ALLXF - ALLXF STOCK NEWS

GCM Mining and Aris Gold have filed a joint management information circular for special meetings on September 19, 2022, to approve their business combination. Upon completion, the new entity, Aris Mining Corporation, will enhance production scale and diversify project risks. Shareholders of Aris Gold will receive 0.5 GCM shares for each Aris share held, leading to an ownership split of approximately 74% and 26% for GCM and Aris shareholders, respectively. Approval from shareholders and regulatory bodies is required, with expectations for the transaction to close by the end of September 2022.

Aris Gold Corporation (OTCQX: ALLXF) reported its Q2 2022 financial results, highlighting a 29% revenue increase to $14.5 million, driven by a 24% rise in gold production. The company acquired a 20% interest in the Soto Norte project, with potential to increase to 50%. Production costs at Marmato were $1,287 per ounce, with an AISC of $1,537. Net earnings showed a loss of $1.7 million, while cash and equivalents stood at $111.2 million. The company is set to merge with GCM Mining, pending shareholder approval, to enhance its operational portfolio.

Aris Gold Corporation (OTCQX: ALLXF) and GCM Mining Corp. announced a definitive agreement for GCM to acquire all outstanding Aris Gold shares, forming a larger entity with significant free cash flow and a combined gold reserve of 3.8 Moz. This all-share transaction is set to strengthen operational ability and streamline corporate structure, creating a leading gold company in Colombia. The combined financial position includes US$657 million in cash and committed funding, facilitating growth opportunities as they aim to produce over 1 million ounces annually in the coming years.

Aris Gold Corporation (OTCQX: ALLXF) held its Annual General and Special Meeting on June 3, 2022, with 60.59% of shares represented. Eight directors were elected with high approval rates, notably Ian Telfer and Neil Woodyer, receiving over 98% support. KPMG LLP was re-appointed as auditors. Shareholders approved the issuance of up to 20 million common shares related to the conversion of a $35 million debenture to GCM Mining Corp. This meeting reflects strong shareholder engagement and support for the company's governance and financial resolutions.

Aris Gold Corporation (OTCQX: ALLXF) announced its Q1 2022 financial and operational results, highlighting a strong performance at the Marmato Upper Mine. The company achieved gold sales of 7,698 ounces at an all-in sustaining cost (AISC) of $1,466 per ounce, leading to $3.4 million in free cash flow. With a net earnings of $3.1 million, a significant turnaround from a $7.3 million loss in Q1 2021, Aris remains on track to meet its full-year production guidance of 40,000 to 45,000 ounces. The company also advanced construction plans for the Lower Mine and expects first gold production by Q4 2023.

Aris Gold Corporation (OTCQX: ALLXF) has finalized a 20% joint venture acquisition in the Soto Norte gold project, with a potential to gain an additional 30%. They raised $65 million to enhance existing precious metals streams for their Marmato Mine and issued a $35 million convertible debenture at a conversion price of $1.75 per share. The Soto Norte project boasts indicated resources of 8.5 million ounces of gold and a feasibility study projecting production of over 450,000 ounces annually. The project has a net present value of $1.5 billion and aims to create local jobs and employ sustainable practices.

Aris Gold Corporation has entered a definitive agreement with Mubadala to acquire a 20% interest in the Soto Norte gold project in Colombia, with an option to increase to 50%. The project boasts indicated mineral resources of 8.5 million ounces of gold and a feasibility study showing potential production of 450,000 ounces annually at an AISC of $471 per ounce. Aris Gold's enhanced financial position includes a $100 million upsized precious metals stream and a $35 million convertible debenture. The partnership aims to uphold high environmental standards and promote local community development.

Aris Gold Corporation reported its Q4 and full-year financial results for 2021, highlighting operational advancements including the construction of the Lower Mine. In 2022, the Upper Mine is expected to generate $20 million in free cash flow, aiding the Lower Mine's progress. The company achieved a 42% increase in gold resources at Marmato, totaling 5.8 million ounces. However, net earnings saw a loss of $1.57 million for the year. Total cash costs per ounce decreased, but AISC rose to $1,656. The construction investment for 2022 is projected at $85 million.