Aura beat with a 27% quarter-over-quarter increase in production to 96,000 gold-equivalent ounces, and the stock rose 22.1% after earnings. Management reiterated full-year production guidance and expects further improvement in Q4.
- Revenue increased 15% quarter over quarter to $386 million; EBITDA was $237 million.
- Nine-month production reached 253,000 ounces. The company reiterated full-year guidance of 340,000–390,000 ounces.
- All-in sustaining cash cost was $1,953. Management said Q4 improvements should keep full-year costs within guidance, despite costs currently running above it.
- Recurring free cash flow was $124 million. Aura declared a $0.72-per-share dividend and completed $10 million of share buybacks during the quarter.
- Aura raised $200 million through a syndicated loan, bringing cash above $400 million; Era Dorada remains on time and on budget, according to management.
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