Impact: Positive
Aura announced that it plans to acquire a 100% interest in Big River Gold (ASX:BRV, Not Rated) and form a 80%/20% JV with Dundee Resources, a subsidiary of Dundee Corp. (TSX:DC.A, Not Rated). Dundee holds 19.3% of all issued Big River shares and has entered into an agreement with Aura, whereby Dundee would ultimately retain a 20% indirect interest in Big River. Overall, we view this acquisition positively as it adds another development stage asset to Aura’s portfolio and could help grow its production profile in the near future. Additionally, we note that the Borborema project is located in Brazil, a favorable jurisdiction for mining and one that Aura already has a strong presence in with its EPP mine complex, and its Almas and Matupa development projects.
