Aris Water Solutions(US:ARIS) Prnewswireยท2024-10-07 22:40Core Viewpoint - Aris Mining Corporation reported a gold production of 53,608 ounces in Q3 2024, marking a 9% increase from Q2 2024, with significant progress on expansion projects at Segovia and Marmato [1][2][3] Production Results - Total gold production for Q3 2024 was 53,608 ounces, with 47,493 ounces from Segovia and 6,115 ounces from the Marmato Upper Mine [1] - This production represents a 9% increase compared to Q2 2024 [1] Expansion Projects - The Segovia expansion's Phase 1 is complete, enhancing mill feed capacity and operational efficiencies, while Phase 2 is underway and expected to be completed in Q1 2025 [3] - The Segovia expansion aims for gold production of 185,000 to 195,000 ounces in 2024, 250,000 ounces in 2025, and over 300,000 ounces in 2026 [3] - The Marmato Lower Mine expansion is progressing on schedule, with an expected annual production of 162,000 ounces over a 20-year mine life once operational [5] Mineral Resource and Reserve Estimates - Updated mineral resource estimates as of July 31, 2024, show growth in mineral resources and full replacement of mineral reserves, supporting ongoing expansion projects [4] - The 2024 mineral resource estimate includes 3,396,000 ounces of gold in measured and indicated categories [8] - The 2024 mineral reserve estimate includes 1,343,000 ounces of gold in proven and probable categories [12] Financial Milestones - As of September 30, 2024, the project reached the "25% spend" milestone, triggering a US$40 million payment under the precious metals purchase agreement with Wheaton Precious Metals [6]