Aura Minerals secures US$31 million to fund construction of Borborema gold project in Brazil

On December 20, 2023, Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) ("Aura") announced that, Borborema Inc., a wholly owned subsidiary and indirect owner of Aura’s Borborema gold project in Rio Grande do Norte State, Brazil, had closed its previously announced agreement with Gold Royalty Corp. and had received cash proceeds of US$31 million to develop the Borborema project.

The US$31 million in proceeds is composed of US$21 million from the sale of a net smelter return royalty over the Borborema project and US$10 million from a gold-linked loan.

Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in Central and South America.

Gowling WLG advised Aura with respect to these two agreements with a team led by France Tenaille, supported by Ian Mitchell, Erik Goldsilver, Lee Sykes and Chris Porter.