CANADA
simultaneously providing a reduction in operating costs . In May of 2014 , the Company released an updated NI 43-101 Resource Estimate for San Andres in which the Proven and Probable mineral reserves increased 44 % to 1.12M oz , with Measured and Indicated mineral resources also increasing slightly to 1.66M oz .
The Company ’ s largest producer of gold , at approximately 105,000 oz in 2013 , is the Sao Francisco gold mine located in western Mato Grosso State in Brazil . Although Sao Franciso is expected to wind down its operations in 2015 , the Company expects 2014 to be another strong year of production ( estimated 75,000 – 85,000 ) with continued decreases in cash costs , based upon a revised geological block model which has identified additional mineralization in the
“ We continue to pursue a number of options to realize the value of the project including reviewing a revised development and operating plan ”
– Jim Bannantine , Aura President and CEO
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