05:56 AM EDT, 07/04/2025 (MT Newswires) -- Aura Minerals (ORA.TO) late on Thursday released second-quarter preliminary production results from its operating mines and entered into a subscription agreement with Altamira Gold (ALTA.V).

Total production from the Aranzazu, Apoena, Minosa, Almas and Borborema mines amounted to 64,033 gold equivalent ounces, a 7% increase from the previous quarter and in line with year-ago levels.

At constant prices, Aura's production rose 9% compared with both the first quarter of 2025 and the second quarter of 2024.

Compared with year-ago levels, output from Aranzazu fell 10% to 22,281 GEOs, Apoena output declined 17% to 8,219 GEOs and Minosa production dropped 6% to 18,039 GEOs. Production from Almas jumped 22% to 12,917 GEOs.

The Borborema mine produced 2,577 GEOs following its first gold pour. The company said Borborema remains on track to declare commercial production by the end of the third quarter.

Separately, Aura said it signed a subscription agreement with Altamira, under which it acquired 6 million units of Altamira in a non-brokered private placement at $0.10 per unit for a total of $600,000.

Each unit consists of one common share and one-half of one common share purchase warrant exercisable to acquire one Altamira share at an exercise price of $0.15 apiece until June 30, 2027.

Before the agreement, Aura held 24 million shares and 24 million warrants, representing about 20.3% of the issued and outstanding shares on a fully diluted basis.

Upon closing of the private placement, Aura holds 30 million shares and 27 million warrants, representing approximately 19.5% of the shares on a fully diluted basis.

Aura said it acquired the units as an investment given the exploration potential of Altamira.

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