Aura Minerals Inc (NAS:AUGO)

Q2 2026 Aura Minerals Inc Earnings Call Transcript

Aug 6, 2026 / 02:00 PM GMT

Release Date Price: $65.63 (-0.20%)

Transcript

Key Points

Positve

Aura Minerals Inc (AUGO) reported record-high net income of $218 million for Q2 2026, driven by strong operational results and non-cash gains from gold derivatives.
The company has increased its accumulated last-12-month EBITDA for 12 consecutive quarters, reaching over $800 million, demonstrating consistent financial growth.
Aura Minerals Inc (AUGO) announced a new $200 million share buyback program and a $60 million dividend, underscoring its commitment to returning capital to shareholders.
The MSG mine turnaround is progressing well, with underground development speeds 80-90% above last year's levels, positioning the mine for a significant production increase to ~80,000 ounces in 2027.
The company's growth projects, including Borborema and Almas expansions, are on track, with Borborema debottlenecking expected to boost production in Q4 2026.
Aura Minerals Inc (AUGO) has significantly increased resources and reserves at MSG, doubling reserves to 753,000 ounces and increasing measured and indicated resources to 1.8 million ounces since acquisition.

Negative

Aura Minerals Inc (AUGO) experienced weaker production in Q2 2026 compared to Q1, primarily due to mine sequencing and the MSG turnaround, leading to lower revenues of $236 million.
All-in sustaining cash costs were elevated at close to $2,000 per ounce, pushed up by the MSG turnaround; excluding MSG, costs would have been $1,600 per ounce.
The company faced realized losses of $37 million on gold hedges during the quarter, which reduced recurring cash flows; excluding these losses, recurring cash flow would have been $120 million.
Production at Minosa decreased from 17,000 to 14,000 ounces due to challenges with stacking pads and longer recovery times, with expectations of continued weakness in Q3.
The company noted that unfavorable exchange rates in Brazil and Mexico, along with higher oil and chemical prices, are putting pressure on costs, making it harder to meet guidance.
Aura Minerals Inc (AUGO) acknowledged that MSG production in Q2 was lower than expected due to prioritizing underground development over short-term output, with a risk of ending the year at the lower end of guidance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AUGO.OQ - Aura Minerals Inc
Q2 2026 Aura Minerals Inc Earnings Call
Aug 06, 2026 / 02:00PM GMT

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Presentation
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We would like to inform that all attendees will only be listening to the conference during the presentation and then we will start the questions and answers section when further instructions will be provided.

Before proceeding, we would like to clarify that any statements that may be made during this conference call regarding the company's business prospects, operational and financial projections and goals are the beliefs and assumptions of Aura Executive Board and the current information available to the company. These statements may involve risks and uncertainties as they relate to future events and therefore depend on circumstances that may or may not occur.

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