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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 Welchspringon Nov 22, 2020 7:08pm
825 Views
Post# 31949812

Wheaton??

Wheaton??Do you think the halt has anything to do with the Precious Steam agreement with Wheaton. This is mentioned on the last page of CGM's 3rd Q Financial Report.

"Metals Stream with Wheaton Precious Metals On November 5, 2020, Caldas Gold entered into a definitive Precious Metals Purchase Agreement (the “Precious Metals Stream”) with Wheaton Precious Metals International Ltd. (“Wheaton International”), a wholly-owned subsidiary of Wheaton Precious Metals™ Corp., in respect to Caldas Gold’s Marmato Project located in Colombia. The Marmato Project comprises an existing operating mine (the “Upper Mine”) and the Marmato Deeps Zone (“MDZ”) development, both of which are covered by the Precious Metals Stream. Wheaton International will purchase 6.5% of the gold production and 100% of the silver production from the Marmato Project until 190,000 ounces of gold and 2.15 million ounces of silver have been delivered, after which the stream drops to 3.25% of the gold production and 50% of the silver production for the life of mine. Under the Precious Metals Stream, Wheaton International will make an upfront deposit payment in cash of US$110 million, US$38 million of which is payable within six months, subject to customary conditions, and the remaining portion of which is payable during the development and construction of the MDZ project, subject to receipt of required permits and licenses, sufficient financing having been obtained to cover total expected capital expenditures and other customary conditions. In addition, Wheaton International will make ongoing payments equal to 18% of the spot gold and silver prices until the uncredited portion of the upfront payment is reduced to zero, and 22% of the spot gold and silver prices thereafter. The Precious Metals Stream is effective July 1, 2020."
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