Aris Mining (US:ARMN)2025-10-29 21:41Financial Performance - Revenue for Q3 2025 reached $258,115, an increase of 91.6% compared to $134,723 in Q3 2024[4] - Net income for Q3 2025 was $42,009, compared to a net loss of $2,227 in Q3 2024, marking a significant turnaround[6] - The company reported a comprehensive income of $89,710 for Q3 2025, compared to a loss of $10,677 in Q3 2024[6] - For the nine months ended September 30, 2025, net income was $28,278, compared to $2,743 for the same period in 2024, indicating a significant improvement[10] - The company reported a comprehensive income of $134,802 for the nine months ended September 30, 2025, compared to a loss of $54,503 in the same period of 2024[8] - The company reported a segment net income of $42.0 million for the three months ended September 30, 2025, compared to a loss of $2.2 million in the same period of 2024[20] - Total revenue for the three months ended September 30, 2025, was $258.1 million, a 91.7% increase from $134.7 million in the same period of 2024[85] Assets and Liabilities - Total assets increased to $2,396,660 as of September 30, 2025, up from $1,994,504 at the end of 2024, representing a growth of 20.2%[3] - Total liabilities increased to $978,258 as of September 30, 2025, from $911,397 at the end of 2024, a rise of 7.3%[3] - Total assets as of September 30, 2025, were $2.4 billion, an increase from $2.0 billion as of December 31, 2024[21] - Total liabilities as of September 30, 2025, were $978.3 million, compared to $911.4 million as of December 31, 2024, reflecting an increase of 7.3%[21] - The company’s total financial liabilities for the nine months ended September 30, 2025, amounted to $85.5 million, compared to $26.7 million in 2024, indicating a significant increase in financial obligations[90] Cash and Cash Equivalents - Cash and cash equivalents rose to $417,881 in Q3 2025, compared to $252,535 in Q3 2024, reflecting a 65.3% increase[3] - Cash and cash equivalents at the end of the period were $417,881, significantly higher than $80,304 at the end of September 30, 2024[10] Debt Management - The current portion of long-term debt decreased to $53,310 in Q3 2025 from $22,132 in Q3 2024, indicating improved debt management[3] - Long-term debt decreased slightly from $516.2 million as of December 31, 2024 to $513.3 million as of September 30, 2025[39] - The principal amount of the 2029 Senior Notes was $450 million, with a carrying value of $450.6 million as of September 30, 2025[43] Equity and Shareholder Value - The company’s equity attributable to owners increased to $1,127,015 in Q3 2025, up from $798,571 in Q4 2024, reflecting a growth of 41.2%[3] - Total equity attributable to owners at September 30, 2025, was $1,127,015, compared to $808,862 at the end of September 30, 2024, showing growth in shareholder value[8] Operational Performance - Income from mining operations for the nine months ended September 30, 2025, was $274,716, up from $93,133 in the same period of 2024, a growth of 194.5%[4] - Operating cash flows before taxes for the nine months ended September 30, 2025, were $294,791, up from $55,355 in 2024, reflecting a strong operational performance[10] - Production costs for the three months ended September 30, 2025, were $103.6 million, up 32.2% from $78.4 million in 2024[88] Investments and Acquisitions - The company increased its interest in the Soto Norte Project from 20% to 51% on June 28, 2024, enhancing its operational control in Colombia[13] - The company acquired an additional 31% interest in the Soto Norte Project, increasing its ownership to 51%, with a total consideration of $295.4 million allocated based on fair value[22] - The company reported a loss of $3.2 million on the sale of the Juby Project to McFarlane Lake Mining Limited, with total consideration of $20.8 million[29] Employee Compensation - Share-based compensation for the nine months ended September 30, 2025, was $21,417, compared to $5,748 in 2024, indicating increased employee incentives[10] - Total share-based compensation expense for the three months ended September 30, 2025, was C$9,497, compared to C$2,533 for the same period in 2024[65] Financial Risks and Commitments - The company is exposed to risks associated with fluctuations in commodity prices and foreign currency exchange rates, and may enter into risk management contracts to mitigate these risks[72] - The company’s total undiscounted commitments, including interest and premiums, were $926.0 million as of September 30, 2025[79] - The company had no outstanding commodity hedging contracts in place as of September 30, 2025[84] Other Financial Metrics - The company recognized a total cost of inventories of $266.1 million for the nine months ended September 30, 2025, compared to $218.4 million in the same period of 2024, marking an increase of 21.9%[27] - The company recognized capitalized interest of $27.3 million for the period ended September 30, 2025, compared to $22.6 million for the year ended December 31, 2024[37] - The company recognized an accretion expense of $1.522 million related to provisions for the nine months ended September 30, 2025[49]