Aura Reports Updated Mineral Reserves and Mineral Resources For The Year-Ended 2025, Highlighting year of Significant Growth in Mineral Reserve and Resource Portfolio
Aura Minerals scales toward 600k GEO target as Borborema road deal unlocks massive reserve expansion
The most recent news (April 1, 2026) reports a massive update to Aura’s Mineral Reserves and Resources for year-end 2025. Proven & Probable (P&P) reserves jumped to 7.22 million gold-equivalent ounces (GEO), more than doubling from the previous year. This growth was primarily driven by the integration of the Mineração Serra Grande (MSG) project, the addition of Era Dorada, and a significant conversion of resources to reserves at Borborema following a federal road relocation agreement. Inferred resources also tripled to 3.92 million GEO. The company utilized higher metal price assumptions ($2,600/oz Au vs. $2,000/oz) to reflect the current market environment.
The news is Routine - Positive. While the 111% increase in reserves is numerically staggering, it is the materialization of a well-telegraphed strategy involving the MSG acquisition (closed Dec 2025) and the Borborema road agreement (announced Feb 2026). - Reserve Growth: The jump from 3.4M to 7.2M GEO validates management's "Aura 360" strategy and M&A execution. - Borborema Unlock: The road relocation agreement is the "key" that unlocked 670 koz of gold, extending mine life and improving project economics. - Valuation Support: Tripling Inferred resources provides a long-term pipeline that supports the company's goal of exceeding 600k GEO production annually. - Risk Note: The reserve increase relies on a $2,600 gold price assumption. While currently supported by spot prices, it reduces the "margin of safety" compared to the previous $2,000 assumption if the market corrects.
Aura Minerals is a multi-national gold and copper producer with operations in Brazil, Mexico, and Honduras. - Flagship Project: Borborema (Brazil). It recently achieved commercial production (Sept 2025) and is expected to be the company's second-largest producer. The project features a 20-year mine life with an NPV of US$612.5M. - Growth Pipeline: Era Dorada (Guatemala) and Matupá (Brazil) are the next pillars to reach the 600k GEO annual production target.