.
- Aura Minerals renews NCIB and BDR Buyback Program
- TSX accepts notice of intention
- Company may purchase up to 10% of public float of Common Shares
- Company may purchase up to 15% of public float of BDRs
- Positive impact on shareholders and potential positive impact on the broader market
