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 pleased to announce that the Toronto Stock Exchange (TSX) has accepted the Company’s notice of intention to renew its normal course issuer bid (NCIB) and its concurrent notice of intention to renew its Brazilian depositary receipt (BDR) buyback program (BDR Buyback Program).
Renewal of Normal Course Issuer Bid
Under the renewed NCIB, Aura Minerals may purchase up to 14,848,798 common shares, representing approximately 10% of the public float as of February 28, 2025. The renewed NCIB will commence on April 1, 2025, and will terminate on March 31, 2026. The average daily trading volume of the Common Shares on the TSX for the six calendar months prior to the effective date of the renewed NCIB was 1,226,226 common shares.
Renewal of BDR Buyback Program
Concurrently, the Company has also renewed its BDR Buyback Program, which allows Aura Minerals to purchase up to 1,125,000 BDRs, representing approximately 10% of the public float as of February 28, 2025. The renewed BDR Buyback Program will commence on April 1, 2025, and will terminate on March 31, 2026. The average daily trading volume of the BDRs on the B3 S.A. for the six calendar months prior to the effective date of the renewed BDR Buyback Program was 46,561 BDRs.
Impact on Shareholders
The renewal of the NCIB and BDR Buyback Programs represents a commitment by Aura Minerals to return value to its shareholders. By purchasing its own shares and BDRs, the Company can reduce the number of outstanding securities, potentially increasing the value of each remaining share and BDR. This can be particularly beneficial for long-term shareholders, as it can lead to capital gains if they choose to sell their shares or BDRs after the buyback.
Impact on the World
The mining industry plays a crucial role in the global economy, providing essential minerals and metals used in various industries, including technology, construction, and energy. Aura Minerals’ renewed NCIB and BDR Buyback Programs demonstrate the Company’s confidence in its future growth prospects and its commitment to delivering value to its shareholders. This, in turn, can help to boost investor confidence in the mining sector as a whole, potentially leading to increased investment and innovation in the industry.
Conclusion
Aura Minerals’ renewed NCIB and BDR Buyback Programs are a positive sign for the Company and its shareholders, as they demonstrate a commitment to returning value and potentially increasing the value of each remaining share and BDR. The renewal of these programs can also have a positive impact on the mining industry as a whole, boosting investor confidence and potentially leading to increased investment and innovation.
- Aura Minerals renews NCIB and BDR Buyback Programs
- Company can purchase up to 14,848,798 common shares and 1,125,000 BDRs
- Renewed NCIB and BDR Buyback Programs demonstrate commitment to shareholders
- Potential increase in value of remaining shares and BDRs
- Positive impact on mining industry as a whole
