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Copper|Gold
Copper|Gold
copper|gold

Gold miner Aura Minerals seeks $210m US listing

Proceeds will be used to fund the cash component of the acquisition of the Serra Grande mine from AngloGold Ashanti.

Proceeds will be used to fund the cash component of the acquisition of the Serra Grande mine from AngloGold Ashanti.

8th July 2025

By: Bloomberg

  

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Aura Minerals is seeking to raise about $210-million in a US listing, as the gold and copper miner looks to expand its investor base.

The company, which already trades on exchanges in Canada and Brazil, will offer 8.1-million shares in the deal, according to a filing Monday with the US Securities and Exchange Commission. The listing is set to price on July 15, according to terms of the deal seen by Bloomberg News.

Aura will determine the offer price relative to the closing price of its Toronto Stock Exchange-listed shares on the day before the pricing date, the filing shows. At the close on Monday, that would value the shares offered at about $210-million, according to a statement.

The market value of Coconut Grove, Florida-based Aura has more than doubled this year, climbing to C$2.7-billion ($2-billion) in Toronto thanks in part to gold prices that have risen 41% in the same period.

Proceeds from the company’s US listing will be used for purposes including funding the $76-million cash component of the acquisition of Mineração Serra Grande from AngloGold Ashanti, announced in June. MSG is the owner and operator of the Serra Grande gold mine in Brazil, the filing shows.

Founder Paulo Carlos de Brito beneficially owns 39.8-million common shares of Aura, or about 53% of the outstanding stock, the filing shows.

Aura has mines in Mexico, Honduras, Colombia and Brazil, the filing shows. In the 12 months ending March 31, it derived about two-thirds of its revenue from gold and the remaining third from gold-copper concentrate.

Aura had a net loss of $73.2-million in the three months ending March 31 on revenue of $161.8-million, compared with a net loss of $9.2-million on revenue of $132.1-million a year earlier, according to data compiled by Bloomberg.

The offering is being led by Bank of America Corp. and Goldman Sachs Group Inc. The company plans for its US shares to trade on the Nasdaq Global Select Market under the symbol AUGO.

 

Edited by Bloomberg

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