Latest News
Aura Minerals Closes Big River Gold Acquisition
Friday 23 September 2022

BVI-based gold and copper production company Aura Minerals Inc. (TSX: ORA) (B3: AURA33) has closed the acquisition of Big River Gold Ltd, the company said.

This deal was announced in April.

Aura acquired 100% of Big River and formed an 80%/20% joint venture with Dundee Resources.

Big River Shareholders (other than Dundee Resources) received AUD 0.36 in cash consideration for each Big River Share held, which values Big River at a purchase price of approximately AUD 91.7m (USD 139.32m).

Dundee Resources, a 19.3% Big River shareholder, executed a Cooperation and Commitment Deed with Aura pursuant to which Dundee Resources will ultimately hold a 20.0% indirect interest in Big River

Moving forward, the Borborema Gold Project, located in Brazil, being Big River's sole asset, will be held pursuant to a joint venture among Aura and Dundee Resources Ltd. with Aura holding an 80% interest and Dundee holding the remaining 20% interest.

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

The company's producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico.

In addition, the company has three additional gold projects in Brazil, Almas, Borborema and Matupá, and one gold project in Colombia, Tolda Fria.

Canaccord Genuity Corp. acted as exclusive financial adviser, Gowling WLG (Canada) LLP acted as Canadian legal adviser, and King and Wood Mallesons acted as Australian legal adviser, to Aura.

Cassels Brock and Blackwell LLP acted as Canadian legal adviser, and Blackwall Legal LLP acted as Australian legal adviser, to Dundee Resources.

Big River appointed NextLevelCorporate as its financial advisor and MinterEllison as its legal advisor.
Date Published: 23/09/2022