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Aris Mining Corp T.ARIS

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

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

Bullboard Posts
Post by Northforce13on Aug 15, 2018 3:19am
209 Views
Post# 28462284

Bad management

Bad managementThe bad management wasted something like 7.5 million dollars un-necessarily playing around with the redemption date of their debentures.   

They have a fantastic mine, producing lots of low cost gold, yet they seem to constantly find ways to piss away and waste money.

They could have used cash and a tiny loan to pay off the 2018 debentures and avoid all that dilution, but of course they didn't.  They don't even need the cash at this time, their high positive free cash flow easily exceeds mine development cost needs.

I'm long a small position.  Great mine, management is good at mine development yet absolutely horrible at capital management and capital decision making.

GLTA


Bullboard Posts