Aris Gold about the "Soto Norte" project + EOM conclusions Aris Gold Announces Q2 2022 Financial and Operating Results
August, 10, 2022
VANCOUVER, BC, Aug. 10, 2022 /PRNewswire/ - Aris Gold Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX: ALLXF) reports financial and operating results for the three and six months ended June 30, 2022. All amounts are in US dollars, unless otherwise indicated.
Aris Gold CEO Neil Woodyer stated: "During Q2 our team became the operator and completed the acquisition of a 20% interest in the Soto Norte project, with the option to increase to 50% ownership. This marked a big step forward for the company, which we quickly followed with the announcement to combine with GCM Mining to create a new, stronger Aris Mining. On completion of this transaction our portfolio of assets will include two producing mines, two development projects, and an advanced exploration project. We are delivering on our strategy to create a leading Americas focused gold company."
Q2 2022 Highlights
On April 12, 2022, Aris Gold completed the acquisition of a 20% interest in the Soto Norte gold project in Colombia, with the option to increase to a 50% interest, and became operator. A feasibility study on the Soto Norte project estimates steady-state production of 450,000 ounces of gold per year at life-of-mine all-in sustaining costs (AISC) of $471 per ounce of gold. Concurrently with the acquisition, Aris Gold amended its $110 million precious metals stream at the Marmato mine with Wheaton Precious Metals International to increase the total funding amount by $65 million to $175 million...
marking added by me, source: https://www.arisgold.com/news/news-details/2022/ARIS-GOLD-ANNOUNCES-Q2-2022-FINANCIAL-AND-OPERATING-RESULTS/default.aspx Current price of gold per ounce 1800 USD. All inclusive costs = 471 USD. Income = 1800-471 =1329 USD per ounce.
Quantum of our financial damage due to the unilateral "decisions" by Colombia. Conclusions from the Aris figures, as it is the same ore body with same costs.
Our Angostura resources are (updated in 2015):
| Resource Category | Tonnage (Mt) | Au (g/t) | Ag (g/t) | Contained Au (Moz) | Contained Ag (Moz) |
| Measured plus Indicated | 15.06 | 4.57 | 19.3 | 2.21 | 9.36 |
* (table from https://www.newswire.ca/news-releases/eco-oro-announces-updated-mineral-resource-estimate-for-angostura-517901131.htm) Thus 2.21 Moz (million ounces gold ) are explored with our money on our old Angustura licence area and are shuffel ready for enviro friendly underground mining. Makes a fincial loss of 2 210 000 ounces times 1329 USD =>
our financial loss at present conditions is roughly 2 987 090 000 USD =
~ 3 billiion USD ! The further "Inferred" resources and the silver resources are not included in my rough calculation.
Easy to understand that the Colombian mafia likes to get their hands on what we had explored. Using some political and pseudo envio Colombian puppets. A sad story.
Let them pay the price for the damages they had made to us !
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*The mineral resources in this news release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions.