Aris Mining Corp T.ARIS

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

Metals & Mining Gold

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

Aris Mining Corp

Bullboard Posts

Comment by esviagraon Apr 20, 2018 10:59am

103 Views

Post# 27917283

RE:RE:So if I read correctly the notes will be gone in 8 years?

Method wrote: When they changed the size of the deal from US$152m to US$95m (now US$98m), they changed the maturity to 6 years from 8 years and increases the coupon to 8.25%.

https://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2018/Gran-Colombia-Adapts-Previously-Proposed-Debt-Financing-in-Response-to-Investor-Feedback-With-Focus-on-Refinancing-Its-Senior-Secured-Convertible-Debentures-Due-2020-and-2024-and-Providing-Option-for-Immediate-Liquidity-on-2018-Debentures/default.aspx

The gold trust is like a sinking fund and GCM will use it to reduce the notes every year. The price of the gold used to pay down the principal is US$1250, if the gold price is above that, the note holders get a bonus. Based on the schedule the debt will all be repaid in 6 years and they won’t have to come up with any additional cash to refinance.

There's no bonus per se for price over $1250. The debt just amortize faster - you get paid back faster and not getting paid extra. They remove the clause where the company gets to retain the excess if gold is over $1400 - I guess the debt holder really wants to ensure the money goes toward paying down debt.

Bullboard Posts

Visionstate set to leverage success in the U.S. market