Aris Mining (US:ARMN)2019-11-15 20:20Financial Performance - Revenue for the first nine months of 2019 increased by 19% to $238.0 million, compared to $200.3 million in the same period of 2018[5, 11] - Adjusted EBITDA for the first nine months of 2019 was $106.1 million, a 35% increase compared to $78.7 million in the first nine months of 2018[5, 17] - Operating cash flow for the first nine months of 2019 increased to $68.7 million, compared to $56.2 million in the same period of 2018[5] - Free cash flow for the first nine months of 2019 was $38.7 million, compared to $29.6 million in the same period of 2018[5] Production and Costs - Gold production for the first nine months of 2019 was 174,754 ounces, compared to 162,741 ounces in the same period of 2018[5] - The company is on track to meet its 2019 annual production guidance of 225,000 to 240,000 ounces of gold[7, 34] - The average total cash cost decreased to $653/oz in the first nine months of 2019 from $674/oz in the first nine months of 2018[5, 13] - All-in sustaining cost (AISC) for the first nine months of 2019 was $886/oz, compared to $913/oz in the same period of 2018, and is expected to remain below $925/oz for the full year[5, 15] Marmato Project - A Preliminary Economic Assessment (PEA) was completed for the Marmato project, with a life-of-mine plan projecting 22 million ounces of gold at a cash cost of $799 per ounce and an AISC of $882/oz[29]