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Aris
Feb 1, 2024 23:21:52 GMT
Post by likeike on Feb 1, 2024 23:21:52 GMT
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Aris
Feb 29, 2024 0:35:42 GMT
Post by likeike on Feb 29, 2024 0:35:42 GMT
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Aris
Mar 7, 2024 14:10:51 GMT
Post by likeike on Mar 7, 2024 14:10:51 GMT
ARIS MINING REPORTS 2023 RESULTS WITH GUIDANCE ACHIEVED, NET EARNINGS OF $11.4M, ADJUSTED EARNINGS OF $52.2M ($0.38/SHARE), ADJUSTED EBITDA OF $159M
Wed, March 6, 2024 at 3:26 p.m. PSTĀ·16 min read
VANCOUVER, BC, March 6, 2024 /PRNewswire/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces financial and operating results for the three and twelve months ended December 31, 2023 (Q4 2023 and FY 2023, respectively). All amounts are in US dollars unless otherwise indicated.
Q4 2023
FY 2023
Gold Production
61,052 ounces
226,151 ounces
Segovia Operations AISC/oz1
$1,264
$1,173
EBITDA1
$19.7M
$112.1M
Adjusted EBITDA1
$39.7M
$159.4M
Net earnings (loss)
($5.9M) or ($0.04)/share
$11.4M or $0.08/share
Adjusted earnings1
$11.8M or $0.09/share
$52.2M or $0.38/share
Aris Mining CEO Neil Woodyer stated: "In 2023, we restructured the operations team and introduced new operating procedures following the combination of GCM Mining and Aris Gold in September 2022. The new team achieved consistent quarter-over-quarter increases in gold production during 2023, significantly enhancing our position in 2024 and the future. We have achieved the initial phase of our vision to create an attractive gold mining company for investors by integrating profitable operations with exploration potential and growth projects.
During 2023, our high-grade Segovia Operations produced 202,940 ounces of gold at a processed grade of 10.4 g/t with all-in sustaining costs per ounce of $1,173, achieving production and AISC guidance. For the full year 2023, our mines generated $75.4 million in free cash flow from operations1 which largely funded $84.2 million in growth and expansion investments, and we ended the year with a cash position of $195 million.
With strong gold production results and substantial growth in mineral reserves and resources at our Segovia Operations, we have started construction to increase its processing capacity by 50% to 3,000 tonnes per day with completion expected in early 2025. As the new capacity is used, we expect to increase annual gold production at Segovia to over 300,000 ounces. Construction at our Marmato Lower Mine project has ramped up with initial access roads completed, the lead contractor for portal and decline development selected, and tenders for key items for the new processing plant underway. We are on pace to reach 500,000 ounces of gold production in Colombia in 2026."
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Aris
Mar 7, 2024 14:12:29 GMT
Post by likeike on Mar 7, 2024 14:12:29 GMT
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