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Aris Mining Corp. T.ARIS

Alternate Symbol(s):  CLGDF | N.AMNG.NT.U | T.ARIS.WT.A | ARMN

Aris Mining Corporation is a gold producer in the Americas. The Company is engaged in operating two mines with expansions underway in Colombia. The Segovia Operation is located in the Segovia-Remedios mining district in the department of Antioquia, Colombia, approximately 180 kilometers (km) northeast of Medellin. The Segovia Operations comprises four active underground gold mining operations, which include El Silencio, Sandra K, Providencia, and Carla. It has over 11 titles with a total area of 5,335.58 hectares (ha). The Marmato underground gold mine is located on the west side of the town of Marmato, in Marmato municipality of Caldas Department, in the Republic of Colombia, approximately 80 km from Medellin and 200 km northwest of the capital city of Bogota. The Company is also the operator and 51% owner of the Soto Norte Project, which is advancing to develop a new underground gold, silver and copper mine. In Guyana, it is advancing the Toroparu, a gold/copper project.


TSX:ARIS - Post by User

Post by 7Twiggyon Nov 11, 2020 7:48pm
403 Views
Post# 31882256

3Q results on Sedar - Snapshot here

3Q results on Sedar - Snapshot hereThird Quarter and First Nine Months 2020 Highlights Gran Colombia has announced that it is tripling its dividend to the equivalent of CA$0.18 per share per annum and changing the payment frequency to monthly. The first monthly dividend of CA$0.015 per common share will be paid on December 15, 2020 to shareholders of record as of the close of business on November 30, 2020. The Company continued to support the local communities surrounding the Segovia Operations and Marmato Project during the third quarter of 2020, providing groceries to families who have been economically affected by the COVID-19 crisis in addition to donations of medical equipment, supplies and sanitation kits to the local hospitals and masks to the communities. Gran Colombia’s consolidated gold production in the third quarter of 2020 was 58,454 ounces, up 4% from the third quarter last year. The third quarter 2020 production reflects a 21% improvement over the second quarter of 2020 which had been adversely impacted by the COVID-19 national quarantine invoked in Colombia in late March. With a total of 162,929 ounces of gold produced in the first nine months of 2020, down from 174,754 ounces in the first nine months last year, and another 19,391 ounces in October, the Company is on track to meet its 2020 annual production guidance of a range between 218,000 and 226,000 ounces of gold. Revenue reached a new quarterly record of $113.1 million in the third quarter of 2020, up 36% from the third quarter last year, as the 30% year-over-year improvement in spot gold prices increased the Company’s realized gold price to an average of $1,875 per ounce sold. For the first nine months of 2020, revenue of $291.2 million was up 22% over the first nine months last year. Total cash costs (1) per ounce averaged $796 per ounce in the third quarter of 2020 compared with $684 per ounce in the third quarter last year. Higher spot gold prices increased production taxes by approximately $25 per ounce in the third quarter of 2020 compared with the same period last year. Other factors increasing total cash costs in the third quarter of 2020 included an increase in contractor and artisanal mining rates which had last been adjusted in 2017, an increased level of operating developme
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