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Ero Copper(ERO) - 2022 Q1 - Earnings Call Transcript
2022-05-14 20:49
Financial Data and Key Metrics Changes - The first quarter revenues were $108.9 million, a decrease of $26 million or approximately 19% compared to the fourth quarter of 2021, primarily due to lower copper production and concentrate sales at MCSA [23] - The company reported record quarter-end available liquidity of $540.5 million, including approximately $365 million in cash and cash equivalents, $100 million in short-term investments, and $75 million in undrawn availability under the senior secured credit facility [22] - Operating cash flows were approximately $44 million in the first quarter, supported by record high copper and gold prices despite the challenges faced [24] Business Line Data and Key Metrics Changes - Copper production at the MCSA Mining Complex was approximately 9,700 tonnes, while gold production at the NX Gold Mine was 8,800 ounces during the first quarter [11] - The company expects to achieve a high-end production range of 43,000 to 46,000 tonnes of copper for the full year, with production roughly equally weighted between the first and second halves of the year [13] - Gold production guidance for 2022 remains at 39,000 to 42,000 ounces, with higher production anticipated in the latter part of the year due to planned mine sequencing [14] Market Data and Key Metrics Changes - The Brazilian real strengthened from approximately 5.65 to 4.75 per U.S. dollar by the end of the first quarter, impacting unit operating costs [25] - The company faced inflationary pressures affecting all industries, which influenced cash costs at both MCSA and NX Gold [15] Company Strategy and Development Direction - The company plans to increase annual copper production to approximately 100,000 tonnes and gold production to approximately 60,000 ounces over the next few years [5] - The Boa Esperança project construction was formally approved, with site clearing having commenced recently [7][18] - A company-wide rebranding initiative was launched to align cultural and identity aspects throughout the company [20] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the macroeconomic environment, highlighting the ongoing demand for copper driven by global decarbonization initiatives [9] - The company is focused on advancing its growth strategy and expects several strong quarters ahead [27] Other Important Information - The company successfully issued $400 million in senior unsecured notes with an eight-year maturity and a 6.5% coupon [6] - The first quarter C1 cash costs at MCSA were $1.31 per pound of copper produced, while NX Gold Mine's C1 cash costs and all-in sustaining costs were $638 and $1,092 per ounce, respectively [15] Q&A Session Summary Question: Progress on Honeypot initiative - Management indicated that the Honeypot initiative has uncovered significant opportunities, but a clearer direction will be available in the next six months, with a new technical report expected by the end of the year [29][30] Question: Tendering status for Boa project - The majority of the budget for the Boa project has gone out to tender, with 60% to 70% of the project either agreed or out to tender [32][33] Question: Inclusion of Pilar 3.0 in the tender - Management confirmed that the Pilar 3.0 expansion is included in the tendering process, with contracts for major lead items already signed [34][35]
Ero Copper(ERO) - 2022 Q1 - Quarterly Report
2022-05-08 16:00
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021 Ero Copper Corp. Table of Contents | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------| | CONSOLIDATED FINANCIAL STATEMENTS \nCondensed ...
Ero Copper(ERO) - 2021 Q4 - Earnings Call Transcript
2022-03-09 19:25
Ero Copper Corp (NYSE:ERO) Q4 2021 Earnings Conference Call March 9, 2022 11:30 AM ET Company Participants Noel Dunn – Executive Chairman Makko DeFilippo – President Wayne Drier – Chief Financial Officer Conference Call Participants Karl Blunden – Goldman Sachs Jackie Przybylowski – BMO Capital Markets Orest Wowkodaw – Scotiabank Dalton Baretto – Canaccord Genuity Operator Thank you for standing by. This is the conference operator. Welcome to the Ero Copper Fourth Quarter and Full-Year 2021 Financial and Op ...
Ero Copper(ERO) - 2021 Q3 - Earnings Call Transcript
2021-11-11 22:53
Call Start: 12:30 January 1, 0000 1:00 PM ET Ero Copper Corp. (NYSE:ERO) Q3 2021 Earnings Conference Call November 11, 2021, 12:30 pm ET Company Participants Noel Dunn - Executive Chairman David Strang - Co-Founder & CEO Makko DeFilippo - President Wayne Drier - CFO Courtney Lynn - VP, Corporate Development & IR Conference Call Participants Orest Wowkodaw - Scotiabank Jackie Przybylowski - BMO Capital Markets Stefan Ioannou - Cormark Securities Operator Thank you for standing by. This is the conference oper ...
Ero Copper(ERO) - 2021 Q3 - Quarterly Report
2021-11-09 16:00
MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 1050 – 625 Howe Street, Vancouver, B.C., Canada V6C 2T6 Phone: 604-449-9244 | Website: www.erocopper.com | Email: info@erocopper.com MANAGEMENT'S DISCUSSION AND ANALYSIS This Management's Discussion and Analysis ("MD&A") has been prepared as at November 10, 2021 and should be read in conjunction with the unaudited condensed consolidated interim financial statements of Ero Copper Corp. ("Ero", the "Company", or "we") ...
Ero Copper(ERO) - 2021 Q2 - Earnings Call Transcript
2021-08-08 00:20
Ero Copper Corp. (NYSE:ERO) Q2 2021 Results Conference Call August 5, 2021 11:30 AM ET Company Participants Noel Dun - Executive Chairman David Strang - Co-Founder, Chief Executive Officer & President Wayne Drier - Chief Financial Officer Makko DeFilippo - President Paul Nehlen - Vice President, Corporate Development and Investor Relations Conference Call Participants Jackie Przybylowski - BMO Capital Markets Orest Wowkodaw - Scotiabank Stefan Ioannou - Cormark Securities Bryce Adams - CIBC Dalton Baretto - ...
Ero Copper(ERO) - 2021 Q2 - Earnings Call Presentation
2021-08-06 15:59
Positioned for High-Margin Organic Growth Corporate Presentation August 2021 TSX:ERO NYSE:ERO Cautionary Statements | Business Overview ERO COPPER | 1 Caution Regarding Forward Looking Information and Statements This presentation contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). Forward-lo ...
Ero Copper(ERO) - 2021 Q1 - Earnings Call Transcript
2021-05-10 00:51
Global Medical REIT Inc. (GMRE) Q1 2021 Earnings Conference Call May 5, 2021 11:30 AM ET Company Participants Courtney Lynn - Vice President, Corporate Development and Investor Relations Christopher Dunn - Executive Chairman & Director David Strang - Co-Founder, Chief Executive Officer & President Wayne Drier - Chief Financial Officer Makko DeFilippo - President Mike Richard - Chief Geological Officer Conference Call Participants Orest Wowkodaw - Scotiabank Alex ClinCheck - CIPC Operator Thank you for stand ...
Ero Copper(ERO) - 2020 Q4 - Earnings Call Transcript
2021-03-17 20:49
Ero Copper Corp. (ERRPF) Q4 2020 Results Conference Call March 17, 2021 11:30 AM ET Company Participants Christopher Dunn - Executive Chairman & Director David Strang - Co-Founder, Chief Executive Officer & President Wayne Drier - Chief Financial Officer Makko DeFilippo - President Courtney Lynn - Vice President, Corporate Development and Investor Relations Conference Call Participants Orest Wowkodaw - Scotiabank Stefan Ioannou - Cormark Securities Jackie Przybylowski - BMO Capital Markets Dalton Baretto - ...
Ero Copper(ERO) - 2020 Q3 - Earnings Call Transcript
2020-11-09 03:46
Ero Copper Corp. (ERRPF) Q3 2020 Earnings Conference Call November 6, 2020 11:30 AM ET Company Participants Christopher Noel Dunn - Executive Chairman & Director David Strang - Co-Founder, Chief Executive Officer & President Wayne Drier - Chief Financial Officer Conference Call Participants Jackie Przybylowski - BMO Capital Markets Raphael de Souza - CIBC Stefan Ioannou - Cormark Securities Orest Wowkodaw - Scotiabank Dalton Baretto - Canaccord Operator Thank you for standing by. This is the conference oper ...