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Aris Mining Reports Record Q4 2024 Financial Results with Strong EBITDA Growth and Announces 25% Capacity Expansion at Marmato
VANCOUVER, BC, March 12, 2025 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces its financial and operating resu
About this update from Aris Mining Corp
[{"type":"text","content":" VANCOUVER, BC, March 12, 2025 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces its financial and operating results for the three months and full year ended December 31, 2024 (Q4 2024 and 2024, respectively). All amounts are expressed in U.S. dollars unless otherwise indicated. Highlights: Highest Quarterly Gold Production: 57,364 ounces (oz), highest quarterly production in 2024. Record Quarterly Financial Results: $22 million of net income1 and $67 million of EBITDA2 and in Q4 2024. Strong AISC Margin Growth: Segovia reduced its All-in Sustaining Cost per Ounce Sold (AISC/oz) to $1,485/oz in Q4 2024 and generated an AISC margin of $58 million, up 32% from $44 million in Q3 2024. Segovia Expansion on Track: Expanded processing facility set for commissioning in Q2 2025. Enhancing Marmato: Assessments completed to expand the in-construction Lower Mine by 25% to 5,000 tonnes per day (tpd), up from the initial 4,000 tpd. The updated cost to complete construction is $290 million, inclusive of the scope change which requires acceleration of certain project components into the initial capital phase. The Marmato production ramp up is scheduled to start in H2 2026. Balance Sheet Strength: Growing cash flow generation and refinancing of our Senior Notes contributed to a cash balance of $253 million as of December 31, 2024. Q4 2024 Q3 2024 2024 Gold production (ounces) 57,364 53,608 210,955 Segovia AISC/oz $1,485 $1,540 $1,507 EBITDA $66.6M $27.8M $147.5M Adjusted EBITDA $55.6M $43.0M $163.1M Net earnings (loss) $21.7M or $0.13/share $(2.1)M or ($0.01)/share $24.6M or $0.16/share Adjusted earnings $24.7M or $0.14/share $13.1M or $0.08/share $55.9M or $0.35/share Neil Woodyer, CEO of Aris Mining, commented: \"Q4 2024 was a standout quarter for Aris Mining, delivering our highest gold production of the year at 57,364 oz and our strongest financial results, with $55.6 million in Adjusted EBITDA and $24.7 million in Adjusted Earnings. At Segovia, we achieved a three-year high in AISC margin of $58.3 million, a 32% increase over Q3, reflecting our continued focus on improving operational efficiency and cost controls. For the full year, we generated $163 million in Adjusted EBITDA, reinforcing our financial strength as we advance our major expansion projects. We remain on track t...