Core Insights - Aris Mining Corporation (ARMN) reported an increase in its second-quarter all-in-sustaining costs (AISC) per ounce, indicating a decline in cost efficiency in mining operations [1][3] - The Segovia Operations in Colombia showed AISC of $1,681 per ounce, up from $1,570 per ounce in the previous quarter and $1,571 per ounce year-over-year, driven by higher sustaining capital expenditures [1][7] - Consolidated AISC rose approximately 6% year-over-year to around $1,787 per ounce [1][7] Cost Drivers - The year-over-year increase in ARMN's costs was attributed to higher costs in purchased mill feed from Contract Mining Partners (CMPs), increased royalty and social contributions costs, and rising mining costs [2][7] - Despite the cost increases, the AISC margin improved significantly, climbing 199% year-over-year due to higher realized gold prices and increased sales volumes [2][7] Industry Comparison - Among peers, B2Gold Corp. (BTG) reported a 22% year-over-year increase in consolidated AISC to $1,519 per ounce, influenced by lower sales ounces from its mines [4] - AngloGold Ashanti plc (AU) also experienced higher total operating costs, with AISC per ounce increasing by 7% [5] Stock Performance and Valuation - ARMN's shares surged 132.6% year-to-date, outperforming the Zacks Mining – Gold industry's rise of 82.3%, primarily due to a spike in gold prices [6] - The forward 12-month earnings multiple for ARMN is 5.75, representing a 59.3% discount to the industry average of 14.14X, with a Value Score of A [10]