ROAD TOWN,
Aura remains committed through the Pandemic to uphold its most important values, which, under the 360° Mining concept, include its commitment to act responsibly, to continue to build respectful and sustainable relationships with the communities around which it operates and to meet the highest safety standards for its employees. Through the Pandemic to date, Aura has undertaken a wide range of measures not only to help curtail the spread of COVID-19, but also to actively contribute to improving conditions for the surrounding communities where it operates.
As previously announced, mining operations at
At this time, the Company expects that the interruption at
Notwithstanding its operational challenges, Aura has continued to give back to the local community, having donated food to more than 1,000 families, medicine and medical supplies to 6 local health centers, biosafety equipment to 8 health control checkpoints and other donations of personal protective equipment to the national police force, local reporters and nursing homes, among others. Meanwhile, together with local community leadership, authorities, our employees and other local businesses, Aura has been working on a detailed plan for the gradual and safe restart of operational activities when permitted. Aura has also implemented a series of measures to ensure safe conditions for our workers and restricted high-risk individuals from entering the site, including the provision of health questionnaires, temperature scanning, mandatory quarantine for high-risk individuals and the development of a software tracking system that will provide reliable information on interactions among employees at the site called “Aura Tracker”.
On
Despite these operational restrictions, there has not been a material impact on the mine’s operational or financial performance to date due to accumulated inventory at the site. Aura continues to monitor the situation closely and will keep the market informed on a timely basis.
In addition to implementing all measures required by the governmental decree, the Company has also helped implement measures together with municipal authorities for Concepcion del Oro such as a screening checkpoint for all those entering the city and contracting the local workforce to produce additional face masks for ongoing essential activities. In addition, Aura is assisting with other initiatives designed to support the community in this difficult time, including by providing canteens, transportation vehicles and health questionnaires, facilitating temperature scanning and the use of screening checkpoints, hiring additional medical personnel and supplying COVID-19 test kits.
Ernesto/Pau-a -
Our Ernesto/Pau-a-Pique mine has been allowed to continue operations as governmental authorities have deemed mining as an essential industry. Despite this, the broader Pandemic impact has led to certain shipping delays and the need to establish new export routes for product coming out of the mine, which has been resolved to date. Aura continues to monitor the situation closely and does not anticipate there will be a material impact on the mine’s expected operational or financial performance as the second quarter of 2020 progresses.
In addition, Aura has implemented a series of initiatives to reduce risks among its employees at the mine, which includes the implementation of Aura Tracker; reducing its workforce on site by 20% and allowing such personnel to work from home, increasing the number of buses transporting employees to allow for a 50% reduction in seats, acquiring 2,000 COVID-19 test kits and mandating the use of masks on site at the mine. In addition, Aura extended its work with local communities and has donated masks and gloves to the state police force and personnel at the local detention center, in addition to purchasing 6,000 masks from local projects which were also donated and distributed to families in need, among other initiatives.
Aura’s Other Projects and Personnel
At this time, our exploration activities for the Almas, Matupa and
With respect to the
Liquidity
Although the operational challenges arising from the Pandemic have negatively impacted cash flows, Aura’s solid capital structure and strong working relationships with financial institutions in the jurisdictions in which it operates has allowed the Company to maintain strong liquidity through the Pandemic.
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which include, but are not limited to, the duration or extent of the restrictions and suspensions imposed by governmental authorities as a result of the Pandemic, and the effect that any such restrictions or suspensions may have on our operations and our financial and operational results; the ability of the Company to successfully maintain operations at its producing assets, or to restart these operations efficiently or economically, or at all; the impact of the Pandemic on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business; and the ability of the Company to continue as a going concern.
Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict or control, including any changes to the conditions and limitations imposed by governmental authorities in response to the Pandemic and the duration of such conditions or limitations, could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.
All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
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 mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the
For further information, please visit Aura’s website at www.auraminerals.com or contact:
President & CEO
305-239-9332
Source:
2020 GlobeNewswire, Inc., source