Aura Minerals (ORA.TSX), a gold mining company that recently vaulted itself into a finite class of mid-tier gold producers with its acquisition of three producing gold mines from Yamana Gold (AUY), announced two new appointments to the company: Tom Ogryzlo to the Board of Directors and Britt Reid to Chief Operating Officer. Mr. Ogryzlo has more than 35 years of experience in the mining and engineering construction sectors; in the development, financing, design, construction and operation of mining, industrial and energy projects in numerous areas of the world, notably in Latin America. He has also held executive management positions in several mining and engineering companies with North and South American operations. Mr. Ogryzlo currently serves as Sr. VP of Latin American Operations for Ram Energy Corp. He has previously served as President and CEO of Polaris Geothermal Inc., a geothermal power producer, President& CEO of Black Hawk Mining, a gold producer, President of Kilborn SNC-Lavalin, a large engineering contractor, and President of Cerro Matoso S.A., a large ferro nickel producer. Mr. Ogryzlo has also served on the board of directors of many public companies, including Polaris Geothermal Inc. (RPG.TSX), Franco-Nevada Mining (FNV.TSX), Baja Mining (BAJ.TSX) and Vista Gold (VGZ).
Mr. Reid has more than 30 years of mine operating and management experience in North, Central and South America. In his previous position Mr. Reid served as Chief Operating Officer for North American Tungsten Corporation Ltd., where he oversaw all operational and project activities at the Cantung Mine and Mactung Project, in northern Canada. Prior to that he served as Vice President Mining Operations for Aur Resources Inc., responsible for all operational and investment activities at the Quebrada Blanca and Carmen de Andacollo Copper Mines in Chile, South America.
Patrick Downey, Aura Minerals’ President and CEO, commented that “We are extremely pleased to have people of the caliber of Britt and Tom join the Aura Minerals team. Britt’s operating experience in South America including Brazil, Chile and Honduras will be invaluable as we continue to expand our current operations and assume control of Sao Francisco and Sao Vicente Gold Mines in Brazil. Tom brings many years of mining and business experience in Latin America to the Board and this again will be invaluable as the Company continues to look for growth opportunities in this region. Britt will be replacing Mr. Tony George whom I and the Board would like to thank for his contributions to the Company over the past two years, particularly for his efforts in moving the Company through its transition from an exploration/development company to an intermediate gold producer, which will soon have operating mines in Mexico, Honduras and Brazil.”
The addition of two senior level managers with extensive operational experience is a strong indication of the commitment that Aura Minerals is making toward optimizing its gold mining business. Aura Minerals is a Canadian based gold mining company that owns the Aranzazu copper-gold-silver mine in Zacatecas, Mexico and is also developing its advanced stage Serrote da Laje copper-gold-iron ore deposit at its wholly-owned Arapiraca project in the State of Alagoas, Brazil. The company also has extensive exploration land holdings in Brazil, including iron ore and nickel targets in the Carajas region, State of Para, Brazil. In August of 2009 Aura closed the acquisition of the San Andres gold mine in Honduras from Yamana Gold, and is expected in early 2010 to assume control of the Sao Francisco and Sao Vicente gold mines in Brazil, the other two mines purchased from Yamana, pursuant to its agreement and subject to regulatory approvals. In mid-day trading, shares of ORA.TSX were up C$0.12 to C$3.27 while the gold price was up $14.60 to $1,059.95 per ounce.
