Core Viewpoint - Aris Mining Corporation held its Annual General Meeting (AGM) where significant voting results were reported, including the election of directors and the appointment of auditors [1][2][3]. Voting Results - A total of 63,558,598 shares, representing 36.85% of the outstanding shares, were represented at the AGM [2]. - The following directors were elected with their respective votes: - Ian Telfer: 58,151,832 votes (91.49% for) [2] - Neil Woodyer: 63,318,201 votes (99.62% for) [2] - Germán Arce: 62,829,373 votes (98.85% for) [2] - Daniela Cambone: 61,326,536 votes (96.49% for) [2] - Mónica de Greiff: 61,658,111 votes (97.01% for) [2] - David Garofalo: 59,144,721 votes (93.06% for) [2] - Gonzalo Hernández: 52,541,364 votes (82.67% for) [2] - Attie Roux: 61,660,728 votes (97.01% for) [2]. Appointment of Auditors - KPMG LLP was appointed as the auditor for the 2025 fiscal year, with remuneration to be determined by the Board [3]. - KPMG received 62,140,740 votes (97.77% for) during the appointment process [4]. Company Overview - Aris Mining was founded in September 2022, focusing on becoming a leading gold mining company in Latin America [5]. - The company operates two underground gold mines in Colombia, producing 210,955 ounces of gold in 2024, with plans to increase annual production to over 500,000 ounces by ramping up operations in the Segovia and Marmato mines [6]. - Aris Mining is also involved in a joint venture for the Soto Norte project and owns the Toroparu gold/copper project in Guyana, with ongoing studies and assessments [6][7].

Condensed Consolidated Interim Financial Statements For the three months ended March 31, 2025 and 2024 (expressed in thousands of United States dollars) (Unaudited) Condensed Consolidated Interim Statements of Financial Position (Unaudited, Expressed in thousands of US dollars) | | | | | March 31, | December 31, | | --- | --- | --- | --- | --- | --- | | | | Notes | | 2025 | 2024 | | ASSETS | | | | | | | Current | | | | | | | Cash and cash equivalents | | | $ | 239,831 $ | 252,535 | | Gold in trust | | 11c | ...

Core Insights - Aris Mining Corporation reported strong financial and operational results for Q1 2025, driven by record gold prices and solid production performance, achieving adjusted earnings per share (EPS) of $0.16, the highest since its formation in September 2022 [1][7][8] Financial Performance - Gold production totaled 54,763 ounces, an 8% increase from 50,767 ounces in Q1 2024, contributing to 22% of the FY 2025 production guidance range of 230,000 to 275,000 ounces [8] - Gold revenue reached $154.1 million, a 47% increase over Q1 2024 and a 4% increase over Q4 2024 [7] - Adjusted EBITDA for Q1 was $66.6 million, up 134% from Q1 2024 and 20% from Q4 2024, with trailing 12-month adjusted EBITDA at $201.3 million [7][8] - Net earnings were $2.4 million, compared to a loss of $0.7 million in Q1 2024, while adjusted net earnings were $27.2 million or $0.16 per share, up from $0.04 per share in Q1 2024 [7][8] Operational Performance - At Segovia, gold production was 47,549 ounces with an average gold grade of 9.37 g/t and recoveries of 96.1% [6][8] - The all-in sustaining cost (AISC) margin increased to $60.9 million, a 114% increase over Q1 2024, while owner mining AISC was $1,482 per ounce [8][9] - The average realized gold price was $2,855 per ounce sold, compared to $2,062 in Q1 2024 [6][8] Growth and Expansion Initiatives - The company invested $43 million in growth initiatives during Q1 2025, with significant allocations to the Marmato Lower Mine and Segovia plant expansion [17] - The Segovia plant expansion is on track for commissioning in June 2025, targeting an increase to 3,000 tonnes per day [17] - The Marmato Lower Mine construction is progressing, with a planned increase in processing plant capacity from 4,000 to 5,000 tonnes per day [17] Capital Structure - As of March 31, 2025, Aris Mining had a cash balance of $240 million and net debt of $250 million, resulting in a net leverage ratio of 1.2x [7][13] - The company has received over $19.4 million from warrant exercises year-to-date, strengthening its balance sheet [11][12]

Core Viewpoint - Aris Mining Corporation is undergoing a leadership transition with Richard Orazietti stepping down as CFO and Cameron Paterson set to take over in July 2025, reflecting the company's commitment to strong financial governance and growth strategy [1][2]. Group 1: Leadership Transition - Richard Orazietti will resign as CFO after Q1 2025 reporting, with Cameron Paterson joining as the new CFO in July 2025 [1]. - Neil Woodyer, CEO of Aris Mining, expressed gratitude for Orazietti's contributions and welcomed Paterson, highlighting his relevant experience from Pan American Silver Corp. [2]. Group 2: Cameron Paterson's Background - Cameron Paterson has extensive financial leadership experience in the mining sector, having served in executive roles at Pan American Silver since 2015 [3]. - He holds a Chartered Professional Accountant designation and degrees in Economics and Accounting from the University of Victoria and the University of British Columbia, respectively [4]. Group 3: Company Overview - Aris Mining was founded in September 2022, focusing on becoming a leading gold mining company in Latin America, combining current production with growth through asset expansion and exploration [5]. - The company operates two underground gold mines in Colombia, producing 210,955 ounces of gold in 2024, with plans to increase annual production to over 500,000 ounces by ramping up operations in the coming years [6]. - Aris Mining is also pursuing partnerships with Colombia's small-scale mining sector to promote safe and environmentally responsible operations [7].

Core Viewpoint - Aris Mining Corporation is set to release its Q1 2025 financial results on May 7, 2025, followed by a conference call on May 8, 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, emphasizing production, cash flow generation, and transformational 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 aims to increase its annual gold production to over 500,000 ounces, driven by the Segovia mill expansion expected in the second half of 2025 and the new Marmato Mine ramp-up anticipated in H2 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 also holds a 51% stake in the Soto Norte joint venture, where a new development plan is under study, with results expected in mid-2025 [5]. - Additionally, the company owns the Toroparu gold/copper project in Guyana, further diversifying its asset portfolio [5].

Gold Market Overview - Gold prices have reached all-time highs, surpassing $3,050 per ounce in March 2025, driven by fears of trade wars and a flight to safety, with a year-to-date increase of 15% as tracked by the SPDR Gold Shares ETF [1] Company Analysis: Newmont - Newmont, the world's largest gold miner, has seen its stock rise by 27.2% year-to-date as of March 21, 2025, significantly outperforming the S&P 500 index, which is down 3.77% [2] - In 2024, Newmont produced 6.8 million ounces of gold, with a cash position of $3 billion and liquidity of $9 billion, trading at a P/E of 16.12 and a dividend yield of 2.12% [4][8] - Despite gold prices hitting record highs, Newmont's stock is not trading near its all-time highs, indicating potential for further growth [2] Company Analysis: Freeport-McMoRan - Freeport-McMoRan is a major producer of both gold and copper, with a stock forecast indicating a 24.89% upside potential [5] - In 2024, Freeport produced 1.9 million ounces of gold and 4.2 billion pounds of copper, but its shares were only up 5.7% year-to-date as of March 21, 2025 [7] Company Analysis: Kinross Gold - Kinross Gold operates with an all-in-sustaining cost (AISC) of $1,360 per ounce, below the industry average of $1,400 to $1,500, indicating efficient operations [10] - The company expects a full-year 2024 gold equivalent production of 2.1 million ounces and closed the year with $611 million in cash and $2.3 billion in liquidity [10][11] Company Analysis: Aris Mining - Aris Mining is a low-priced Canadian gold mining stock, with an AISC of $1,485 per ounce and a production of 210,955 ounces of gold in 2024 [15] - The company is scaling up capacity and expects total production in 2025 to range between 230,000 and 275,000 ounces, up from 211,000 in the previous year [15]

Core Viewpoint - Aris Mining Corporation (ARMN) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with near-term stock price movements [4][6]. - For the fiscal year ending December 2025, Aris Mining Corporation is expected to earn $0.99 per share, reflecting a 191.2% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Aris Mining Corporation has increased by 9.4% [8]. Institutional Investor Influence - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4][5]. - The upgrade in earnings estimates for Aris Mining Corporation suggests an improvement in its underlying business, likely resulting in increased stock prices due to investor interest [5][10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating [9][10]. - The upgrade of Aris Mining Corporation to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [10].

Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Comp ...

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]

Gold Production and Sales - Total gold sold in Q4 2024 was 56,334 ounces, an increase from 53,769 ounces in Q3 2024, representing a growth of 4.7%[38] - For the year ended December 31, 2024, total gold sold reached 210,616 ounces, up from 187,122 ounces in 2023, marking an increase of 12.5%[38] Cost Management - Total cash costs per ounce of gold sold in Q4 2024 were $1,199, down from $1,257 in Q3 2024, reflecting a decrease of 4.6%[38] - All-in sustaining costs (AISC) per ounce of gold sold in Q4 2024 were $1,485, compared to $1,540 in Q3 2024, indicating a reduction of 3.6%[44] - Total cash costs for the year ended December 31, 2024, were $283,390, with cash costs per ounce sold at $1,228[44] - AISC for the year ended December 31, 2024, totaled $345,586, with AISC per ounce sold at $1,507[44] - The company reported total cash costs including royalties of $64,805 in Q4 2024, down from $63,905 in Q3 2024[38] - The total cash costs for Marmato in Q4 2024 were $13,225, down from $14,717 in Q3 2024, reflecting a decrease of 10.1%[38] - The cost of sales for Segovia in Q4 2024 was $68,078, slightly higher than $66,570 in Q3 2024[41] - The company added $4,063 in social program costs in Q4 2024, compared to $4,294 in Q3 2024, showing a decrease of 5.4%[44] Financial Performance - EBITDA for the three months ended December 31, 2024, was reported at $66.602 million, while the adjusted EBITDA for the same period was $55.575 million[51] - The net loss for the three months ended December 31, 2024, was $21.687 million, with adjusted net earnings of $24.659 million for the same period[54] - The total finance income for the year ended December 31, 2024, was a loss of $6.894 million, reflecting challenges in financial management[51] - The company reported a foreign exchange loss of $5.113 million for the three months ended December 31, 2024, impacting overall financial performance[54] Capital Expenditures and Investments - Total additions to mining interests, plant, and equipment for the year ended December 31, 2024, amounted to $195.431 million, with a quarterly total of $57.121 million for the three months ended December 31, 2024[50] - Non-sustaining capital expenditures for the Marmato Lower Mine were $18.998 million for the three months ended December 31, 2024, contributing to a total of $164.492 million for the year[50] Future Outlook and Projects - The company anticipates continued growth through the Segovia expansion project and the development of the Soto Norte and Toroparu projects, with specific timelines and projected costs to be disclosed[57] - The company plans to enhance the Marmato expansion, with expected benefits and costs to be detailed in future communications[57] - The company has disclosed risks and uncertainties that may affect future performance, emphasizing the importance of not placing undue reliance on forward-looking statements[60] Shareholder Information - The basic weighted average shares outstanding increased to 170,900,890 for the three months ended December 31, 2024, compared to 169,873,924 in the previous quarter[54]