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[ToTheMoon]

ORA.TO - ORA - Aura Minerals Inc. - Google Finance

They just bought 3 gold-producing mines from YAMANA and announced they would raise C$100.1 million in a bought-deal financing to fund the acquisition of three gold mines in Honduras and Brazil.

Balance Sheet is very healthy...
Current Assets: 42.20
Current Liabilities: 2.29

Volume has been way up and it appears that the big guys are getting in....

It has held up nicely through the pullback this week. Could be nearing a good entry point.


Aura Minerals Inc. (Aura Minerals) is a Canada-based company. The Company focuses on the acquisition, exploration, development and operation of mining properties in the America. Aura Minerals owns the Aranzazu copper-gold-silver mine in Zacatecas, Mexico (the Aranzazu Project) and is developing Serrote da Laje copper-gold-iron ore deposit (the Serrote Deposit) at its wholly owned Arapiraca copper-gold-iron ore project (the Arapiraca Project) in the State of Alagoas, Brazil. The Company also has exploration land holdings in Brazil, including iron ore and nickel targets in the Carajas region, State of Para, Brazil. On June 5, 2008, the Company acquired the Aranzazu Project in Zacatecas, Mexico. The Aranzazu Project consists of approximately 12,960 hectares of land centred on the Arroyos Azules underground mine.

[Miles]

Nice gold play here...Looks good for a double in the long run. Their balance sheet is pretty impressive and the $100m financing shows they are a pretty safe bet IMO.

Will watch for a pullback to mid 0.5X.

[BuffaloBull]

Actually I'd buy Yamana if I had a choice, AUY, from what I understood Yamana sold those mines because those were there lesser producing mines and scattered out. Now AUY has received 90 million in cash, 70 million in deferred cash, and 40 million in Aura common shares. According to the press release, this should cut operating costs and help provide funding for developing their own mine. Anytime a company can find easy funding without diluting is great news. I may buy some in a week. Here is the PR. Also AUY is much more undervalued to other gold mining companies.

http://finance.yahoo.com/news/Yamana...html?x=0&.v=10

[foldhero]

I believe this stock just had a reverse stock split(5-1). I just can't find the announcement anywhere! Can somebody please help to point out where I can find the information?