Aura Completes Acquisition of Bluestone
Deal News | Jan 13, 2025 | Globenewswire
Aura Minerals Inc. has finalized its acquisition of Bluestone Resources Inc. through a plan of arrangement. The transaction involves a cash payment of approximately C$26.25 million and issuance of Aura shares. Bluestone shareholders have received contingent value rights with potential cash payments contingent upon the Cerro Blanco project's commercial production. Bluestone shares will be delisted from the TSX Venture Exchange and Aura is pursuing to cease Bluestone's reporting issuer status. Rodrigo Barbosa, CEO of Aura, highlighted the strategic importance of the Cerro Blanco gold deposit and the Mita Geothermal project in Guatemala, signaling plans for optimization and development under Aura's 360 Mining approach. Uncertainties include a notice by the Guatemalan Ministry of Environment challenging the Cerro Blanco permit, legal and geopolitical risks, along with the inherent uncertainties in the mining industry.
Sectors
- Mining and Metals
- Renewable Energy
Geography
- British Columbia, Canada – The legal jurisdiction for Aura’s acquisition plan under the Business Corporations Act.
- Guatemala – Location of Bluestone’s key project, Cerro Blanco, and the Mita Geothermal project.
- British Virgin Islands – Aura Minerals’ reporting location and base of operations.
Industry
- Mining and Metals – Involves Aura’s activities in gold and copper production and development projects, including the newly acquired Cerro Blanco project.
- Renewable Energy – Bluestone’s Mita Geothermal project represents an advanced-stage renewable energy project that can produce up to 50 megawatts.
Financials
- C$26,255,313 – Cash paid by Aura Minerals for the acquisition of Bluestone Resources.
- 1,007,186 – Number of Aura shares issued as part of the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aura Minerals Inc. | Acquirer | Company | A mid-tier gold and copper production company with operations in the Americas. |
| Bluestone Resources Inc. | Target | Company | Owner of Cerro Blanco, a gold project in Guatemala, and the Mita Geothermal project. |
| Rodrigo Barbosa | CEO | Person | Chief Executive Officer of Aura Minerals Inc. |
| Lundin Family | Investor | People | Esteemed mining investors joining Aura’s shareholder base through this deal. |