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Aris Mining (ARMN) - 2024 Q4 - Earnings Call Transcript
2025-03-13 15:15
Financial Data and Key Metrics Changes - In Q4 2024, the company achieved a net income of $22 million and EBITDA of $67 million, marking a strong quarter with the highest production of 57,364 ounces for the year [5][10] - Gold revenue for Q4 was $148 million, a 13% increase compared to Q3, driven by a higher realized gold price of $2,642 per ounce and increased sales volumes [14] - For the full year 2024, adjusted EBITDA totaled $163.1 million and adjusted earnings were $55.9 million, or $0.35 per share [15][19] Business Line Data and Key Metrics Changes - Segovia produced 188,000 ounces of gold, while the Marmato Upper Mine contributed 23,000 ounces, totaling 211,000 ounces for the year [10] - In Q4, Segovia's production increased by 8% to 51,477 ounces, with a 7% rise in average gold grade processed [11] - The all-in sustaining costs (AISC) at Segovia reduced by 4% to $1,485 per ounce in Q4, despite an 8% increase in realized gold costs [11] Market Data and Key Metrics Changes - The company expects annual production from Segovia to reach between 210,000 to 250,000 ounces in 2025, with a target of 300,000 ounces from 2026 onwards [6][32] - The AISC margin at Segovia reached a three-year high of $58 million in Q4, a 32% increase from the previous quarter [17][40] Company Strategy and Development Direction - The company is focused on expanding its processing facilities at Segovia and Marmato to increase production capacity, targeting over 500,000 ounces of gold annually once expansions are fully operational [8][30] - The Segovia processing plant expansion is expected to ramp up to 300 tonnes per day by the end of 2025, with a total cost of $15 million for the project [23][28] - The Marmato Lower Mine construction is progressing, with plans to expand processing capacity from 4,000 tonnes per day to 5,000 tonnes per day, aiming for an annual production of 200,000 ounces [25][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position, with a year-end cash balance of $253 million, positioning it well for growth [8][40] - The company remains focused on operational efficiencies and cost control, despite the strong gold price environment [17][34] Other Important Information - The company generated a cash inflow of $164 million in Q4, including $136 million from refinancing bonds and $40 million from a precious metals stream [20] - The total estimated cost to complete the Marmato Lower Mine construction is $365 million, with a net construction cost to the company of $208 million after considering remaining stream funding [28][29] Q&A Session Summary Question: How long has the company been considering the expansion and why now? - Management indicated that the expansion has been under consideration for over a year, with the decision to reshape plans based on insights gained from the Upper Mine [45][46] Question: What is the expected capital expenditure for this year versus next year for the expansion? - The company forecasts approximately $260 million in capital expenditure for this year, with an additional $50 million possible depending on spending [48]
Aris Mining (ARMN) - 2024 Q4 - Annual Report
2025-03-12 23:51
Exhibit 99.1 ARIS MINING REPORTS RECORD Q4 2024 FINANCIAL RESULTS WITH STRONG EBITDA GROWTH AND ANNOUNCES 25% CAPACITY EXPANSION AT MARMATO Vancouver, Canada, March 12, 2025 - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS; NYSE-A: ARMN) announces its financial and operating results for the three months and full year ended December 31, 2024 (Q4 2024 and 2024, respectively). All amounts are expressed in U.S. dollars unless otherwise indicated. Highlights: | | Q4 2024 | Q3 2024 | 2024 | | --- ...
ARIS MINING ANNOUNCES COLOMBIAN MINISTRY OF ENVIRONMENT RESOLUTION RELATED TO THE SANTURBÁN REGION
Prnewswire· 2025-03-05 22:42
Core Insights - The Colombian Ministry of Environment has completed a public consultation process regarding a Temporary Reserve Area (TRA) in the Santurbán region, impacting the Soto Norte Project, allowing for a two-year suspension of environmental license issuance [1][2] - Aris Mining is advancing a smaller-scale version of the Soto Norte Project, with completion expected by mid-2025, focusing on environmental protection and local community support [2][4] - The company operates two underground gold mines in Colombia, targeting an annual production rate of over 450,000 ounces of gold by 2026 [4][5] Company Overview - Aris Mining was founded in September 2022, aiming to become a leading gold mining company in Latin America, combining current production with growth through expansions and development projects [3] - The company produced 210,955 ounces of gold in 2024 and is expanding its Segovia and Marmato mines to increase production capacity [4] - Aris Mining is actively pursuing partnerships with small-scale miners in Colombia to promote safe and environmentally responsible mining practices [5]
ARIS MINING ANNOUNCES FULL-YEAR 2024 EARNINGS RELEASE DATE
Prnewswire· 2025-02-20 21:27
Core Viewpoint - Aris Mining Corporation is set to release its full-year 2024 financial results on March 12, 2025, and will host a conference call on March 13, 2025, to discuss these results [1][2]. Company Overview - Aris Mining was founded in September 2022 with a focus on becoming a leading gold mining company in Latin America, combining current production with growth through asset expansions and exploration [4]. - The company operates two underground gold mines in Colombia, the Segovia Operations and the Marmato Upper Mine, which produced a total of 210,955 ounces of gold in 2024 [5]. - Aris Mining is targeting an annual production rate exceeding 450,000 ounces of gold, with the Segovia mill expansion expected to ramp up in the second half of 2025 and the Marmato Lower Mine projected to begin production in 2026 [5]. Strategic Initiatives - The company is pursuing partnerships with Colombia's small-scale mining sector to promote safe, legal, and environmentally responsible operations that benefit local communities [6]. - Aris Mining is also exploring acquisitions and growth opportunities to enhance value through scale and diversification [6]. Additional Information - The company is listed on the TSX (ARIS) and NYSE-A (ARMN) and is led by a team with a strong track record in the gold mining industry [4]. - Further details about Aris Mining can be accessed through their official website and regulatory filings [7].
Top 5 Mining Stocks To Watch In 2025: No.2 - Aris Mining
Seeking Alpha· 2025-01-15 13:00
Group 1 - The article presents a "Top 5 Mining Stocks to Watch" list for 2025, highlighting the success of five companies in 2024 that generated significant returns [1] - The focus is primarily on precious and industrial metals royalty and streaming companies, while also including broader mining investment ideas [1] Group 2 - Peter Arendas, an associate professor with over 15 years of investing experience, specializes in small and mid-cap companies in the resource sector, particularly in the precious and industrial metals royalty and streaming industry [2]
Aris Mining (ARMN) - 2024 Q3 - Earnings Call Presentation
2024-11-13 16:51
ARIS MINING A gold producer in the Americas, expanding for tomorrow Q3 2024 Earnings Results – November 13, 2024 Disclaimer This presentation contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including without limitation statements relating to: expectation to meet 2024 production guidance, estimated production and cost guidance in 2024, targeted production in ...
Aris Mining (ARMN) - 2024 Q3 - Earnings Call Transcript
2024-11-13 16:50
Financial Data and Key Metrics Changes - In Q3 2024, the company produced 53,600 ounces of gold, a 9% increase over Q2 2024, with all-in sustaining margins at Segovia rising 37% to $44 million compared to $32 million in Q2 [5][19] - Adjusted EBITDA for the 12 months ending September 30, 2024, was $147 million, with adjusted net income of $43 million [5][35] - Gold revenue increased by 15% quarter-over-quarter to $131.6 million, driven by a higher realized gold price of $2,447 per ounce and gold sales of approximately 54,000 ounces, up 9% [19][20] Business Line Data and Key Metrics Changes - Segovia produced 136,106 ounces of gold in the first nine months of 2024, with a projected full-year production between 185,000 and 195,000 ounces [10] - Marmato Upper Mines contributed 17,485 ounces of gold, with construction of the Lower Mine on track and reaching a 25% spend level milestone by the end of September [7][15] Market Data and Key Metrics Changes - The realized gold price increased by 6% in Q3 to $2,457 per ounce, while all-in sustaining costs declined by 2% to $1,540 per ounce, resulting in an all-in sustaining cost margin of $918 per ounce [11][12] Company Strategy and Development Direction - The company is targeting an annual gold production rate of approximately 500,000 ounces by the second half of 2026, with ongoing expansions at Segovia and Marmato [8][35] - The expansion at Segovia is progressing, with Phase 1 completed and Phase 2 scheduled for completion in Q1 2025, aiming to increase processing capacity from 2,000 tons per day to 3,000 tons [6][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth strategy, highlighting a strong cash position of $266 million post-Q3, which supports ongoing expansion projects [28][33] - The company is actively engaging with local communities and stakeholders regarding the Soto Norte project, aiming to secure a social license for development [42] Other Important Information - The company refinanced $300 million notes with a new five-year $450 million note at 8%, extending debt maturity to October 2029 [8][29] - A net cash outflow of $41.4 million in Q3 resulted in a cash balance of $80.3 million at quarter-end, which has since increased to $266 million due to recent financing activities [26][28] Q&A Session Summary Question: Update on mill expansion at Segovia - Management confirmed readiness to receive extra tonnage from both Aris site and CMP mining, with 46 contracts in place and 41 awaiting approval [37][40] Question: Planned tonnage from CMP once reaching 3,000 tons - The plan is to pull in 1,800 tons from Aris and the remainder from CMP, indicating an increase of 400 tons per day from CMP [38][39] Question: Update on Soto Norte project discussions - The Country Manager reported ongoing engagement with local communities and stakeholders, with positive alignment on the company's vision for Soto Norte [42]
Aris Mining (ARMN) - 2024 Q3 - Quarterly Report
2024-11-12 22:25
Revenue and Income - Revenue for the three months ended September 30, 2024, was $134,723,000, an increase of 15.7% compared to $116,469,000 for the same period in 2023[5] - Income from mining operations for the three months ended September 30, 2024, was $37,982,000, compared to $34,563,000 in the same period last year, representing an increase of 7.0%[5] - Net income for the three months ended September 30, 2024, was a loss of $2,227,000, compared to a profit of $13,833,000 in the same period in 2023[5] - Comprehensive loss for the three months ended September 30, 2024, was $(10,677,000), compared to a comprehensive income of $28,327,000 in the same period last year[8] - The Company reported a net income of $(2,227,000) for the three months ended September 30, 2024, compared to a net income of $13,833,000 for the same period in 2023, indicating a significant decline[10] - Segment net income for the three months ended September 30, 2024, was a loss of $2.227 million, compared to a profit of $13.833 million in the same period of 2023[142] Costs and Expenses - Cost of sales for the three months ended September 30, 2024, was $83,243,000, up from $68,534,000 in the prior year, reflecting a 21.5% increase[5] - The total cost of inventories recognized in the consolidated statement of income for the nine months ended September 30, 2024, was $231.6 million, compared to $185.2 million in 2023[40] - Interest payments for the three months ended September 30, 2024, were $937,000, down from $1,157,000 in the same period of 2023, reflecting a decrease of 19%[67] - The company reported a total of $6.493 million in interest and accretion expenses for the three months ended September 30, 2024[136] - Income taxes for the three months ended September 30, 2024, amounted to $15.830 million, compared to $12.323 million in the same period of 2023[142] Assets and Liabilities - Total assets as of September 30, 2024, were $1,828,921,000, an increase from $1,352,871,000 as of December 31, 2023[4] - Total liabilities as of September 30, 2024, were $736,427,000, slightly up from $728,216,000 as of December 31, 2023[4] - As of September 30, 2024, total inventories amounted to $46.2 million, an increase from $38.9 million as of December 31, 2023[40] - Long-term debt as of September 30, 2024, was $365,005, a decrease from $377,831 as of December 31, 2023, representing a reduction of approximately 3.4%[59] - The fair value of the company's Senior Notes was estimated at $299.2 million as of September 30, 2024, compared to a carrying amount of $294.5 million[119] Equity and Share Capital - Share capital increased to $934,238,000 as of September 30, 2024, from $719,806,000 as of December 31, 2023[4] - As of September 30, 2024, total equity attributable to owners of the Company increased to $808,862,000 from $624,655,000 at December 31, 2023, reflecting a growth of approximately 29.4%[9] - The total number of common shares outstanding increased to 170,626,452 as of September 30, 2024, from 137,569,590 at December 31, 2023[9] - The Company issued 15,750,000 common shares to Mubadala, valued at $152.0 million, and will issue an additional 6,000,000 common shares upon receiving an environmental license for the PSN, valued at $28.9 million[90] Cash Flow and Financing - Operating cash flows before taxes for the nine months ended September 30, 2024, were $55,355,000, down from $126,167,000 in the same period of 2023, representing a decrease of approximately 56.2%[10] - The Company’s cash and cash equivalents at the end of the period were $80,304,000, a decrease from $210,838,000 at the end of September 30, 2023[10] - The company completed an offering of $450 million of 8.000% Senior Notes due 2029 on October 31, 2024[144] Investments and Acquisitions - The acquisition of PSN contributed $180,920,000 to equity, with a total acquisition cost of $464,705,000, reflecting the Company's strategic expansion efforts[9] - The Company increased its interest in the Soto Norte Project from 20% to 51% on June 28, 2024, gaining control over the project[13] - The Company acquired an additional 31% interest in the Soto Norte Project, increasing its ownership to 51% and obtaining control as of June 28, 2024[33] - The investment in Soto Norte as of December 31, 2023, was $108.527 million, with a cash contribution of $2.647 million and a share of loss of $2.811 million[44] Financial Instruments and Risks - The total gain (loss) on financial instruments for the three months ended September 30, 2024, was $(12.842) million, compared to a gain of $374 thousand in the same period of 2023[137] - The company experienced a foreign currency exposure with a potential impact of $1,844 thousand on earnings from a 10% appreciation of the Colombian Peso against the US dollar as of September 30, 2024[130] - The company's exposure to credit risk increased, with total receivables amounting to $72,677,000 as of September 30, 2024, up from $49,439,000 at December 31, 2023[121] Other Financial Metrics - The Company reported a foreign exchange loss of $311,000 for the three months ended September 30, 2024, compared to a loss of $2,285,000 in the same period last year[5] - The Company’s income tax expense for the nine months ended September 30, 2024, was $39,075,000, up from $33,497,000 in the same period of 2023, indicating an increase of approximately 16.8%[10] - Total share-based compensation expense for the three months ended September 30, 2024 was $2,533,000, compared to $528,000 for the same period in 2023, marking a significant increase[105]
Aris Mining: A New Endeavour Mining In The Making
Seeking Alpha· 2024-10-28 16:45
Company Overview - Aris Mining (NYSE: ARMN) is an intermediate gold producer primarily operating in Colombia, formed in September 2022 through the merger of GCM Mining and Aris Gold [1] Company Characteristics - The company is relatively young, which may contribute to its under-the-radar status in the market [1] Investment Perspective - The article highlights the importance of continuous learning and adaptability in investment, referencing a quote from Charlie Munger about the value of becoming wiser over time [1]
Aris Mining's Gold Rush - Aiming For 500K Ounces By 2026
Seeking Alpha· 2024-10-17 05:28
Group 1 - Aris Mining aims to increase its annual gold production to 500,000 ounces by 2026, indicating a bold growth strategy in the gold production sector [1] - The company is actively engaged in mining operations across the Americas, highlighting its geographical focus and operational scale [1] Group 2 - Grassroots Trading emphasizes providing objective and unbiased research, focusing on small- to mid-cap companies while also identifying opportunities in larger firms [1] - The research approach is data-driven and aims to present compelling investment opportunities that are often overlooked [1]