ARIS MINING Q1 PRODUCTION ON TRACK TO DELIVER FULL YEAR 2024 GUIDANCE WHILE EXPANSION PROJECTS ADVANCE
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Insights
Examining the recent operational performance and growth strategy of Aris Mining is imperative for understanding their potential market position. The reported production of 50,768 ounces of gold in the first quarter is a tangible measure of current capabilities. This figure, in conjunction with the full-year production guidance of 220,000 to 240,000 ounces, provides a clear production trajectory. Investors should note the consistency in processed gold grades, here at 9.4 g/t from the Segovia mine, which suggests operational stability.
Furthermore, the significance of the expansion projects cannot be understated. Increasing the Segovia processing capacity and advancing the Marmato Lower Mine show a strategic move towards scaling operations. The long-term goal to boost production to 500,000 ounces by 2026 signals aggressive growth, but it's important to consider the capital expenditure and potential operational risks associated with such expansions. Delays or cost overruns in these projects could impact future earnings and thus investor returns.
From a financial perspective, achieving the forecasted production levels is essential for the company's revenue stream. The reported alignment with budget expectations in Q1 is a positive indicator of financial management. Yet, investors should scrutinize the company's quarterly financial statements for cost implications of the planned maintenance and the capital investment in expansion projects. The efficiency of the firm's capital allocation towards these projects will be a determinant in their ability to meet the ambitious 2026 production target.
Additionally, the gold mining sector is influenced by gold prices, which are subject to international market fluctuations. Investors would be wise to monitor these trends, as any significant changes could alter the anticipated return on investment. The company's hedging strategies against price volatility should also be a point of consideration.
An insight into the technical aspects of Aris Mining's operations reveals key points for consideration. The Segovia mine's transition to higher-grade zones in later quarters is a strategic move, as higher-grade ore generally leads to more efficient production and better margins. The finalized geotechnical studies and the ongoing engineering and design phases are critical steps in de-risking the expansion projects.
However, the complexities involved in scaling up mining operations should not be overlooked. For instance, the construction of new infrastructure, such as the portal and decline at the Marmato Lower Mine, requires meticulous planning and execution. Potential geological challenges or unforeseen environmental issues could impact the project timelines. Investors should recognize the inherent risks of mining activities, which can affect both the short-term and long-term profitability of the company.
Neil Woodyer, CEO of Aris Mining, commented "In line with our budget, our mines produced 50,768 ounces of gold in Q1. Plant throughput was slightly reduced in Q1 because of planned maintenance at the
At the
At the Marmato Lower Mine expansion project, the access road to the new processing facility area is now complete and earthworks in the plant area will commence soon. The contractor for the new portal and decline is fully mobilized and cutting of the portal face has commenced. Once complete, the Marmato Upper and Lower mines are expected to produce 162,000 ounces per year over a 20-year mine life."
Please visit www.aris-mining.com and navigate to the media section featuring our Marmato operation, alternatively, through this LINK. Here, Aris Mining will regularly share media content, including time-lapse videos, to keep investors informed about the construction progress at Marmato.
Aris Mining will announce its full Q1 2024 financial results after market close on Tuesday, May 14, 2024.
Aris Mining is a gold producer in the
Aris Mining promotes the formalization of artisanal and small-scale mining into contract mining partners as this process enables all miners to operate in a legal, safe and responsible manner that protects them and the environment.
Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.
The technical information in this news release was reviewed and approved by Pamela De Mark, P.Geo, Senior Vice President, Geology and Exploration of Aris Mining, who is a Qualified Person as defined by NI 43-101. Unless otherwise indicated, the scientific disclosure and technical information included in this news release are based upon information included in the NI 43-101 compliant technical reports listed below and are available for review on SEDAR+ at www.sedarplus.ca, on the Company's website at www.aris-mining.com, and in the Company's filings with the
- "NI 43-101 Technical Report for the Segovia Operations, Antioquia,
Colombia " dated December 6, 2023 with an effective date of September 30, 2023 and prepared by Pamela De Mark, P.Geo., Inivaldo Diaz, CP, and Cornelius Lourens, FAusIMM. - "Technical Report for the Marmato Gold Mine, Caldas Department,
Colombia , Pre-Feasibility Study of the Lower Mine Expansion Project" dated November 23, 2022 with an effective date of June 30, 2022 and prepared by Ben Parsons, MAusIMM (CP), Anton Chan, Peng, Brian Prosser, PE, SME-RM, Joanna Poeck, PE, SME-RM, Eric J. Olin, SME-RM, MAusIMM, Fredy Henriquez, SME-RM, ISRM, David Hoekstra, PE, NCEES, SME-RM, Mark Allan Willow, CEM, SME-RM, Vladimir Ugorets, MMSA, Colleen Crystal, PE, GE, Kevin Gunesch, PE, Tommaso Roberto Raponi, PEng, David Bird, PG and Pamela De Mark, P.Geo.
This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the expected production increase from Q2 to Q4, the Company remaining on-track to deliver full year 2024 production guidance, the Company being in position to produce 500,000 ounces in 2026, the expected production at the Segovia Operations after completion of the expansion project, the Marmato Lower Mine expansion project and the details and timing thereof and the Company's plans and strategies are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release.
Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 6, 2024 which is available on SEDAR+ at www.sedarplus.ca and in the Company's filings with the SEC at www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release contains information that may constitute future-orientated financial information or financial outlook information (collectively, FOFI) about the Company's prospective financial performance, financial position or cash flows, all of which is subject to the same assumptions, risk factors, limitations and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise or inaccurate and, as such, undue reliance should not be placed on FOFI. The Company's actual results, performance and achievements could differ materially from those expressed in, or implied by, FOFI. The Company has included FOFI in order to provide readers with a more complete perspective on the Company's future operations and management's current expectations relating to the Company's future performance. Readers are cautioned that such information may not be appropriate for other purposes. FOFI contained herein was made as of the date of this news release. Unless required by applicable laws, the Company does not undertake any obligation to publicly update or revise any FOFI statements, whether as a result of new information, future events or otherwise.
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SOURCE Aris Mining Corporation
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