Aris Mining Corporation - TPRFF STOCK NEWS

Aris Mining Corporation, previously GCM Mining, announced its financial results for Q3 2022 and YTD 2022. Key highlights include cash and cash equivalents of $326 million, gold sales of 53,411 ounces at an all-in sustaining cost of $1,115 per ounce, and mining income of $39.8 million. The Segovia Operation's expansion increased production to 54,630 ounces. Updated mineral resource estimates show a 47% increase to 6 million ounces. The Marmato expansion project has a net construction cost of $158 million, with an expected average production of 162,000 ounces annually for nearly 20 years.

Aris Mining Corporation has updated its mineral resource and reserve estimates, along with a Preliminary Feasibility Study (PFS) for the Marmato expansion project, effective June 30, 2022. The new PFS indicates a significant increase in resources by 47% to 6.0 million ounces of gold and reserves by 57% to 3.2 million ounces compared to the 2020 PFS. The construction capital is estimated at $280 million, supported by $122 million in stream financing. The project’s NPV at a $1,600 gold price is $341 million, with an IRR of 30% and an estimated mine life of 20 years, yielding 162,000 ounces per year.

Aris Mining Corporation (TSX: ARIS) (OTCQX: TPRFF) has appointed Mónica de Greiff as an independent Board member and Chair of the Sustainability Committee, effective October 1, 2022. Mónica brings extensive experience, having previously served on the GCM Mining board and held significant roles in Colombia's government, including Minister of Justice. Ian Telfer, Chair of Aris Mining, expressed enthusiasm over her contributions, particularly in enhancing the company's commitment to ESG practices. Aris Mining operates high-grade mines in Colombia and is advancing various mining projects.

GCM Mining Corp. (TPRFF) announced that shareholders approved a plan of arrangement with Aris Gold Corporation during a special meeting on September 19, 2022. Approximately 31.19% of shares were voted, with 97.13% in favor. Aris Gold also secured shareholder approval. The transaction is set to close on September 26, 2022, pending customary closing conditions. Post-closure, GCM Mining will rebrand as Aris Mining Corporation, which will operate with two producing mines and additional projects across the Americas.

GCM Mining Corp. (TSX: GCM, OTCQX: TPRFF) reported a production increase of gold to 18,852 ounces in August 2022, up from 17,377 ounces the previous year. Total gold production in the first eight months reached 139,952 ounces, compared to 133,891 ounces in 2021. The Segovia Operations, aided by an expanded processing capacity, processed 57,073 tonnes of ore in August. Despite facing temporary supply issues for detonators, production is expected to stabilize. GCM remains aligned with its annual production guidance of 210,000 to 225,000 ounces for 2022.

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.

GCM Mining and Aris Gold have filed a joint management information circular ahead of special shareholder meetings slated for September 19, 2022. The meetings aim to approve their proposed business combination, initially announced on July 25, 2022. Upon completion, the new entity will be named Aris Mining Corporation, enhancing scale and risk diversification. Shareholders of Aris Gold will receive 0.5 GCM Mining shares per Aris share owned. The transaction is subject to customary approvals and is expected to close by the end of September 2022.

On August 17, 2022, GCM Mining Corp. (TSX: GCM, OTCQX: TPRFF) announced a monthly dividend of CA$0.015 per common share, payable on September 15, 2022, to shareholders recorded by August 31, 2022. GCM Mining is a mid-tier gold producer primarily operating in Latin America, notably the Segovia Operations in Colombia, which produced 206,389 ounces of gold in 2021. The company is also advancing the Toroparu Project in Guyana, projected to produce over 200,000 ounces of gold annually starting in 2024.

GCM Mining Corp. (OTCQX: TPRFF) released its unaudited financial results for Q2 and H1 2022, reporting consolidated revenue of $101.4 million, a 5% year-over-year increase, totaling $202.7 million for the half. Gold production was 53,198 ounces in Q2, up 2% annually. The company announced plans to merge with Aris Gold Corp, pending shareholder and regulatory approvals. Adjusted EBITDA for Q2 was $45.9 million, down from $48.0 million in Q2 2021. GCM maintained a robust cash position of $265.5 million, with free cash flow of $20.5 million in Q2.