RE:New Press Release - ARIS MINING REPORTS H1 2024 NET EARNINGS OF $5.0M, ADJUSTED EARNINGS OF $18.1M ($0.12/SHARE) AND EBITDA OF $53.2M WHILE SEGOVIA EXPANSION AND CONSTRUCTION OF MARMATO LOWER MINE REMAIN ON TRACKNot a bad report. They are reaffirming guidance on the low end of guidance. This means the average of the two remaining quarters will be 60,000 ounces. That's another $25 million in revenue for each quarter. The cash balance dropped to $120 million, which is expected when you're doing a cash intensive development on a mine. They did say Q3 will have a combined cash injection of $60 million. One from Wheaton and the other from VAT receivables.
I just don't see this is what short sellers were looking for in the report. Unless Gold goes down tomorrow, I don't see much short term downside. More than likely as we approach the year end, I'm expecting more stock strength as the 100,000 ounce ($250 million revenue) increase in ther annual production begins to be priced into the stock.