Aura Announces Q3 2026 and 9M 2026 Financial and Operational Results
A US$200 million syndicated loan facility supports mine construction and capacity expansion, with a five-year maturity.
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Rhea-AI Summary
Aura Minerals (AUGO) reported record third-quarter 2026 production of 95,557 gold-equivalent ounces, with higher revenue and earnings year over year. Revenue reached US$386.0 million, up 56%, while net income was US$135.0 million, versus US$5.626 million a year earlier. Adjusted EBITDA reached US$236.9 million, up 56%.
Nine-month production totaled 253,131 gold-equivalent ounces, up 28%; Aura remains on track for its 340,000–390,000-ounce full-year guidance. Quarterly all-in sustaining costs rose 40% year over year to US$1,953 per gold-equivalent ounce, although they fell 2% sequentially. Recurring free cash flow reached US$123.5 million. Era Dorada construction reached 13.1% completion. Aura also signed a fleet acquisition agreement valued at R$612 million, with transition targeted for January 2027 and closing subject to Brazilian competition clearance.
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Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 production reached a record 95,557 gold-equivalent ounces, up 27% sequentially and 29% year over year.
- Moderate pointQ3 sales increased 25% year over year to 93,794 gold-equivalent ounces; nine-month sales rose 28% to 253,576.
- Moderate pointQ3 revenue rose 56% year over year to US$386.0 million; nine-month revenue increased 84% to US$1,104.6 million.
- Moderate pointQ3 gross profit increased 49% year over year to US$222.631 million; nine-month gross profit rose 94%.
- Moderate pointQ3 adjusted EBITDA rose 56% year over year to US$236.9 million, up 20% sequentially.
- Moderate pointQ3 net income reached US$135.004 million, versus US$5.626 million annually, but fell 38% sequentially.
- Moderate pointQ3 operating cash flow rose 81% year over year to US$167.905 million; nine-month flow increased 86%.
- Moderate pointQ3 recurring free cash flow reached US$123.5 million, up 54% sequentially and 66% year over year.
- Moderate pointDividends and share buybacks totaled US$71 million in Q3. 1.2% of market cap
- Moderate pointSyndicated loan facility provides US$200 million to support construction and capacity expansion. 3.3% of market cap
- Moderate point. Forward-looking: it has not happened yet and may not happen.Fleet insourcing is expected to reduce weighted-average sustaining costs by US$150–US$200 per gold ounce sold across three mines beginning in 2027.
13 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Nine-month production rose 28% to 253,131 gold-equivalent ounces; Aura remains on track for 340,000–390,000 in 2026.
- Minor pointNine-month adjusted EBITDA reached US$677.4 million, up 99% year over year.
- Minor pointNine-month net income reached US$447.849 million, versus a US$59.476 million loss a year earlier.
- Minor pointQ3 adjusted net income rose 77% year over year to US$121.208 million; nine-month income rose 144% to US$322.540 million.
- Minor pointNine-month recurring free cash flow rose 82% year over year to US$295.0 million.
- Minor pointAranzazu Q3 production rose 16% year over year to 24,920 gold-equivalent ounces, up 39% sequentially.
- Minor pointBorborema Q3 production reached 22,842 gold-equivalent ounces, up 124% annually; nine-month production rose 324% to 54,194.
- Minor pointMSG Q3 production increased 85% sequentially to 13,321 gold-equivalent ounces as its turnaround advanced.
- Minor pointAlmas nine-month production increased 12% year over year to 46,232 gold-equivalent ounces.
- Minor pointRealized Q3 gold prices reached US$4,202/oz, up 24% annually but down 2% sequentially; nine-month prices rose 41%.
- Minor pointRealized Q3 copper prices reached US$6.46/lb, up 45% annually and 6% sequentially; nine-month prices rose 41%.
- Minor pointEra Dorada construction reached 13.1%; Aura describes the project as on time and on budget.
- Minor point. Forward-looking: it has not happened yet and may not happen.Almas and Borborema expansions are progressing toward Aura’s medium-term target of over 600,000 gold-equivalent ounces annually.
Negative
- Moderate pointQ3 all-in sustaining costs reached US$1,953 per gold-equivalent ounce, up 40% annually but down 2% sequentially.
- Moderate pointQ3 cash costs rose 26% annually to US$1,395 per gold-equivalent ounce, despite falling 8% sequentially.
- Moderate pointQ3 capital expenditure rose 206% year over year to US$96.588 million; nine-month spending increased 68% to US$225.014 million. 1.6% of market cap
- Moderate pointFleet acquisition enterprise value is R$612 million, including up to R$250 million cash, assumed lease financing and contingent payments.
- Minor pointNine-month all-in sustaining costs increased 34% year over year to US$1,921 per gold-equivalent ounce.
10 minor points
- Minor pointNine-month cash costs increased 29% year over year to US$1,460 per gold-equivalent ounce.
- Minor pointQ3 gross margin was 58%, versus 60% a year earlier, although nine-month margin improved to 58% from 55%.
- Minor pointAranzazu nine-month production declined 9% year over year to 58,497 gold-equivalent ounces.
- Minor pointAlmas Q3 production fell 5% year over year to 14,264 gold-equivalent ounces, down 12% sequentially.
- Minor pointApoena Q3 production fell 26% annually to 6,865 gold-equivalent ounces, despite 20% sequential growth; nine-month production declined 24%.
- Minor pointMinosa Q3 production fell 26% annually to 13,344 gold-equivalent ounces; nine-month production declined 16%.
- Minor pointMSG and Apoena Q3 sustaining costs remained elevated at US$3,647 and US$3,554 per gold-equivalent ounce, respectively.
- Minor pointNet debt stood at US$178.8 million; leverage was 0.20x, versus 0.21x sequentially and 0.15x annually.
- Minor pointSyndicated facility carries SOFR plus 2.70% annually, a two-year grace period and five-year maturity.
- Minor pointFleet acquisition closing requires CADE clearance; transition is targeted for January 2027.
News Explained
Excluding MSG, Q3 AISC was US$1,673 per GEO, 20% above Q3 2025 and in line with Q2’s ex-MSG level.
Aura reported Q3 and nine-month results, saying Q3 recurring free cash flow of
Although Q3 AISC rose
Key Figures
- Q3 production
- 95,557 GEO
- Q3 2026; up 29% year over year at current metal prices
- Nine-month production
- 253,131 GEO
- 9M 2026; up 28% year over year at current metal prices
- Production guidance
- 340k–390k GEO
- 2026 consolidated guidance; company said it remained on track
- Net revenue
- US$386.0 million
- Q3 2026; up 56% year over year
- Net revenue
- US$1,104.6 million
- 9M 2026; up 84% year over year
- Adjusted EBITDA
- US$677.4 million
- 9M 2026; up 99% year over year
- Recurring free cash flow
- US$295.0 million
- 9M 2026; up 82% year over year
- All-in sustaining cost
- US$1,921/GEO
- 9M 2026; up 34% year over year
Previous Earnings Reports
-
H1 production, revenue and Adjusted EBITDA rose year over year; Q2 AISC also increased.
-
Reported record Q1 revenue and Adjusted EBITDA, and reiterated full-year production guidance.
-
Reported record 2025 Adjusted EBITDA and production alongside higher annual net revenue.
-
Reported record quarterly production and Adjusted EBITDA, with nine-month revenue and EBITDA growth.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
gold equivalent ounces technical
all-in sustaining costs financial
syndicated loan facility financial
sofr financial
enterprise value financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
ROAD TOWN, British Virgin Islands, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (NASDAQ: AUGO) (B3: AURA33) (“Aura” or the “Company”) announces that it has filed its audited consolidated financial statements and earnings release (together, “Financial and Operational Results”) for the period ended June 30, 2026. The full version of the Financial and Operational Results can be viewed on the Company’s website at www.auraminerals.com, on SEDAR+ at www.sedarplus.ca. or on SEC www.sec.com.
Rodrigo Barbosa, Aura’s President, and CEO commented: “Production was the highlight of the quarter: a new record of 96k GEO, taking us to 253k GEO year-to-date, the highest nine-month result in Aura’s history and keeping us firmly on track for our 340k–390k full-year guidance. Led by a record quarter at Borborema and the continued turnaround at MSG, this operational strength translated into solid financials, with nine-month Adjusted EBITDA of
Operational & Financial Headlines Q3 2026 and 9M 2026
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Total Production (GEO) | 95,557 | 75,437 | 74,227 | 253,131 | 198,347 | |||
| Total Sales (GEO) | 93,794 | 78,414 | 74,907 | 253,576 | 197,850 | |||
| Net Revenue | 385,977 | 335,967 | 247,832 | 1,104,550 | 600,072 | |||
| Gross Profit | 222,631 | 191,477 | 149,609 | 642,936 | 331,976 | |||
| Gross Margin | 58% | 1 p.p. | -3 p.p. | 3 p.p. | ||||
| Adjusted EBITDA | 236,871 | 196,659 | 152,105 | 677,399 | 339,808 | |||
| Adjusted EBITDA Margin | 61% | 3 p.p. | 0 p.p. | 5 p.p. | ||||
| Net Income | 135,004 | 217,687 | - | 5,626 | 447,849 | (59,476) | n.a. | |
| Net Income Margin | 35% | -30 p.p. | 33 p.p. | - | 50 p.p. | |||
| Adjusted Net Income | 121,208 | 97,414 | 68,672 | 322,540 | 132,409 | |||
| Adjusted Net Income Margin | 31% | 2 p.p. | 4 p.p. | 7 p.p. | ||||
| Cash Cost (US$/GEO) | 1,395 | 1,513 | - | 1,110 | 1,460 | 1,133 | ||
| All In Sustaining cost (US$/GEO) | 1,953 | 1,985 | - | 1,396 | 1,921 | 1,433 | ||
| Operating Cash Flow | 167,905 | 111,945 | 93,096 | 397,721 | 214,189 | |||
| Net Debt/LTM Adjusted EBITDA | 0.20x | 0.21x | -0.01x | 0.15x | 0.05x | 0.20x | 0.15x | 0.05x |
| Total CAPEX | 96,588 | 84,319 | 31,605 | 225,014 | 133,655 |
Except as otherwise noted in this document, references herein to “US$” or and “$” are to thousands of United States dollars
Headlines
- Record High Production: Q3 2026 total production reached 95,557 GEO, a
27% increase compared to Q2 2026 and29% higher than Q3 2025 at current metal prices (at constant prices, +26% QoQ and +25% YoY). In 9M 2026, Aura produced 253,131 GEO (255,268 GEO at constant prices), a28% increase over 9M 2025 at current prices (+26% at constant prices) and the highest nine-month production in the Company’s history and on track to deliver its consolidated guidance of 340k – 390k GEO in 2026. Over the last twelve months, Aura produced 335,198 GEO at current prices, another record high and a27% increase compared to the twelve-month period ended Q3 2025. Q3 2026 and 9M 2026 highlights:- Aranzazu: 24,920 GEO (+
39% QoQ; +16% YoY at current prices), mainly reflecting higher grades from mine sequencing, as planned, supported by favorable metal price effects on GEO conversion. The average realized copper price increased6% QoQ to$6.46 /lb, while the average realized gold price decreased3% to$4,285 /oz. At constant prices, production was +35% QoQ and +6% YoY, by higher grades and more copper contained in concentrate. In 9M 2026, total production reached 58,497 GEO (-9% YoY) at current prices. At constant prices, Aranzazu produced 60,634 GEO (-12% YoY), primarily due to lower grades anticipated for the first half of the year. - Almas: 14,264 GEO (-
12% QoQ; -5% YoY), mainly due to lower grades, reflecting the processing of additional ore following the plant expansion and in line with the mine sequencing plan, which moves into higher-grade areas in Q4. As result of the expansion plan, plant feed increased31% YoY and3% QoQ, with recovery stable at approximately88% . In 9M 2026, production totaled 46,232 GEO (+12% YoY), as the higher plant feed enabled by the expansion more than offset the impact of lower grades. This result already represents73% of the guidance high range. - Apoena: 6,865 GEO (+
20% QoQ; -26% YoY), with QoQ growth driven by a27% increase in grade and higher plant feed, reflecting continued advancement of Phase 3 at the Nosde Pit, where access to the main higher-grade areas was completed during the quarter and which will be the primary source of ore in Q4. The YoY decrease was primarily due to lower plant feed and lower recovery rates. In 9M 2026, total production was 20,094 GEO (-24% YoY), mainly due to lower ore plant feed and lower grades. Aura expects higher grades in Q4 2026, keeping Apoena on track to meet its 2026 guidance. - Borborema: 22,842 GEO (+
60% QoQ; +124% YoY), a quarterly record for the operation, representing approximately24% of Aura’s total production in Q3 2026. The increase QoQ was driven by higher grades (+42% , from 1.16 g/t to 1.65 g/t), reflecting access to higher-grade areas in line with the mine plan, and by a14% QoQ increase in ore plant feed, supported by improved filtering performance. In 9M 2026, total production was 54,194 GEO, compared to 12,796 GEO in 9M 2025, considering that commercial production at Borborema started in the second half of 2025. This result already represents70% of the guidance high range. - Minosa: 13,344 GEO (-
7% QoQ; -26% YoY), mainly due to lower ore plant feed, still an effect of the increase in stacking level within the leach pad, as seen in the previous quarter. In 9M 2026, production totaled 45,027 GEO (-16% YoY), mainly due to these impacts throughout the year. Even with the effects of the higher stacking level, Minosa has reached71% of the low end of its 2026 guidance range. - MSG: 13,321 GEO (+
85% QoQ), driven by higher grades (from 0.90 g/t in Q2 2026 to 1.19 g/t in Q3 2026), an increase in ore plant feed (+28% QoQ) and a 1.9 p.p. improvement in recovery rate (89.6% ), as the mine turnaround advances, with underground infrastructure and the transition to the bottom-up method progressing according to plan. In 9M 2026, production reached 29,087 GEO.
- Aranzazu: 24,920 GEO (+
- Sales Volumes: Q3 2026 sales were 93,794 GEO, a
20% increase QoQ and25% YoY at current prices (+7% YoY excluding MSG), mainly due to higher sales at Borborema, which posted a quarterly record, Aranzazu and MSG improvements. In 9M 2026, Aura sold 253,576 GEO, up28% YoY, a high record result. - Net Revenues: Q3 2026 reached US
$386.0 million , up15% QoQ and up56% YoY, driven mainly by higher sales volumes. In 9M 2026, Net Revenue was US$1,104.6 million , up84% compared to the same period of last year, driven by higher sales and metal prices.- Average realized gold prices: Q3 2026: US
$4,202 /oz (-2% QoQ, +24% YoY). 9M 2026: US$4,436 /oz (+41% YoY). - Average realized copper prices: Q3 2026: US
$6.46 /lb (+6% QoQ, +45% YoY). 9M 2026: US$6.12 /lb (+41% YoY).
- Average realized gold prices: Q3 2026: US
- Adjusted EBITDA: Q3 hit US
$ 236.9 million , up20% QoQ and up56% YoY. Driven by increase in production/ sales between the periods and also metal prices when compared YoY. In 9M 2026, Adjusted EBITDA hit US$ 677.4 million , almost double of the previous year and already24% above the full year of 2025, also benefited by increase in production/sales and more favorable metal prices. - AISC Performance: Q3 2026 AISC was US
$1,953 /GEO, a2% decrease QoQ, as the lower AISC at Aranzazu (-25% ), driven by higher grades, sales volumes and more favorable copper to gold price ratio, and at MSG (-30% ), as the85% increase in volumes diluted costs combined with higher grades, more than offset the increases at Apoena (+33% , as the increase in grade did not offset the higher sustaining CAPEX), Minosa (+15% , due to lower sales), Borborema (+14% , due to higher mine development cost as the strip ratio increased from 2.1x to 4.6x) and Almas (+6% , as lower grades). MSG (US$3,647 /GEO) and Apoena (US$3,554 /GEO) remained the highest AISC in the quarter, reflecting the final phases of the turn-around and the development of the Nosde pit, respectively. Compared to Q3 2025, AISC increased40% , largely driven by the consolidation of MSG; excluding MSG, AISC was US$1,673 /GEO, in line with Q2 2026 ex-MSG and up20% YoY. In 9M 2026, AISC was US$1,921 /GEO. - Recurring Free Cash Flow: Q3 2026 US
$123.5 million , +54% QoQ, benefited by higher Adjusted EBITDA and lower income taxes and hedges payments, offsetting increased CAPEX (+32% QoQ as part of the Company’s plan and in line with Guidance), and increase in working capital (stockpile and VAT). Compared to Q3 2025, RFCF increased by66% mainly related to the higher Adjusted EBITDA. In 9M 2026, US$295.0 million (+82% YoY). - Net Income: US
$135.0 million , -38% QoQ mainly due to lower unrealized gain with gold derivatives (US$12.7 million in Q3 26 vs. US$126.0 million in Q2 2026). In 9M 2026, net income was US$447.8 million , benefited from an Operating Income and positive accounting impact of unrealized gains with gold derivatives.- Excluding non-cash gain, mainly related to the MTM of gold collars, adjusted net income was US
$121.2 million , +24% QoQ and +77% YoY, for the reasons discussed above.
- Excluding non-cash gain, mainly related to the MTM of gold collars, adjusted net income was US
- Net Debt Position and Financial Leverage: Q3 2026 Net Debt of US
$178.8 million (0.20x Net Debt/Adjusted EBITDA LTM), almost stable when compared to the previous quarter. Dividends and shares buybacks of US$71 million and expansion capex of US$55 million were almost entirely financed by Recurring Free Cash Flow of US$ 123.5 million . - Advancing Construction, Environment, and Community at Era Dorada, on time and on budget:
- Construction: physical progress reached
13.1% . Civil works advanced across the main process areas, and the project is moving toward electromechanical construction. - Underground mine: development ramping up. The mining contractor mobilized, delineation and ventilation raise drilling began, and underground infrastructure and equipment are being deployed on site.
- Workforce: site activity grew significantly, with about 795 people on site,
57% from Asunción Mita. - Safety: more than 711,000 work hours and 622 days without a lost-time injury.
- Community: engagement continued alongside construction through the Development Roundtables and Casa Era Dorada.
- Construction: physical progress reached
OTHER UPDATES:
Syndicated Loan Facility: On September 18, 2026, Aura contracted a US
Mining Fleet Insourcing: On October 2, 2026, Aura announced that it had signed a definitive agreement to acquire a company (“Newco”) that holds the mining fleet, related equipment leases and dedicated workforce currently operated by a third-party contractor at the Apoena, Almas and Borborema gold mines, bringing fleet operation and maintenance in-house (the “Insourcing”), with the transition targeted for January 2027. The agreed Enterprise Value is R
Results Teleconference:
Date: November 6, 2026
Time: 11 a.m. (Brasília) | 9 a.m. (New York and Toronto)
Link to access: Click here
2. Consolidated Financial Results
2.1 Total Production and Sales (GEO)
| (GEO) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Production | ||||||||
| Aranzazu | 24,920 | 17,882 | 21,534 | 58,497 | 64,271 | - | ||
| Apoena | 6,865 | 5,704 | 9,248 | - | 20,094 | 26,343 | - | |
| Minosa | 13,344 | 14,284 | - | 18,138 | - | 45,027 | 53,831 | - |
| Almas | 14,264 | 16,130 | - | 15,088 | - | 46,232 | 41,107 | |
| Borborema | 22,842 | 14,251 | 10,219 | 54,194 | 12,796 | |||
| MSG | 13,321 | 7,186 | n.a. | n.a. | 29,087 | n.a. | n.a. | |
| Total | 95,557 | 75,437 | 74,227 | 253,131 | 198,347 |
| (GEO) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Sales | ||||||||
| Aranzazu | 23,250 | 17,764 | 21,514 | 57,232 | 64,260 | - | ||
| Apoena | 6,864 | 5,704 | 9,249 | - | 20,093 | 26,876 | - | |
| Minosa | 13,630 | 15,296 | - | 17,827 | - | 46,392 | 53,189 | - |
| Almas | 14,264 | 17,921 | - | 15,089 | - | 46,232 | 41,107 | |
| Borborema | 22,454 | 14,539 | 11,228 | 53,601 | 12,418 | |||
| MSG | 13,331 | 7,191 | n.a. | n.a. | 30,025 | n.a. | n.a. | |
| Total | 93,794 | 78,414 | 74,907 | 253,576 | 197,850 | |||
Applies the metal sale prices in Aranzazu realized during Q3 2026: Copper price = US
Production
In Q3 2026, total production reached a record 95,557 gold equivalent ounces (“GEO”), up
QoQ drivers:
- Aranzazu: mine sequencing reached higher grades, with copper at
1.51% vs.1.27% in Q2. Favorable metal prices in the copper-to-GEO conversion added to the gain. - Borborema: record quarter. Grade rose
42% to 1.65 g/t (vs. 1.16 g/t) and plant feed rose14% on better filtering. - MSG: production up
85% as the turnaround advanced. Plant feed rose28% to 381,060 t, grade improved to 1.19 g/t (vs. 0.90 g/t) and recovery gained 1.9 p.p. to89.6% .
Lower grades at Almas and lower production at Minosa partially offset these gains. Both should recover in Q4, while Apoena is also expected to improve: Almas moves into higher-grade zones, and at Apoena, access to the main higher-grade areas of Phase 3 of the Nosde Pit was completed in Q3.
YoY drivers:
- Addition of MSG and better performance at Borborema, on higher grades and higher ore plant feed.
- Aranzazu, on favorable metal prices and higher copper content in concentrate.
- Lower output at Apoena, Almas and Minosa trimmed the gain, with Minosa still affected by the higher stacking level within the leach pad, as seen in the previous quarter and Apoena and Almas impacted mainly by mine sequencing.
In 9M 2026, production reached a record 253,131 GEO, the highest nine-month output in Aura’s history, up
Over the last twelve months, Aura produced 335,198 GEO at current prices, another record high and a
Sales
The same drivers shaped sales in Q3 2026, which totaled 93,794 GEO, a
2.2. Net Revenue
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Aranzazu | 89,426 | 74,825 | 67,094 | 233,429 | 179,864 | |||
| Apoena | 28,998 | 25,376 | 31,223 | - | 90,188 | 84,287 | ||
| Minosa | 55,570 | 64,286 | - | 59,204 | - | 199,876 | 163,042 | |
| Almas | 60,362 | 79,322 | - | 51,329 | 208,377 | 130,207 | ||
| Borborema | 95,263 | 63,242 | 38,982 | 240,493 | 42,672 | |||
| MSG | 56,358 | 28,916 | n.a. | 132,187 | n.a. | |||
| Total | 385,977 | 335,967 | 247,832 | 1,104,550 | 600,072 | |||
Q3 2026 Net Revenue was US
By mine:
- Borborema: US
$95.3 million (25% of total), up51% QoQ and144% YoY, on record production and sales, higher grades and plant feed, and higher gold prices. - Aranzazu: US
$89.4 million , up20% QoQ and33% YoY, on higher grades and sales and a6% QoQ rise in the realized copper price to US$6.46 /lb. - Almas: US
$60.4 million , down24% QoQ on lower sales and grades due to mine sequence and in line with the plan. It was up18% YoY because higher gold prices more than offset lower volumes. - MSG: US
$56.4 million , up95% QoQ as the turnaround advanced and production rose85% . - Minosa: US
$55.6 million , down14% QoQ and6% YoY on lower production/ sales as explained. - Apoena: US
$29.0 million , up14% QoQ on higher grades and sales, down7% YoY.
In 9M 2026, Net Revenue was US
2.3. Cost and Gross Profit
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Net Revenue | 385,977 | 335,967 | 247,832 | 1,104,550 | 600,072 | |||
| Cost of goods sold | (163,346) | (144,490) | (98,223) | (461,614) | (268,096) | |||
| Cost of production | (85,452) | (72,546) | (44,745) | (241,526) | (134,134) | |||
| Cost of production – Contractors | (23,058) | (23,132) | (26,437) | - | (62,779) | (59,433) | ||
| Direct mine and mill costs – Salaries | (22,352) | (22,944) | - | (11,983) | (65,992) | (30,659) | ||
| Depreciation and amortization | (32,484) | (25,868) | (15,058) | (91,317) | (43,870) | |||
| Gross Profit | 222,631 | 191,477 | 149,609 | 642,936 | 331,976 | |||
| Gross Margin | 58% | 1 p.p. | -3 p.p. | 3 p.p. | ||||
In Q3 2026, Cost of Goods Sold (COGS) totaled US
In 9M 2026, COGS was US
Gross Profit
In Q3 2026 was US
2.4. Cash Cost and All in Sustaining Costs
| (US$/GEO) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Cash Cost | 1,395 | 1,513 | - | 1,110 | 1,460 | 1,133 | ||
| Aranzazu | 1,131 | 1,409 | - | 1,133 | 1,338 | 1,135 | ||
| Apoena | 1,795 | 1,886 | - | 1,082 | 1,666 | 1,159 | ||
| Minosa | 1,473 | 1,308 | 1,192 | 1,311 | 1,173 | |||
| Almas | 1,239 | 1,156 | 986 | 1,196 | 1,069 | |||
| Borborema | 1,070 | 991 | 1,127 | - | 1,089 | 1,109 | - | |
| MSG | 2,286 | 3,852 | - | n.a. | 2,855 | n.a. | ||
| Ex-MSG | 1,248 | 1,277 | - | 1,110 | 1,273 | 1,133 | ||
| All-in Sustaining Cost | 1,953 | 1,985 | - | 1,396 | 1,921 | 1,433 | ||
| Aranzazu | 1,425 | 1,897 | - | 1,511 | - | 1,748 | 1,523 | |
| Apoena | 3,554 | 2,668 | 1,791 | 2,769 | 1,867 | |||
| Minosa | 1,775 | 1,545 | 1,372 | 1,547 | 1,305 | |||
| Almas | 1,722 | 1,626 | 1,128 | 1,580 | 1,223 | |||
| Borborema | 1,261 | 1,102 | 1,237 | 1,216 | 1,256 | - | ||
| MSG | 3,647 | 5,277 | - | n.a. | 4,043 | n.a. | ||
| Ex-MSG | 1,673 | 1,653 | 1,396 | 1,636 | 1,433 | |||
Cash Cost
In Q3 2026 was US
QoQ drivers:
- MSG: -
41% as the turnaround advanced and production rose85% QoQ on higher processed volumes, higher grades and improved recovery (see section 3.6). - Aranzazu also stood out, with -
20% , supported by higher processed volumes and higher grades following mine sequencing. - Apoena’s also decreased
5% in Cash Cost, as production increased.
YoY drivers:
- MSG: Inclusion of MSG.
- Apoena: lower production.
- Minosa: lower production and higher costs due to effect of the increase in stacking level within the leach pad seen.
- Almas: higher strip ratio and lower grades.
In 9M 2026 Cash Cost was US
AISC
Following the same trend as Cash Cost, AISC totaled US
In 9M 2026, AISC was US
2.5. Operating Expenses
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Gross Profit | 222,631 | 191,477 | 149,609 | 642,936 | 331,976 | |||
| Operational Expenses | (17,994) | (16,176) | (13,526) | (57,679) | (38,229) | |||
| General and administrative expenses | (17,555) | (22,477) | - | (10,371) | (55,774) | (31,291) | ||
| Exploration expenses | (3,492) | (3,569) | - | (2,333) | (9,420) | (5,423) | ||
| Other Income/Expenses | 3,053 | 9,870 | - | (822) | n.a | 7,515 | (1,515) | n.a. |
| Operating income | 204,637 | 175,301 | 136,083 | 585,257 | 293,747 | |||
General and Administrative
In Q3 2026, expenses totaled US
In 9M 2026, G&A totaled US
Exploration expenses
In Q3 2026, totaled US
In 9M 2026, exploration expenses totaled US
Other Income/Expenses
In Q3 2026, net income of US
In 9M 2026, the Company recorded net Other Income of US
Operating Income
In Q3 2026 was US
In 9M 2026, Operating Income totaled US
2.6. Adjusted EBITDA
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Operating Income | 204,637 | 175,301 | 136,083 | 585,257 | 293,747 | |||
| Depreciation and Amortization | 32,971 | 26,529 | 15,200 | 92,641 | 44,546 | |||
| Other Expenses | (3,053) | (9,870) | n.a. | 822 | n.a. | (7,515) | 1,515 | n.a. |
| Provision for contingent liabilities | 2,316 | 4,699 | n.a. | n.a. | n.a. | 7,016 | n.a. | n.a. |
| Adjusted EBITDA | 236,871 | 196,659 | 152,105 | 677,399 | 339,808 | |||
| Aranzazu | 60,149 | 47,402 | 39,646 | 148,941 | 99,900 | |||
| Almas | 41,130 | 56,159 | - | 34,525 | 147,009 | 81,661 | ||
| Borborema | 69,781 | 47,297 | 25,144 | 178,017 | 27,356 | |||
| Minosa | 34,500 | 43,249 | - | 35,478 | - | 135,854 | 96,124 | |
| Apoena | 14,747 | 13,675 | 20,735 | - | 52,697 | 50,432 | ||
| MSG | 24,402 | (1,116) | n.a | n.a. | n.a | 40,726 | n.a. | n.a |
| Corporate, Projects and Other | (7,838) | (10,007) | - | (3,423) | (25,845) | (15,665) | ||
| Adjusted EBITDA Margin | 61% | 3 p.p. | 0 p.p. | 5 p.p. | ||||
Adjusted EBITDA was US
QoQ drivers:
- MSG: which shifted from a negative contribution in the previous quarter to a strong positive result, due the ramp up of the operation;
- Borborema (+
48% ) and Aranzazu (+27% ), both of which recorded solid growth. - Better cost performance: Cash cost per GEO (-
8% ) and lower G&A.
YoY drivers:
- Borborema ramp up (+US
$44.6 million ) and MSG addition (+US$24.4 million ) together accounting for81% of the increase. - Higher realized gold and copper prices (+
24% and +45% , respectively) - Offsets: Apoena’s Adjusted EBITDA (-
29% ) on lower sales and higher costs, while Corporate, Projects and Other costs were US$(7.8) million .
In 9M 2026, Adjusted EBITDA reached US
2.7. Financial Result
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| EBIT | 204,637 | 175,301 | 136,083 | 585,257 | 293,747 | |||
| Financial Result | (26,449) | 61,054 | - | (102,565) | - | (34,316) | (283,806) | - |
| Accretion expense | (2,111) | (1,981) | (2,980) | - | (6,371) | (5,780) | ||
| Lease interest expense | (1,105) | (667) | (824) | (2,582) | (2,580) | |||
| Interest expense on loans and debentures | (7,923) | (6,266) | (5,786) | (20,576) | (17,639) | |||
| Finance cost on post-employment benefit | (591) | (595) | - | (535) | (1,784) | (1,620) | ||
| Unrealized gain/(loss) with derivative gold collars | 0 | 0 | (75,252) | n.a | 0 | (199,766) | n.a. | |
| Realized loss with derivative gold collars | (33,602) | (37,249) | -10 | (17,130) | (104,176) | (34,869) | ||
| Loss on other derivative transactions | (1,981) | n.a | (685) | n.a | 0 | (3,817) | n.a. | |
| Foreign exchange | (10,908) | n.a | (36) | n.a | (1,428) | (5,674) | - | |
| Change in liability measured at fair value | (1,951) | (1,935) | (1,036) | (8,912) | (7,420) | |||
| Loss on settlement of liability with equity instruments | 0 | 0 | 0 | 0 | (8,768) | n.a. | ||
| Other finance costs | (1,369) | (4,622) | - | (585) | (8,487) | (1,312) | ||
| Finance expenses | (48,652) | (66,204) | - | (104,849) | - | (154,316) | (289,245) | - |
| Gain on other derivative transactions | 3,998 | 0 | n.a. | 0 | 0 | 829 | 0 | n.a. |
| Unrealized gain/loss with gold derivative | 12,729 | 126,013 | - | 0 | 114,637 | 0 | n.a. | |
| Foreign exchange | 4,007 | 0 | 0 | 0 | 0 | n.a. | ||
| Interest income | 1,469 | 1,245 | 2,284 | - | 4,534 | 5,439 | - | |
| Finance income | 22,203 | 127,258 | - | 2,284 | 120,000 | 5,439 | ||
| Profit/ (loss) before income taxes | 178,188 | 236,355 | - | 33,518 | 550,941 | 9,941 | ||
The Company’s net Financial Result in Q3 2026 was a loss of US
- Unrealized gain on gold hedges of US
$12.7 million in Q3 2026, arising from mark-to-market (MTM) adjustments related to outstanding gold hedge positions, mainly due to the settlement of gold collars during the quarter (“realized losses”). In accordance with IFRS standards, the Company records MTM adjustments at the end of each reporting period for all outstanding derivative positions. - Realized losses with gold hedges of US
$33.6 million in Q3 2026 were related to cash settlement of outstanding gold collars during the quarter, driven by the expiration of gold collars within the quarter.
In 9M 2026, the Financial Result was US
- Unrealized gain on gold hedges of US
$114.6 million in 9M 2026, arising from mark-to-market (MTM) adjustments related to outstanding gold hedge positions, reflecting mainly due to the settlement of gold collars during the period (“realized losses”). - Realized losses with gold hedges of US
$104.2 million in 9M 2026 were related to cash settlement of outstanding gold collars during the period, driven by the expiration of gold collars within the quarter. All of Aura’s outstanding gold collars (148,496 Ozs) are associated with the future production of Borborema and will expire between October/2026 and June/2028. As previously disclosed, an estimated80% of the production for the first 3 years of the Borborema were hedged in 2023 at ceiling prices of US$2,400 per Oz.
2.8. Net Income
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Profit/ (loss) before income taxes | 178,188 | 236,355 | - | 33,518 | 550,941 | 9,941 | ||
| Total taxes | (43,184) | (18,668) | (27,892) | (103,092) | (69,417) | |||
| Current income tax expense | (48,570) | (19,794) | (38,402) | (115,773) | (88,767) | |||
| Deferred income tax expense | 5,386 | 1,126 | 10,510 | - | 12,681 | 19,350 | - | |
| Profit/(loss) for the period | 135,004 | 217,687 | - | 5,626 | 447,849 | (59,476) | n.a. | |
| Net Margin | 35% | -30 p.p. | 33 p.p. | - | 50 p.p. | |||
| Unrealized gain/(loss) with derivative gold collars | 12,729 | 126,013 | - | (75,252) | n.a. | 114,637 | (199,766) | n.a. |
| Foreign Exchange | 4,007 | (10,908) | n.a. | (36) | n.a. | (1,428) | (5,674) | - |
| Deferred taxes on non-monetary items | (2,940) | 5,168 | n.a. | 12,242 | n.a. | 12,100 | 22,323 | - |
| Loss on settlement of liability with equity instruments | 0 | 0 | n.a. | 0 | n.a. | 0 | (8,768) | n.a. |
| Adjusted Net Income | 121,208 | 97,414 | 68,672 | 322,540 | 132,409 | |||
Net Income in Q3 2026 was US
- QoQ: the unrealized gain on gold hedges fell to US
$12.7 million from US$126.0 million in Q2. That drop more than offset the higher Operating Income. - YoY: driven by higher Operating Income and by the mark-to-market (MTM) on open gold hedge positions. MTM was a US
$12.7 million gain, compared with a US$(75.3) million loss in Q3 2025.
In 9M 2026, Net Income reached US
Adjusted Net Income
As a result of the increase in the Company's Operating Income, Adjusted Net Income in Q3 2026 was US
- Non-cash gain related to gold hedges: US
$12.7 million - FX gain: US
$4.0 million - Deferred taxes over non-monetary items: US
$(2.9) million
In 9M 2026, Adjusted Net Income was US
- Non-cash gain related to gold hedges: US
$114.6 million - FX losses: US
$(1.4) million - Deferred taxes over non-monetary items: US
$12.1 million
3. Performance of the Operating Units
3.1 Aranzazu
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Production at Constant Prices (GEO)¹ | 24,920 | 18,405 | 23,449 | 60,634 | 69,040 | - | ||
| Production at Current Prices (GEO) | 24,920 | 17,882 | 21,534 | 58,497 | 64,271 | - | ||
| Sales (GEO) | 23,250 | 17,764 | 21,514 | 57,232 | 64,260 | - | ||
| Cash Cost (US$/GEO) | 1,131 | 1,409 | - | 1,133 | 1,338 | 1,135 | ||
| AISC (US$/GEO) | 1,425 | 1,897 | - | 1,511 | - | 1,748 | 1,523 | |
| Net Revenue | 89,426 | 74,825 | 67,094 | 233,429 | 179,864 | |||
| Cost of goods sold | (33,006) | (31,424) | (29,631) | (96,909) | (90,934) | |||
| Gross Profit | 56,420 | 43,401 | 37,463 | 136,520 | 88,930 | |||
| Expenses | (3,461) | (2,348) | (2,727) | (9,564) | (8,622) | |||
| General and administrative expenses | (1,426) | (1,249) | (1,784) | - | (4,262) | (5,074) | - | |
| Exploration expenses | (1,553) | (1,146) | (675) | (3,634) | (2,178) | |||
| Other income (expenses) | (482) | 47 | n.a. | (268) | (1,668) | (1,370) | ||
| EBIT | 52,959 | 41,053 | 34,736 | 126,956 | 80,308 | |||
| Adjusted EBITDA | 60,149 | 47,402 | 39,646 | 148,941 | 99,900 | |||
| Financial Result | 852 | (2,310) | n.a. | (2,173) | n.a. | (1,494) | (5,969) | - |
| Financial Income | 94 | 51 | 10 | n.a. | 258 | 10 | n.a. | |
| Financial expenses | 758 | (2,361) | n.a. | (2,183) | n.a. | (1,752) | (5,979) | - |
| EBT | 53,811 | 38,743 | 32,563 | 125,462 | 74,339 | |||
| Total taxes | (12,900) | (12,033) | (8,088) | (34,165) | (28,003) | |||
| Current income tax expense | (13,855) | (12,870) | (10,248) | (37,151) | (29,714) | |||
| Deferred income tax expense | 955 | 837 | 2,160 | - | 2,986 | 1,711 | ||
| Profit for the period | 40,911 | 26,710 | 24,475 | 91,297 | 46,336 | |||
| Mining & Processing | ||||||||
| Ore mined (t) | 330,257 | 302,118 | 323,154 | 948,539 | 934,894 | |||
| Ore milled (t) | 340,081 | 300,220 | 309,398 | 943,660 | 907,530 | |||
| Grade | ||||||||
| Copper (%) | 1.51% | - | - | |||||
| Gold (g/t) | 0.79 | 0.72 | 0.83 | - | 0.73 | 0.86 | - | |
| Silver (g/t) | 22.48 | 18.52 | 22.26 | 19.48 | 22.24 | - | ||
| Recovery | ||||||||
| Copper (%) | 89.2% | 0.2 p.p. | -2.7 p.p. | -1.5 p.p. | ||||
| Gold (%) | 81.3% | 2.5 p.p. | 0.5 p.p. | -1.6 p.p. | ||||
| Silver (%) | 59.4% | -2.0 p.p. | -4.2 p.p. | -3.2 p.p. | ||||
| Molybdenum (%) | 50.0% | -14.0 p.p. | -11.3 p.p. | 1.3 p.p. | ||||
Applies the metal sale prices in Aranzazu realized during Q3 2026: Copper price = US
Production: Aranzazu’s Q3 2026 production reached 24,920 GEO at current prices, +
In 9M 2026, production was 58,497 GEO at current prices (60,634 GEO at constant prices), -
Net Revenue: was US
Costs: COGS was US
AISC was US
Expenses: G&A was US
Profitability: Adjusted EBITDA reached US
3.2 Apoena
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Production (GEO) | 6,865 | 5,704 | 9,248 | - | 20,094 | 26,343 | - | |
| Sales (GEO) | 6,864 | 5,704 | 9,249 | - | 20,093 | 26,876 | - | |
| Cash Cost (US$/GEO) | 1,795 | 1,886 | - | 1,082 | 1,666 | 1,159 | ||
| AISC (US$/GEO) | 3,554 | 2,668 | 1,791 | 2,769 | 1,867 | |||
| Net Revenue | 28,998 | 25,376 | 31,223 | - | 90,188 | 84,287 | ||
| Cost of goods sold | (16,560) | (15,538) | (15,307) | (48,328) | (44,681) | |||
| Gross Profit | 12,438 | 9,838 | 15,916 | - | 41,860 | 39,606 | ||
| Expenses | (3,369) | 5,104 | n.a. | (390) | 574 | (2,700) | n.a. | |
| General and administrative expenses | (3,578) | (5,459) | - | (292) | (10,040) | (2,529) | ||
| Exploration expenses | (693) | (210) | (82) | (1,080) | (268) | |||
| Other income (expenses) | 902 | 10,773 | - | (16) | n.a. | 11,694 | 97 | |
| EBIT | 9,069 | 14,942 | - | 15,526 | - | 42,434 | 36,906 | |
| Adjusted EBITDA | 14,747 | 13,675 | 20,735 | - | 52,697 | 50,432 | ||
| Financial Result | (3,798) | (2,051) | (5,386) | - | (7,862) | (13,519) | - | |
| Financial Income | 153 | 32 | 234 | - | 524 | 393 | ||
| Financial expenses | (3,951) | (2,083) | (5,620) | - | (8,386) | (13,912) | - | |
| EBT | 5,271 | 12,891 | - | 10,140 | - | 34,572 | 23,387 | |
| Total taxes | (2,124) | (2,924) | - | (717) | (7,852) | (586) | ||
| Current income tax expense | (4,010) | (568) | (893) | (5,281) | (2,418) | |||
| Deferred income tax expense | 1,886 | (2,356) | n.a. | 176 | (2,571) | 1,832 | n.a. | |
| Profit for the period | 3,147 | 9,967 | - | 9,423 | - | 26,720 | 22,801 | |
| Mining & Processing | ||||||||
| Total mined (t) | 6,747,881 | 8,040,895 | - | 6,238,448 | 21,376,275 | 16,530,506 | ||
| Waste to ore ratio | 16.46 | 30.33 | - | 19.04 | - | 17.74 | 13.80 | |
| Ore plant feed (t) | 378,298 | 326,366 | 398,673 | - | 1,031,133 | 1,157,914 | - | |
| Grade (g/t) | 0.74 | 0.59 | 0.74 | 0.71 | 0.76 | - | ||
| Recovery (%) | 86.9% | -3.6 p.p. | -7.9 p.p. | -4.3 p.p. | ||||
Production: Apoena’s Q3 2026 production totaled 6,865 GEO, +
In 9M 2026, production was 20,094 GEO, -
Net Revenue: was US
Cost: COGS was US
AISC was US
Expenses: G&A was US
Profitability: Adjusted EBITDA reached US
In 9M 2026, Adjusted EBITDA reached US
3.3 Minosa
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Production (GEO) | 13,344 | 14,284 | - | 18,138 | - | 45,027 | 53,831 | - |
| Sales (GEO) | 13,630 | 15,296 | - | 17,827 | - | 46,392 | 53,189 | - |
| Cash Cost (US$/GEO) | 1,473 | 1,308 | 1,192 | 1,311 | 1,173 | |||
| AISC (US$/GEO) | 1,775 | 1,545 | 1,372 | 1,547 | 1,305 | |||
| Net Revenue | 55,570 | 64,286 | - | 59,204 | - | 199,876 | 163,042 | |
| Cost of goods sold | (21,049) | (21,346) | - | (22,486) | - | (65,075) | (66,018) | - |
| Gross Profit | 34,521 | 42,940 | - | 36,718 | - | 134,801 | 97,024 | |
| Expenses | (1,159) | (1,479) | - | (2,312) | - | (3,883) | (5,104) | - |
| General and administrative expenses | (976) | (1,004) | - | (1,271) | - | (3,081) | (3,572) | - |
| Exploration expenses | (19) | (19) | (760) | - | (103) | (1,260) | - | |
| Other income (expenses) | (164) | (456) | - | (281) | - | (699) | (272) | |
| EBIT | 33,362 | 41,461 | - | 34,406 | - | 130,918 | 91,920 | |
| Adjusted EBITDA | 34,500 | 43,249 | - | 35,478 | - | 135,854 | 96,124 | |
| Financial Result | (1,286) | (1,252) | (1,147) | (3,784) | (3,901) | - | ||
| Financial Income | - | 89 | - | 86 | - | 154 | 268 | |
| Financial expenses | (1,286) | (1,341) | - | (1,233) | (3,938) | (4,169) | - | |
| Profit before income taxes | 32,076 | 40,209 | - | 33,259 | - | 127,134 | 88,019 | |
| Total taxes | (8,056) | (9,865) | - | (8,350) | - | (32,691) | (21,993) | |
| Current income tax expense | (8,452) | (10,707) | - | (8,725) | - | (33,648) | (23,110) | |
| Deferred income tax expense | 396 | 842 | - | 375 | 957 | 1,117 | - | |
| Profit for the period | 24,020 | 30,344 | - | 24,909 | - | 94,443 | 66,026 | |
| Mining & Processing | ||||||||
| Ore mined (t) | 1,583,876 | 2,102,336 | - | 2,648,661 | - | 6,384,891 | 7,078,621 | - |
| Waste to ore ratio | 0.39 | 0.37 | 0.20 | 0.34 | 0.24 | |||
| Plant Feed (t) | 1,630,972 | 1,885,971 | - | 1,861,103 | - | 5,610,262 | 5,807,416 | - |
| Grade (g/t) | 0.41 | 0.42 | - | 0.46 | - | 0.43 | 0.43 | - |
| Recovery (%) | 60.7% | 9.2 p.p. | -3.7 p.p. | -10.5 p.p. | ||||
Production: Minosa’s Q3 2026 production totaled 13,344 GEO, -
In 9M 2026, production was 45,027 GEO, -
Net Revenue: was US
Costs: COGS was US
Following the shape of the quarter, in 9M 2026, Cash Cost was US
Expenses: G&A was US
Profitability: Adjusted EBITDA was US
3.4 Almas
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Production (GEO) | 14,264 | 16,130 | - | 15,088 | - | 46,232 | 41,107 | |
| Sales (GEO) | 14,264 | 17,921 | - | 15,089 | - | 46,232 | 41,107 | |
| Cash Cost (US$/GEO) | 1,239 | 1,156 | 986 | 1,196 | 1,069 | |||
| AISC (US$/GEO) | 1,722 | 1,626 | 1,128 | 1,580 | 1,223 | |||
| Net Revenue | 60,362 | 79,322 | - | 51,329 | 208,377 | 130,207 | ||
| Cost of goods sold | (21,755) | (25,105) | - | (18,147) | (68,530) | (52,697) | ||
| Gross Profit | 38,607 | 54,217 | - | 33,182 | 139,847 | 77,510 | ||
| Expenses | 1,148 | (4,037) | n.a. | (1,600) | n.a. | (4,937) | (4,564) | |
| General and administrative expenses | (927) | (1,041) | - | (1,107) | - | (3,105) | (3,385) | - |
| Exploration expenses | (635) | (1,407) | - | (488) | (2,963) | (1,148) | ||
| Other income (expenses) | 2,710 | (1,589) | n.a. | (5) | n.a. | 1,131 | (31) | n.a. |
| EBIT | 39,755 | 50,180 | - | 31,582 | 134,910 | 72,946 | ||
| Adjusted EBITDA | 41,130 | 56,159 | - | 34,525 | 147,009 | 81,661 | ||
| Financial Result | (7) | (7,168) | - | (2,421) | - | (8,884) | (10,609) | - |
| Financial Income | 275 | 246 | 1,156 | - | 838 | 3,439 | - | |
| Financial expenses | (282) | (7,414) | - | (3,577) | - | (9,722) | (14,048) | - |
| Profit before income taxes | 39,748 | 43,012 | - | 29,161 | 126,026 | 62,337 | ||
| Total taxes | (4,189) | 11,067 | n.a. | (8,478) | - | 3,892 | (14,461) | n.a. |
| Current income tax expense | (7,757) | 12,493 | n.a. | (9,614) | - | (2,854) | (22,713) | - |
| Deferred income tax expense | 3,568 | (1,426) | n.a. | 1,136 | 6,746 | 8,252 | - | |
| Profit for the period | 35,559 | 54,079 | - | 20,683 | 129,918 | 47,876 | ||
| Mining & Processing | ||||||||
| Total mined (t) | 6,920,822 | 5,865,242 | 6,129,009 | 17,249,621 | 14,703,886 | |||
| Waste to ore ratio | 6.79 | 6.53 | 4.44 | 6.62 | 5.47 | |||
| Ore plant feed (t) | 675,373 | 655,226 | 514,927 | 1,890,943 | 1,451,358 | |||
| Grade (g/t) | 0.74 | 0.87 | - | 1.01 | - | 0.85 | 1.00 | -15 |
| Recovery (%) | 87.5% | -0.3 p.p. | -0.4 p.p. | 0.2 p.p. | ||||
Production: Almas’ Q3 2026 production reached 14,264 GEO, -
In 9M 2026, production was 46,232 GEO, +
Net Revenue: was US
Costs: COGS was US
AISC was US
Expenses: G&A was US
Profitability: Adjusted EBITDA totaled US
3.5 Borborema
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 |
| Production (GEO) | 22,842 | 14,251 | 10,219 | 54,194 | ||
| Sales (GEO) | 22,454 | 14,539 | 11,228 | 53,601 | ||
| Cash Cost (US$/GEO) | 1,070 | 991 | 1,127 | - | 1,089 | |
| AISC (US$/GEO) | 1,261 | 1,102 | 1,237 | 1,216 | ||
| Net revenue | 95,263 | 63,242 | 38,982 | 240,493 | ||
| Cost of goods sold | (30,068) | (18,326) | (12,652) | (73,839) | ||
| Gross Profit | 65,195 | 44,916 | 26,330 | 166,654 | ||
| Expenses | (1,602) | (1,315) | (1,206) | (4,145) | ||
| General and administrative expenses | (1,124) | (1,061) | (869) | (3,200) | ||
| Exploration expenses | (476) | (583) | - | (317) | (1,270) | |
| Other income (expenses) | (2) | 329 | n.a. | (20) | n.a. | 325 |
| EBIT | 63,593 | 43,601 | 25,124 | 162,509 | ||
| Adjusted EBITDA | 69,781 | 47,297 | 25,144 | 178,017 | ||
| Financial Result | (657) | (9,117) | - | (232) | (19,295) | |
| Financial Income | 310 | 172 | 17 | n.a. | 702 | |
| Finance expenses | (967) | (9,289) | - | (249) | (19,997) | |
| EBT | 62,936 | 34,484 | 24,892 | 143,214 | ||
| Total taxes | (11,835) | (5,297) | (522) | (22,391) | ||
| Current income tax expense | (10,425) | (5,799) | (6,585) | (22,837) | ||
| Deferred income tax expense | (1,410) | 502 | n.a. | 6,063 | n.a. | 446 |
| Profit/(loss) for the period | 51,101 | 29,187 | 24,370 | 120,823 | ||
| Mining & Processing | ||||||
| Total mined (t) | 4,729,984 | 4,287,387 | 4,020,668 | 13,104,717 | ||
| Waste to ore ratio | 4.60 | 2.10 | 2.30 | 2.93 | ||
| Ore plant feed (t) | 492,083 | 429,988 | 341,165 | 1,330,181 | ||
| Grade (g/t) | 1.65 | 1.16 | 1.05 | 1.42 | ||
| Recovery (%) | 90.0% | -0.3 p.p. | 1.1 p.p. | |||
Production: Borborema’s Q3 2026 production totaled 22,842 GEO, a quarterly record, +
In 9M 2026, production was 54,194 GEO vs. 12,796 GEO in 9M 2025, as commercial production started in 2H 2025. Sales totaled 53,601 GEO.
Net Revenue was US
Costs: COGS was +
Expenses: G&A was US
Profitability: Adjusted EBITDA was US
3.6 MSG
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | 9M 2026 |
| Production (GEO) | 13,321 | 7,186 | 29,087 | |
| Sales (GEO) | 13,331 | 7,191 | 30,025 | |
| Cash Cost (US$/GEO) | 2,286 | 3,852 | - | 2,855 |
| AISC (US$/GEO) | 3,647 | 5,277 | - | 4,043 |
| Net revenue | 56,358 | 28,916 | 132,187 | |
| Cost of goods sold | (40,908) | (32,751) | (108,933) | |
| Gross Profit | 15,450 | (3,835) | n.a. | 23,254 |
| Expenses | (1,539) | (2,766) | - | (6,216) |
| General and administrative expenses | (1,647) | (2,412) | - | (5,941) |
| Exploration expenses | (116) | (215) | - | (360) |
| Other income (expenses) | 224 | (139) | n.a. | 85 |
| EBIT | 13,911 | (6,601) | n.a. | 17,038 |
| Adjusted EBITDA | 24,402 | (1,116) | n.a. | 40,726 |
| Financial Result | (239) | (4,884) | - | (2,694) |
| Financial Income | 1,135 | 52 | 1,229 | |
| Finance expenses | (1,374) | (4,936) | - | (3,923) |
| Profit before income taxes | 13,672 | (11,485) | n.a. | 14,344 |
| Total taxes | (3,724) | 3,402 | n.a. | (3,601) |
| Current income tax expense | (3,735) | 929 | n.a. | (7,283) |
| Deferred income tax expense | 11 | 2,473 | n.a. | 3,682 |
| Profit/(loss) for the period | 9,948 | (8,083) | n.a. | 10,743 |
| Mining & Processing | ||||
| Total mined (t) | 751,243 | 504,766 | 1,544,146 | |
| Waste to ore ratio | 0.78 | 0.70 | 0.70 | |
| Ore plant feed (t) | 381,060 | 297,009 | 866,502 | |
| Grade (g/t) | 1.19 | 0.90 | 1.17 | |
| Recovery (%) | 89.6% | 1.9 p.p. | ||
In Q3, MSG continued to advance its turnaround, with production up
Production: Q3 2026 production totaled 13,321 GEO, +
Net Revenue: Net Revenue was US
Costs: COGS was +
Expenses: G&A was US
Profitability: Adjusted EBITDA was US
4. Projects updates
Era Dorada
Construction Progress
Era Dorada continued to gain momentum during the quarter, reaching
In the underground mine, activity ramped up during the quarter. The mining contractor was mobilized, short-term delineation drilling commenced to support the 2028 mine plan, and the pilot drilling started at one of the ventilation raise. Mine infrastructure also advanced, including the temporary refrigeration plant, underground equipment deployment, waste-dump drainage and synchronization of the power generators.
This broader ramp-up has been achieved while maintaining a strong safety performance, with 622 days and more than 711,000 work hours without a lost-time injury. Overall, construction, underground mine development and supporting infrastructure are now advancing simultaneously across multiple fronts, on time and on budget.
Communities
Community integration continued to advance alongside construction. The project workforce reached 795 people, including 663 contractors, with
Community engagement remained active through Casa Era Dorada and the Development Roundtables. During September, eight Roundtable sessions were held and Casa Era Dorada recorded 199 interactions, including 137 employment applications. Local employment remained at the center of the community agenda, including initiatives to increase female participation in the workforce. The project achieved its target of 15 local women employed by the construction contractor, with five employees promoted.
The project also continued responding to community priorities, with
5. Cash Flow
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % |
| Adjusted EBITDA | 236,871 | 196,659 | 152,105 | 677,399 | 339,808 | |||
| (+) Exploration Expenses | 3,492 | 3,569 | - | 2,333 | 9,420 | 5,423 | ||
| (-) Sustaining Capex and Exploration Capex in mines in production | (39,826) | (30,111) | (14,335) | (90,196) | (40,377) | |||
| (+/-) ∆ Working Capital, Changes in Other Assets and Liabilities and Others | (20,019) | (7,494) | (26,033) | - | (71,974) | (37,092) | ||
| (-) Income Taxes Paid | (17,654) | (40,898) | - | (17,755) | - | (110,054) | (57,199) | |
| (-) Lease Payments | (5,721) | (4,246) | (4,551) | (15,387) | (13,912) | |||
| (-) Realized Losses on Gold Hedges | (33,602) | (37,249) | - | (17,130) | (104,176) | (34,869) | ||
| Recurring Free Cash Flow | 123,541 | 80,230 | 74,633 | 295,031 | 161,781 | |||
Recurring Free Cash Flow for the quarter was US
The chart below shows the change in cash position for the three- and nine-months ending September 30, 2026, from a management perspective:
Changes to the Cash Position Q2 2026 vs. Q3 2026 – Managerial View (US$ Million)
Changes to the Cash Position Q4 2025 vs. Q3 2026 – Managerial View (US$ Million)
Notes: “Adjusted Capex” includes Exploration and Sustaining Capex; “Changes in WC and others” includes changes in Other current and non-current assets and liabilities.
6. Investment
The Company’s consolidated Capex for Q3 2026 totaled US
- Expansion Capex: US
$55.2 million , mainly on Era Dorada, Almas and Borborema, where US$32.8 million was invested at Era Dorada, US$9.0 million at Almas and US$7.7 million at Borborema. Another US$1.4 million was invested at MSG. The remaining US$3.1 million was at Aranzazu and Minosa. US$1.1 million was invested in Projects. - Sustaining Capex: US
$35.8 million , of which US$13.1 million was invested by MSG, US$6.3 million at Apoena, US$5.7 million at Almas, US$5.4 million at Aranzazu and another US$5.2 million at Minosa and Borborema.
Exploration Capex: US$5.7 million , allocated to exploration activities. MSG led investment with US$2.1 million , followed by Other exploration projects with US$1.6 million and Apoena with US$1.3 million . Aranzazu, Minosa and Almas totaled US$0.6 million .
The Company’s consolidated Capex for 9M 2026 totaled US
- Expansion Capex: US
$131.7 million , mainly on Era Dorada, Apoena and Almas, where US$48.1 million was invested at Era Dorada, US$27.2 million at Apoena and US$20.3 million at Almas. Another US$17.8 million was invested at Borborema and US$6.2 million at MSG. The remaining US$8.4 million was at Aranzazu and Minosa. US$3.8 million was invested in Projects. - Sustaining Capex: US
$78.9 million , of which US$24.4 million was invested by MSG, US$18.9 million at Aranzazu, US$13.5 million at Almas and another US$22.1 million at Minosa, Apoena and Borborema. - Exploration Capex: US
$14.4 million , allocated to exploration activities. MSG led investment with US$4.3 million , followed by Apoena with US$4.1 million . Other exploration projects totaled US$3.1 million . Aranzazu, Minosa and Almas totaled US$2.9 million .
7. Gross and Net Debt
Total gross debt (short and long-term portion) was US
The Company’s cash position strengthened significantly in Q3 2026, rising
The Company’s Net Debt totaled US
Net Debt Breakdown
| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % |
| Loans and debentures (current) | 65,970 | 64,985 | 89,810 | - | |
| Loans and debentures (non-current) | 565,518 | 376,259 | 339,966 | ||
| Gross debt | 631,488 | 441,244 | 429,776 | ||
| Cash and cash equivalents | 418,245 | 248,322 | 351,414 | ||
| Restricted Cash | 3,609 | 3,492 | 0 | ||
| Derivative financial instrument (Swaps1) | 30,872 | 21,404 | 14,590 | ||
| Net Debt | 178,762 | 168,026 | 63,772 | ||
| Net Debt/LTM EBITDA | 0.20x | 0.21x | -0.01x | 0.15x | 0.05x |
_______________________________________
1 Almas, MSG and Borborema swaps considered.
8. Guidance vs. Actual2
| Gold equivalent ounces production ('000 GEO) – 2026 | |||||
| Low | High | 9M 2026 | 9M 2026 at Guidance metal prices | % | |
| Aranzazu | 68 | 76 | 58 | 52 | |
| Apoena | 37 | 44 | 20 | 20 | |
| Minosa | 63 | 70 | 45 | 45 | |
| Almas | 57 | 63 | 46 | 46 | |
| Borborema | 65 | 77 | 54 | 54 | |
| MSG | 50 | 60 | 29 | 29 | |
| Total | 340 | 390 | 253 | 246 | |
| Cash Cost per equivalent ounce of gold sold – 2026 | |||||
| Low | High | 9M 2026 | 9M 2026 at Guidance metal prices | % | |
| Aranzazu | 1,323 | 1,429 | 1,338 | 1,304 | |
| Apoena | 1,128 | 1,209 | 1,666 | 1,666 | |
| Minosa | 1,208 | 1,305 | 1,311 | 1,311 | |
| Almas | 1,059 | 1,135 | 1,196 | 1,196 | |
| Borborema | 1,009 | 1,089 | 1,089 | 1,089 | |
| Total ex-MSG | 1,151 | 1,238 | 1,273 | 1,265 | |
| MSG | 2,189 | 2,364 | 2,855 | 2,855 | |
| Total w/ MSG | 1,303 | 1,411 | 1,460 | 1,452 | |
| AISC per equivalent ounce of gold sold – 2026 | |||||
| Low | High | 9M 2026 | 9M 2026 at Guidance metal prices | % | |
| Aranzazu | 1,726 | 1,865 | 1,748 | 1,704 | |
| Apoena | 1,905 | 2,041 | 2,769 | 2,769 | |
| Minosa | 1,372 | 1,481 | 1,547 | 1,547 | |
| Almas | 1,415 | 1,516 | 1,580 | 1,580 | |
| Borborema | 1,177 | 1,271 | 1,216 | 1,216 | |
| Total ex-MSG | 1,488 | 1,602 | 1,636 | 1,625 | |
| MSG | 3,072 | 3,318 | 4,043 | 4,043 | |
| Total w/ MSG | 1,720 | 1,865 | 1,921 | 1,909 | |
| CAPEX – 2026 | ||||
| Low | High | 9M 2026 | % | |
| Sustaining | 105 | 123 | 79 | |
| Exploration | 19 | 25 | 14 | |
| Expansion | 262 | 314 | 132 | |
| Total | 386 | 462 | 225 | |
__________________________________________
2 Key Factors:
The Company’s future profitability, operating cash flow and financial position will be directly related to prevailing gold and copper prices. Key factors that influence the price of gold and copper include, among others, the supply and demand for gold and copper, the relative strength of currencies (especially the US dollar) and macroeconomic factors, such as current and future expectations for inflation and interest rates. Management believes that the economic environment in the short and medium term should remain relatively favorable with respect to commodity prices, albeit with continued volatility.
To reduce the risks associated with commodity prices and currency volatility, the Company will continue to assess and deploy hedging programs. For more information on this subject, please refer to the Reference Form.
Other key factors influencing profitability and operating cash flows are: production levels (affected by grades, ore quantities, process recoveries, labor, country stability and availability of facilities and equipment); production and processing costs (impacted by production levels, prices and the use of key consumables, labor, inflation and exchange rates), and other factors.
9. Shareholder Information
As of September 30, 2026, the Company had the following outstanding: 83,854,843 Common Shares, 1,262,887 stock options, and 82,785 deferred share units.
10. Attachments
10.1 Non-GAAP Performance Measures
Set out below are reconciliations for certain non-GAAP financial measures (including non-GAAP ratios) utilized by the Company in this Earnings Release: Adjusted EBITDA; Adjusted Net Income, cash operating costs per gold equivalent ounce sold; AISCs; Net Debt; and Adjusted EBITDA Margin, which are non-GAAP financial measures. These non-GAAP measures do not have any standardized meaning within IFRS and therefore may not be comparable to similar measures presented by other companies. The Company believes that these measures provide investors with additional information which is useful in evaluating the Company’s performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
A. Reconciliation from income for the quarter to Adjusted EBITDA:
(US$ thousand)
| (US$ thousand) | Q3 2026 | Q3 2025 | 9M 2026 | 9M 2025 |
| Profit / (Loss) for the period | 135,004 | 5,626 | 447,849 | (59,476) |
| Current income tax expense | 48,570 | 38,402 | 115,773 | 88,767 |
| Deferred income tax expense | (5,386) | (10,510) | (12,681) | (19,350) |
| Finance expense | 48,652 | 104,849 | 154,316 | 289,245 |
| Finance income | (22,203) | (2,284) | (120,000) | (5,439) |
| Other income (expense) | (3,053) | 822 | (7,515) | 1,515 |
| Depletion and amortization | 32,971 | 15,200 | 92,641 | 44,546 |
| Provision for contingent liabilities3 | 2,316 | – | 7,016 | – |
| Adjusted EBITDA | 236,871 | 152,105 | 677,399 | 339,808 |
B. Reconciliation from the consolidated financial statements to cash operating costs per gold equivalent ounce sold:
(US$ thousand)
| (US$ thousand) | Q3 2026 | Q3 2025 | 9M 2026 | 9M 2025 |
| Cost of goods sold | (163,346) | (98,223) | (461,614) | (268,096) |
| Depletion and amortization | 32,484 | 15,058 | 91,317 | 43,870 |
| Subtotal | (130,862) | (83,165) | (370,297) | (224,226) |
| Gold Equivalent Ounces sold | 93,794 | 74,907 | 253,576 | 197,850 |
| Cash costs per gold equivalent ounce sold¹ | 1,395 | 1,110 | 1,460 | 1,133 |
C. Reconciliation from the consolidated financial statements to all in sustaining costs per gold equivalent ounce sold:
(US$ thousand)
| (US$ thousand) | Q3 2026 | Q3 2025 | 9M 2026 | 9M 2025 |
| Cost of goods sold | (163,346) | (98,223) | (461,614) | (268,096) |
| Depletion and amortization | 32,484 | 15,058 | 91,317 | 43,870 |
| Subtotal | (130,862) | (83,165) | (370,297) | (224,226) |
| Adjusted capex | 39,826 | 14,196 | 90,196 | 40,240 |
| General and Administrative Expenses for the mines in production4 | 4,131 | 4,177 | 11,096 | 11,494 |
| Provision for contingent liabilities | 2,316 | – | 7,016 | – |
| Lease Payments | 6,090 | 3,041 | 8,432 | 7,490 |
| Subtotal | (183,226) | (104,580) | (487,038) | (283,450) |
| Gold Equivalent Ounces sold | 93,794 | 74,907 | 253,576 | 197,850 |
| All In Sustaining costs per ounce sold equivalent ounce sold5 | 1,953 | 1,396 | 1,921 | 1,433 |
__________________________________________
3 This provision refers to Apoena’s contingent liabilities, as mentioned in section “3.2 Apoena”.
D. Reconciliation from the consolidated financial statements to realized average gold price per ounce sold, net6:
(US$ thousand)
| (US$ thousand) | Q3 2026 | Q3 2025 | 9M 2026 | 9M 2025 |
| Gold Revenue, net of Sales Taxes | 296,432 | 180,738 | 870,895 | 420,208 |
| Ounces of gold sold | 70,543 | 53,393 | 196,344 | 133,590 |
| Realized average gold price per ounce sold, net | 4,202 | 3,385 | 4,436 | 3,146 |
E. Net Debt:
(US$ thousand)
| (US$ thousand) | Sep 2026 | Sep 2025 |
| Loans and debentures (current) | 65,970 | 89,810 |
| Loans and debentures (non-current) | 565,518 | 339,966 |
| Derivative Financial Instrument7 | (30,872) | (14,590) |
| Restricted Cash | (3,609) | – |
| Cash and Cash Equivalents | (418,245) | (351,414) |
| Net Debt | 178,762 | 63,772 |
__________________________________________
4 Not including Amortization & depletion
5 Considered all mines in production.
6 Realized average gold price per ounce sold, net is a non-GAAP financial measure with no standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. For further information and detailed reconciliations to the most directly comparable IFRS measures, see Section 10.1: Non-GAAP Performance Measures in this Earnings Release.
7 Derivative Financial Instrument includes the swap related to Almas, Borborema and MSG.
F. Adjusted EBITDA Margin8 (Adjusted EBITDA/Revenues):
(US$ thousand)
| (US$ thousand) | Q3 2026 | Q3 2025 | 9M 2026 | 9M 2025 |
| Net Revenue | 385,977 | 247,832 | 1,104,550 | 600,072 |
| Adjusted EBITDA | 236,871 | 152,105 | 677,399 | 339,808 |
| Adjusted EBITDA Margin (Adjusted EBITDA/Revenues) | ||||
G. Adjusted Net Income
(US$ thousand)
| (US$ thousand) | Q3 2026 | Q3 2025 | 9M 2026 | 9M 2025 |
| Profit/(Loss) for the period | 135,004 | 5,626 | 447,849 | (59,476) |
| Foreign exchange gain (loss) | 4,007 | (36) | (1,428) | (5,674) |
| Gain on derivative transactions | 12,729 | (75,252) | 114,637 | (199,766) |
| Loss on settlement of liability with equity instruments | - | – | - | (8,768) |
| Deferred taxes over non-monetary items | (2,940) | 12,242 | 12,100 | 22,323 |
| Adjusted Net Income | 121,208 | 68,672 | 322,540 | 132,409 |
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved by Farshid Ghazanfari, P.Geo., Geology and Mineral Resources Manager, an employee of Aura and a “qualified person” within the meaning of NI 43-101 and SK-1300.
About Aura 360° Mining
Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.
Aura is a company focused on the development and operation of gold and base metal projects in the Americas. The Company's six operating assets include the Minosa gold mine in Honduras; the Almas, Apoena, Borborema and MSG gold mines in Brazil; and the Aranzazu copper, gold, and silver mine in Mexico. Additionally, the Company owns Era Dorada, a gold project in Guatemala; Tolda Fria, a gold project in Colombia; and two projects in Brazil: Matupá, which is under development and the Carajás copper project in the Carajás region, in the exploration phase.
__________________________________________
8 Adjusted EBITDA Margin is a non-GAAP financial measure with no standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. For further information and detailed reconciliations to the most directly comparable IFRS measures, see Section 10.1: Non-GAAP Performance Measures in this Earnings Release.
CAUTIONARY NOTES AND ADDITIONAL INFORMATION
This Press Release, and the documents incorporated by reference herein, contain certain “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of applicable United States securities laws (together, “forward-looking information”). Forward-looking information relates to future events or future performance of the Company and reflect the Company’s current estimates, predictions, expectations or beliefs regarding future events and include, without limitation, statements with respect to: expected production from, and the further potential of the Company’s properties; the ability of the Company to achieve its long-term outlook and the anticipated timing and results thereof (including the guidance set forth herein); the ability to lower costs and increase production; the economic viability of a project; strategic plans, including the Company’s plans with respect to its properties; the amount of mineral reserves and mineral resources; probable mineral reserves; indicated mineral reserves; inferred mineral reserves; the potential conversion of indicated mineral resources into mineral reserves; the amount of future production over any period; capital expenditures and mine production costs; the outcome of mine permitting; other required permitting; information with respect to the future price of minerals; expected cash costs and AISCs; the Company’s ability expand exploration on its properties; the Company’s ability to obtain assay results; the Company’s exploration and development programs; estimated future expenses; exploration and development capital requirements; the amount of mining costs; cash operating costs; operating costs; expected grades and ounces of metals and minerals; expected processing recoveries; expected time frames; prices of metals and minerals; LOM of certain projects; expectations of gold hedging programs; the implementation of cultural initiatives; expected increases to fleet capacities; non-cash losses translating into cash losses; the ability to continue to finance planned growth; access to additional debt; and the repayment of outstanding balances on revolving credit facilities. Often, but not always, forward-looking information may be identified by the use of words such as “expects”, “anticipates”, “plans”, “projects”, “forecasts”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information in this Press Release is based upon, without limitation, the following estimates and assumptions: the ability of the Company to successfully achieve business objectives; the presence of and continuity of metals at the Company’s projects at modeled grades; gold and copper price volatility; the capacities of various machinery and equipment; the availability of personnel, machinery and equipment at estimated prices; exchange rates; metals and minerals sales prices; cash costs and AISCs; the Company’s ability to expand operations; the Company’s ability to obtain assay results; appropriate discount rates; tax rates and royalty rates applicable to the mining operations; cash operating costs and other financial metrics; anticipated mining losses and dilution; metals recovery rates; reasonable contingency requirements; the Company’s expected ability to develop adequate infrastructure and that the cost of doing so will be reasonable; the Company’s expected ability to develop its projects including financing such projects; and receipt of regulatory approvals on acceptable terms.
Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking information. Specific reference is made to the Company’s most recent Annual Report on Form 20-F filed with the SEC for a discussion of some of the factors underlying forward-looking information, which include, without limitation: gold and copper or certain other commodity price volatility; changes in debt and equity markets; the uncertainties involved in obtaining and interpreting geological data; increases in costs; environmental compliance and changes in environmental legislation and regulation; interest rate and exchange rate fluctuations; general economic conditions; political stability; and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking information.
All forward-looking information herein is qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether because of new information or future events or otherwise, except as may be required by law. If the Company does update any forward-looking information, no inference should be drawn that it will make additional updates with respect to such or other forward-looking information.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4b2ab6f5-ce89-4193-b33a-17ecc63e694a
https://www.globenewswire.com/NewsRoom/AttachmentNg/3adb87f9-73fd-4fa6-8b7d-859532afff95
For more information, please contact: Investor Relations ri@auraminerals.com www.auraminerals.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Aura Minerals’ Q3 2026 financial results?
Aura generated US$386.0 million in revenue and US$135.0 million in net income in Q3 2026. Revenue increased 56% year over year. Adjusted EBITDA reached US$236.9 million, up 56%, while production reached a record 95,557 gold-equivalent ounces.
How much is Aura Minerals paying for its mining fleet acquisition?
The agreed enterprise value is R$612 million, approximately US$118 million at the stated exchange rate. Up to R$250 million will be paid in cash, with the remainder comprising assumed equipment lease financing and contingent payments. The acquisition covers fleet operations at Apoena, Almas and Borborema.
Why did Aura Minerals’ net income fall sequentially in Q3 2026?
The sequential decline mainly reflected lower unrealized gains on gold derivatives. Those gains were US$12.7 million in Q3 2026, compared with US$126.0 million in Q2 2026. Net income fell 38% sequentially, while adjusted net income increased 24%.