06:28 AM EDT, 05/07/2024 (MT Newswires) -- Aura Minerals ( ORAAF ) overnight Monday reported a 45% increase in first-quarter adjusted EBITDA as total production grew 28%.

First-quarter adjusted EBITDA rose to US$53.2 million from US$36.6 million. Net revenue increased to US$132.1 million from US$97 million.

Aura attributed the EBITDA increase to higher gold prices, lower costs and higher sales volumes.

Total production came in at 68,187 gold equivalent ounces (GEO), rising from 54,368 GEO.

The company said it is on track to meet its 2024 production guidance of 244,000 to 292,000 GEO.