"In Q3 2025, Aura achieved a record production of 74,227 GEO at constant prices and an all-time high Adjusted EBITDA of US$152 million, contributing to a trailing twelve-month Adjusted EBITDA of US$419 million at an average realized gold price of US$3,068/oz. This performance, bolstered by a realized gold price of US$3,385/oz and Recurring Free Cash Flow of US$115 million in the quarter, up 91% from Q2 2025—was driven by strong operational results across our mines and the successful start of commercial production at Borborema in September 2025, built on time and on budget with zero Lost Time Incidents. Our cost discipline - AISC decreased by 4% compared to Q2 2025 - and Aura 360 commitment enabled us to maintain robust financial performance. We remain focused on delivering consistent shareholder value through our quarterly dividend, advancing the MSG acquisition, and achieving our 2025 production and cost guidance of 266,000-300,000 GEO," commented Rodrigo Barbosa President and CEO of Aura.
Operational & Financial Headlines Q3 2025 and 9M 2025
(US$ thousand)
Q3 2025
Q2 2025
QoQ Change %
Q3 2024
YoY Change%
9M 2025
9M 2024
Change %
Total Production (GEO)
74,227
64,033
16
%
68,246
9
%
198,346
200,759
-1
%
Total Sales (GEO)
74,907
62,452
20
%
67,069
12
%
197,850
200,517
-1
%
Net Revenue
247,832
190,436
30
%
156,157
59
%
600,072
422,646
42
%
Gross Profit
149,609
103,939
44
%
72,181
107
%
331,976
170,171
95
%
Gross Margin
60
%
55
%
6p.p.
46
%
14p.p.
55
%
40
%
15p.p.
Adjusted EBITDA
152,105
106,224
43
%
77,974
95
%
339,808
186,813
82
%
Adjusted EBITDA Margin
61
%
56
%
6p.p.
50
%
11p.p.
57
%
44
%
12p.p.
Net Income
5,626
8,147
-31
%
(11,923
)
-147
%
(59,476
)
(46,915
)
-27
%
Net Income Margin
2
%
4
%
-2p.p.
-8
%
10p.p.
-10
%
-11
%
1p.p.
Adjusted Net Income
68,672
36,834
86
%
21,650
217
%
132,409
44,630
197
%
Cash Cost (US$/GEO)
1,110
1,146
-3
%
987
12
%
1,133
1,022
11
%
All In Sustaining cost (US$/GEO)
1,396
1,449
-4
%
1,292
8
%
1,433
1,302
10
%
Operating Cash Flow
93,096
79,865
17
%
76,770
21
%
214,189
156,233
37
%
Net Debt/LTM EBITDA
0.15x
0.81x
-0.66x
0.63x
-0.48x
0.15x
0.63x
-0.48x
Total CAPEX
31,605
50,325
-37
%
60,483
-48
%
133,655
113,761
17
%
Except as otherwise noted in this document, references herein to "US$" or and "$" are to thousands of United States dollars
Headlines
Total production in Q3 2025 reached 74,227 gold equivalent ounces ("GEO"), 16% higher than Q2 2025 and also 9% higher when compared to Q3 2024 at current metal prices. At constant prices, Aura's quarterly production was a record high, increasing by 17% compared to Q2 2025 and increasing 15% over Q3 2024. This result was achieved mainly due to:
The increase production at Almas from 12,917 GEO in Q2 2025 to 15,088 GEO in Q3 2025 (+17%), due to higher ore processed volumes, reflecting the results of the plant expansion at Almas, and improved grades due to mine sequencing;
The first full quarter of production at Borborema and its achievement of commercial production, producing 10,219 GEO in Q3 2025 (vs. 2,577 GEO in Q2 2025); and
The reliable productions at Apoena, Aranzazu and Minosa, which, combined, remained stable in Q3 2025 compared to Q2 2025
In 9M 2025, the total production reached 198,346 GEO at current prices in line with the same period of 2024. At 2025 Production Guidance Prices, the 9M 2025 production was 203,592 GEO, 3% above 9M 2024, and on track to achieve the 2025 guidance.
Sales volumes were 74,907 in GEO this quarter, an increase of 10% compared to Q3 2024 and an increase of 20% compared to the previous quarter at current prices quarter, mainly as result of increase in production.
Net Revenues reached a record high of US$247,832 in Q3 2025, representing an increase of 59% compared to Q3 2024 and an increase of 30% when compared to Q2 2025, mainly due to higher gold price and the increase in sales volumes. In 9M 2025, revenues reached US$600,072, an increase of 42% compared to the same period of 2024.
Average net realized gold sale prices increased by 6% in Q3 2025 compared to Q2 2025, with an average of US$3,385/oz in the quarter. Compared to Q3 2024, average net realized gold sale prices increased 40% (US$2,413). In 9M 2025, average net realized gold sale prices reached US$3,146, a 43% increase when compared to 9M 2024.
Average copper sale prices increased 6% compared to Q2 2025, with an average of US$4.74/lb in the quarter and was 13% higher compared to the same period in 2024. In 9M 2025, average copper sale prices reached US$4.49, an 8% increase when compared to 9M 2024.
Adjusted EBITDA reached another record high of US$152,105 in Q3 2025, marking the fifth consecutive quarterly record reported by Aura. The increase was driven by a combination of higher metal prices, cash costs under control (as further explained below) and increase in production and sales volumes. When compared to Q3 2024, Adjusted EBITDA reached a 95% increase. In 9M 2025, Adjusted EBITDA increased by 82%, for the same reasons.
AISC for Q3 2025 was US$1,396/GEO, a decrease by 4% when compared to Q2 2025 (US$1,449/GEO), mainly due to better performance at Almas (AISC of US$ 1,128/GEO) due to higher ore processed and better grades and improved waste-to-ore ration due to mine sequencing, and as result of the start of operations at Borborema, which while yet in a ramp-up had a lower-than-average AISC profile and recorded an AISC of US$ 1,237/Oz. When compared to Q3 2024, the AISC increased 8% over Q3 2024 at current prices, mainly due to Aranzazu, which was negatively impacted by the conversion of copper into GEO due to the sharp increase in gold prices in the period . At constant Q3 2024 metal prices, AISC would have been in line compared to Q3 2024. In 9M 2025, AISC reached US$1,419, an 8% increase when compared to 9M 2024 at current prices and 3% increase in constant prices.
The Company's Net Debt reached US$63,772 by Q3 2025 a 77% decrease compared to Q2 2025 and also a decrease of 56% when compared to the same period of 2024, due to (i) higher cash position due to the net proceeds from Nasdaq IPO of US$200.1 million, (ii) strong Recurring Free Cash Flows, and (ii) the significant reduction in the CAPEX 18.7 million, from US$50.3 million, in Q2 2025 to US$31.6million, a 37% decrease, mostly due to the conclusion of the Borborema construction. The net debt-to-last 12 months Adjusted EBITDA ratio reduced to 0.15x at the end of Q3 2025, from 0.81x at the end of Q2 2025.
OTHER UPDATES:
Exercise of the Underwriters' Option to Purchase Additional Shares: In August 2025, Aura closed the sale of 897,134 common shares for approximately US$21.8 million as a result of the partial exercise of the underwriters' option to purchase additional shares granted to them in connection with the U.S. Initial Public Offering at the public offering price of US$24.25 per common share, less underwriting discounts and commissions.
Delist from Toronto Stock Exchange (TSX): On September 8th, 2025, Aura decided to pursue the Delisting of the Common Shares from the TSX following the completion of listing its Common Shares on Nasdaq on July 16th, 2025, along with its intention to consolidate the trading in the U.S. equity market, which the Company expects will improve its stock liquidity. This change was approved by the Brazilian Securities Commission ("Comissão de Valores Mobiliários" or "CVM"), since it does not affect the rights of holders of BDRs listed on the São Paulo Stock Exchange (B3 S.A., Brasil, Bolsa, Balcão) under the symbol "AURA33", which continued to be supported by Common Shares, listed on Nasdaq. This change took effect on September 5, 2025 and the shares were no longer traded on the TSX as of September 25, 2025.
Borborema commercial production: On September 23rd, 2025, Aura announced the beginning of Borborema gold mine commercial production. The Borborema mine mill operates above 80% of the design capacity, processing 4,500 tonnes per day, with recoveries consistently above 90% and ranging up to 92%. The mine sold in Q3 2025 a total of 10,095 GEO. Borborema is poised to become a cornerstone asset for Aura, anticipated to deliver the second highest annual gold production among the Company's five operating mines. Built in just 19 months with zero lost time incidents, the project exemplifies Aura's commitment to developing simple, scalable, and efficient operations. It also sets a benchmark in ESG performance, incorporating renewable energy sources and utilizing grey water from the local municipality.
Incentive Program for the Conversion of BDRs into Shares: In October 2025, Aura announced to the holders of the Company's Brazilian Depositary Receipts ("BDRs") the launch of the Incentive Program for the conversion of BDRs into common shares ("Incentive Program"), under which holders may request the conversion of their BDRs ("AURA33") into the underlying common shares ("AUGO") listed on Nasdaq ("common shares"), at a ratio of three to one, without being required to pay the applicable fees charged by Banco Bradesco. The Incentive Program is available for a fixed period of 32 days, from October 6, 2025, to November 6, 2025 ("Subsidy Period").
Results Teleconference:
Date: November 5, 2025
Time: 10 a.m. (Brasília) | 8 a.m. (New York and Toronto)
Link to access: Click here
2. Consolidated Financial Results
In terms of production and sales, for all assets except Aranzazu, references herein to "GEO" are equivalent to actual gold ounces.
2.1 Total Production and Sales (GEO)
(GEO)
Q3 2025
Q2 2025
QoQChange %
Q3 2024
YoYChange%
9M 2025
9M 2024
Change %
Production
Aranzazu
21,534
22,281
-3
%
24,486
-12
%
64,271
74,196
-13
%
Apoena
9,248
8,219
13
%
8,035
15
%
26,343
30,052
-12
%
Minosa
18,138
18,039
1
%
20,750
-13
%
53,831
59,078
-9
%
Almas
15,088
12,917
17
%
14,975
1
%
41,107
37,459
10
%
Borborema
10,219
2,577
297
%
0
N.A.
12,796
0
N.A.
Total
74,227
64,033
16
%
68,246
9
%
198,346
200,785
-1
%
(GEO)
Q3 2025
Q2 2025
QoQChange %
Q3 2024
YoYChange%
9M 2025
9M 2024
Change %
Sales
Aranzazu
21,514
22,290
-3
%
23,380
-8
%
64,260
74,269
-13
%
Apoena
9,249
8,219
13
%
7,957
16
%
26,876
29,075
-8
%
Minosa
17,827
17,836
0
%
20,757
-14
%
53,189
59,723
-11
%
Almas
15,089
12,917
17
%
14,975
1
%
41,107
37,450
10
%
Borborema
11,228
1,190
843
%
0
N.A.
12,418
0
N.A.
Total
74,907
62,452
20
%
67,069
12
%
197,850
200,517
-1
%
Applies the metal sale prices in Aranzazu realized during Q3 2025: Copper price = US$4.45/lb; Gold Price = US$3,477/oz; Silver Price = US$40.03/oz and Molybdenum Price = US$25.02/oz.
Total production in Q3 2025 reached 74,227 gold equivalent ounces ("GEO"), 16% higher than Q2 2025 and 9% higher when compared to Q3 2024 at current metal prices, mainly due to negative impact from the copper-to-GEO conversion at Aranzazu. At constant prices, Aura's quarterly production was record high, increasing by 17% compared to Q2 2025 and 15% above Q3 2024. When compared to the last quarter, the result was mainly attributable to stronger operational performance driven by higher ore processed volumes and improved grades at Almas and the production increase of Borborema.
During the quarter, Aura announced the beginning of commercial operation of Borborema, anticipated to be one of the Company's largest and lowest cash cost operations. In the quarter, Borborema's production totaled 10,219 GEO.
In 9M 2025, production reached 198,346 GEO, representing a 1% decline in current metal prices. At constant prices, which neutralize the effect of copper price fluctuations in the GEO conversion at Aranzazu, production had an increase of 5% over the 185,979 GEO produced in 9M 2024, also due to Borborema production and Almas improvements. At 2025 Production Guidance Prices, the 9M 2025 production was 203,592 GEO, 3% above 9M 2024, and on track to achieve the 2025 guidance.
At current metal prices, production in Q3 2025 represents 75% of the lower end and 66% of the upper end of the full-year guidance. At 2025 Production Guidance Prices, the 9M 2025 production was 203,592 GEO, representing 77% of the lower end and 68% of the upper end of the full-year guidance. This performance reinforces the Company's confidence in achieving its 2025 guidance.
2.2. Net Revenue
(US$ thousand)
Q3 2025
Q2 2025
QoQChange %
Q3 2024
YoYChange %
9M 2025
9M 2024
Change %
Aranzazu
67,094
62,508
36
%
50,721
32
%
179,864
144,123
25
%
Apoena
31,223
26,711
67
%
19,250
64
%
84,287
64,249
31
%
Minosa
59,204
55,776
41
%
49,184
20
%
163,042
128,793
27
%
Almas
51,329
41,751
112
%
37,002
39
%
130,207
85,481
52
%
Borborema
38,982
3,690
N.A.
-
N.A.
42,672
-
N.A.
Total
247,832
190,436
85
%
156,157
59
%
600,072
422,646
42
%
In Q3 2025, the Company reported Net Revenue of US$247.8 million, representing a 59% increase year-over-year and a 30% increase compared to Q2 2025. The strong performance was primarily driven by the sales increase and higher metal prices, with the average realized gold price increasing by 40%, from US$2,413/oz in Q3 2024 to US$3,385/oz in Q3 2025. Copper prices also contributed positively, with the average copper price increasing by 13%, from US$4.18/lb in Q3 2024 to US$4.74/lb in Q3 2025. Compared to the last quarter, molybdenum average realized sale price also increased by 15%, reaching US$25/lb.
With this result, Net Revenues reached US$600,072 in 9M 2025, an increase of 42% when compared to the same period of 2024. The result was mainly driven by higher gold prices, higher sales at Almas and of the start of operations at Borborema. In 9M 2025, average net realized prices reached US$3,146, a 43% increase when compared to 9M 2024; and average copper prices reached US$4.49/lb, an 8% increase when compared to 9M 2024.
2.3. Cash Cost and All in Sustaining Costs
(US$/GEO)
Q3 2025
Q2 2025
QoQChange%
Q3 2024
YoYChange%
9M 2025
9M 2024
Change %
Cash Cost
1,110
1,146
-3
%
987
12
%
1,133
1,022
11
%
Aranzazu
1,133
1,110
2
%
997
14
%
1,135
960
18
%
Apoena
1,082
1,168
-7
%
1,095
-1
%
1,159
983
18
%
Minosa
1,192
1,178
1
%
998
20
%
1,173
1,090
8
%
Almas
986
1,167
-16
%
899
10
%
1,069
1,065
0
%
Borborema
1,127
936
20
%
-
N.A.
1,109
-
N.A.
All-in Sustaining Cost
1,396
1,449
-4
%
1,292
8
%
1,433
1,302
10
%
Aranzazu
1,511
1,514
0
%
1,338
13
%
1,523
1,269
20
%
Apoena
1,791
1,751
2
%
1,888
-5
%
1,867
1,607
16
%
Minosa
1,372
2,292
-40
%
1,089
26
%
1,305
1,176
11
%
Almas
1,128
1,364
-17
%
1,182
-5
%
1,223
1,330
-8
%
Borborema
1,237
1,441
-14
%
-
0
%
1,256
-
0
%
For Q3 2025, the Company's Cash Cost was US$1,110/GEO, an increase of 12% over Q3 2024 mainly attributed to the increase in costs at Aranzazu, due to impact from the copper-to-GEO conversion in production, and lower production at Minosa. When compared to Q2 2025, Cash Cost was 3% lower, due to improvements at Almas and Apoena driven by higher grades and higher recovery rates, respectively, partially offset by higher costs at Aranzazu and Borborema.
In 9M 2025, Cash Cost averaged US$1,133/GEO, representing an 11% increase, mainly due to lower grades at Apoena and higher waste to ore ratio and the impact of the copper into GEO conversion at Aranzazu. This result was also impacted by lower stacking at Minosa due to higher rainfall in 2025 than 2024, due to the unusually low rain season in Minosa in 2024. At constant 2024 metal prices, Cash Cost of 9M 2025 was US$1,060/GEO, a 4% increase.
In Q3 2025, consolidated All-in Sustaining Cost (AISC) was US$1,396/GEO, up 8% from Q3 2024 due to higher Cash Costs and partially explained by the negative impact of metal prices on GEO conversion. At Q3 2024 constant metal prices, AISC was in line with Q3 2024. For 9M 2025, AISC was US$1,419/GEO, a 9% increase from 9M 2024, mainly due to copper-to-GEO conversion. Compared to Q2 2025, AISC reduced 4% due to the positive performance of Almas and lower than Aura's average AISC for Borborema.
2.4. Gross Profit
(US$ thousand)
Q3 2025
Q2 2025
QoQChange%
Q3 2024
YoYChange%
9M 2025
9M 2024
Change%
Net Revenue
247,832
190,436
30
%
156,157
59
%
600,072
422,646
42
%
Cost of goods sold
(98,223
)
(86,497
)
14
%
(83,976
)
17
%
(268,096
)
(252,475
)
6
%
Cost of production
(44,745
)
(44,470
)
1
%
(29,838
)
50
%
(134,134
)
(104,899
)
28
%
Cost of production - Contractors
(26,437
)
(17,529
)
51
%
(27,481
)
-4
%
(59,433
)
(69,861
)
-15
%
Change in inventory (cash)
(11,983
)
(9,550
)
25
%
(9,971
)
20
%
(30,659
)
(30,138
)
2
%
Depreciation and amortization
(15,058
)
(14,948
)
1
%
(16,686
)
-10
%
(43,870
)
(47,577
)
-8
%
Gross Profit
149,609
103,939
44
%
72,181
107
%
331,976
170,171
95
%
Gross Margin
60
%
55
%
6 p.p.
46
%
14 p.p.
55
%
40
%
15 p.p.
In the quarter, Cost of goods sold (COGS) was directly impacted by the inclusion of Borborema and reflected an increase of 14% compared to Q2 2025 and 17% versus Q3 2024. In Q3 2025, Borborema accounted for US$12.9 million in costs. Excluding this impact, total COGS for the quarter would have been approximately US$85.6 million, consistent with Q2 2025 levels. For 9M 2025, total COGS rose 6%, also driven by Borborema's start up, which represented US$13.8 million of the total. Excluding Borborema, cost increase versus 2024 would have been around 1%, demonstrating that, under comparable conditions, the Company maintained stable costs, reflecting Aura's disciplined cost management and operational efficiency.
In Q3 2025, disciplined cost management, aligned with Q3 2024 on a comparable basis, and a significant rise in Net Revenue drove Gross Profit to US$149.6 million, achieving a Gross Margin of 60%. This represents a more than twofold increase from the US$72.2 million Gross Profit in Q3 2024. For 9M 2025, Gross Profit reached US$332.0 million, nearly doubling the 9M 2024 figure, propelled by cost containment strategies and a 42% increase in Net Revenue for the reasons discussed.
2.5. Operating Expenses
(US$ thousand)
Q3 2025
Q2 2025
QoQChange %
Q3 2024
YoYChange%
9M 2025
9M 2024
Change %
Gross Profit
149,609
103,939
44
%
72,181
107
%
331,976
170,171
95
%
Operational Expenses
(12,704
)
(12,998
)
-2
%
(11,216
)
13
%
(36,714
)
(31,920
)
15
%
General and administrative expenses
(10,371
)
(11,284
)
-8
%
(6,923
)
50
%
(31,291
)
(22,734
)
38
%
Exploration expenses
(2,333
)
(1,714
)
36
%
(4,293
)
-46
%
(5,423
)
(9,186
)
-41
%
Operating income
136,905
90,941
51
%
60,965
125
%
295,262
138,251
114
%
Operating Expenses totaled US$12.7 million in the quarter, 2% lower than Q2 2025 and 13% higher than Q3 2024.
General and Administrative ("G&A") expenses decreased by 8% compared to Q2 2025, primarily reflecting the absence of certain non-recurring expenses related to the Nasdaq IPO incurred in the previous quarter. When compared to Q3 2024, G&A expenses increased by US$3.5 million, mainly due to: (i) higher stock-based compensation (non-cash) and Deferred Share Unit ("DSU") expenses, driven by the significant appreciation in the Company's share price during the period; (ii) increased Directors and Officers ("D&O") insurance premiums following the Nasdaq listing; and (iii) an increase in other general and administrative costs.
For the nine months ended September 30, 2025, the increase in G&A expenses was driven by the same factors, as well as higher salaries and benefits and professional fees associated with the acquisition and incorporation of Era Dorada, the start-up of Borborema, and activities related to the Nasdaq IPO.
Exploration expenses totaled US$2.3 million in Q3 2025, a 36% increase compared to Q2 2025 and 46% reduction from Q3 2024, as most expenses related to exploration activities in the quarter were capitalized. Exploration activities in the quarter were concentrated in Apoena. In Matupá, efforts were focused on expanding reserves in regions close to X1, Pé Quente and other strategic areas. In Carajás, exploration work successfully confirmed copper mineralization, expanding the mineral potential of the region.
The Company thus ended Q3 2025 with Operating Income of US$137.6 million, compared to an Operating Income of US$90.9 million in Q3 2024, also higher compared to the Operating Income of Q2 2025 of US$90.9 million, which reflects a positive result of higher gross profit.
2.6. Adjusted EBITDA
(US$ thousand)
Q3 2025
Q2 2025
QoQChange %
Q3 2024
YoYChange%
9M 2025
9M 2024
Change %
Operating Income
136,905
90,941
51
%
60,965
125
%
295,262
138,251
114
%
Depreciation and Amortization
15,200
15,283
-1
%
17,009
-11
%
44,546
48,562
-8
%
Adjusted EBITDA
152,105
106,224
43
%
77,974
95
%
339,808
186,813
82
%
Adjusted EBITDA Margin
61
%
56
%
6 p.p.
50
%
11 p.p.
57
%
44
%
12 p.p.
Adjusted EBITDA reached a new all-time high of US$152.1 million in Q3 2025, marking the fifth consecutive quarterly record for Aura. The Company's increase in production, while maintaining disciplined cost control, enabled it to fully capture the benefit of rising metal prices. As a result, Adjusted EBITDA almost doubled compared to Q3 2024 and grew 43% over Q2 2025.
The year-over-year improvement was primarily driven by higher production and sales volumes, strong cost control and higher gold and copper prices, as discussed previously. This result was also noted on the EBITDA margin gain of 6 p.p. compared to Q2 2025, supported not only by stronger metal prices but also by a 20% increase in sales volume.
In 9M 2025, Adjusted EBITDA reached US$339.8 million, representing an 82% increase compared to the same period in 2024. This result reflects also the positive impact of higher metal prices and increases in production. As a result, the Adjusted EBITDA margin expanded to 57%, up from 44% in 9M 2024.
2.7. Financial Result
(US$ thousand)
Q3 2025
Q2 2025
QoQChange %
Q3 2024
YoYChange%
9M 2025
9M 2024
Change %
EBIT
136,905
90,941
51
%
60,965
125
%
295,262
138,251
114
%
Financial Result
(102,565
)
(59,630
)
72
%
(62,691
)
64
%
(283,806
)
(141,888
)
100
%
Accretion expense
(2,980
)
(1,134
)
163
%
(1,447
)
106
%
(5,780
)
(4,553
)
27
%
Lease interest expense
(824
)
(161
)
412
%
(2,758
)
-70
%
(2,580
)
(6,779
)
-62
%
Interest expense on loans and debentures
(5,786
)
(6,098
)
-5
%
(7,278
)
-21
%
(17,639
)
(15,616
)
13
%
Finance cost on post-employment benefit
(535
)
(747
)
-28
%
(415
)
29
%
(1,620
)
(1,249
)
30
%
Unrealized loss with derivative gold collars
(75,252
)
(24,304
)
210
%
(56,267
)
34
%
(199,766
)
(89,493
)
123
%
Realized loss with derivative gold collars
(17,130
)
(11,703
)
46
%
-
N.A.
(34,869
)
-
N.A.
Loss on other derivative transactions
(685
)
(1,305
)
-48
%
(1,321
)
-48
%
(3,817
)
(1,321
)
189
%
Change in liability measured at fair value
(1,036
)
(4,025
)
-74
%
-
N.A.
(7,420
)
(85
)
N.A.
Foreign exchange
(36
)
(2,462
)
-99
%
-
N.A.
(5,674
)
(10,995
)
-48
%
Derivative fee
-
-
N.A.
-
N.A.
-
(13,522
)
N.A.
Loss on settlement of liability with equity instruments
-
(8,768
)
N.A.
-
N.A.
(8,768
)
-
N.A.
Other finance costs
(585
)
(297
)
97
%
(476
)
23
%
(1,312
)
(1,047
)
25
%
Finance expenses
(104,849
)
(61,004
)
72
%
(69,962
)
50
%
(289,245
)
(144,660
)
100
%
Change in liability measured at fair value
-
-
N.A.
3,502
N.A.
-
-
N.A.
Foreign exchange
-
-
N.A.
2,279
N.A.
-
-
N.A.
Interest income
2,284
1,374
66
%
1,490
53
%
5,439
2,772
96
%
Finance income
2,284
1,374
66
%
7,271
-69
%
5,439
2,772
96
%
