Aura Minerals, a gold and copper miner with operations throughout Latin America, raised $196 million in its Nasdaq IPO by offering 8.1 million shares at $24.25. At pricing, the company is valued at $2 billion.
Aura Minerals previously traded on the OTCQX (ORAAF), and will continue to trade internationally in Canada (TSX: ORA) and Brazil (B3: AURA33). Its Toronto-listed stock has gained more than 100% year to date. Another Nasdaq uplisting in the materials sector, tungsten producer Almonty Industries (ALM), began trading earlier this week on Monday, and had returned 8.4% by Tuesday's close.
The gold and copper mining company highlights its combination of strategic acquisitions, mine expansions, and development and efficiency improvements. It operates four wholly-owned operating mines and one mine in ramp-up phase. Its operating mines are the Aranzazu copper-gold-silver mine in Mexico, the Apoena and Almas gold mines in Brazil, and the Minosa gold mine in Honduras. It primarily generates revenue from gold and to a lesser extent copper, with operations roughly evenly split between Brazil, Mexico, and Honduras.
The Coconut Grove, FL-based company will trade on the Nasdaq under the symbol AUGO. BofA Securities, Goldman Sachs, BTG Pactual, and Itau BBA acted as joint bookrunners on the deal.
