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.

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Aris Mining Corp

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Post by 7Twiggyon Nov 24, 2020 11:40am

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Post# 31960920

Globe

Globe says veteran mining players buy control of Caldas

2020-11-24 08:20 ET - In the News

Also In the News (C-G) Goldcorp Inc (2)
Also In the News (C-YRI) Yamana Gold Inc

The Globe and Mail reports in its Tuesday edition that veteran Canadian mining investors are joining forces to purchase an obscure junior Columbian gold company. The Globe's Tim Kiladze and Niall McGee write that the group of buyers includes former Goldcorp chairman Ian Telfer, former Goldcorp chief executive officer David Garofalo, current Yamana Gold executive chairman Peter Marrone and mining financier Frank Giustra. Together, the group will buy $38-million in new shares of Toronto-based Caldas Gold as part of an $85-million private placement, and they will also assume operational control. After the financing Caldas will be renamed Aris Gold and Mr. Telfer will become its board chairman. Neil Woodyer, the former CEO of Leagold Mining and Endeavour Mining, will serve as CEO, while Mr. Marrone and Mr. Garofalo will both sit on the board. Mr. Giustra will be a special adviser. Because the financing constitutes a change of control, Caldas's top four executives will be paid a juicy $8.8-million (U.S.) in cash severance. CEO Serafino Iacono, who has run the gold producer for nine months, will earn a $4.04-million (U.S.) severance package, while president Lombardo Paredes will earn $2.32-million (U.S.).

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