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Ero Copper Reports Fourth Quarter and Full Year 2022 Operating and Financial Results
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, March 07, 2023 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero
About this update from Ero Copper Corp.
[{"type":"text","content":" (all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, March 07, 2023 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or the “Company”) is pleased to announce its operating and financial results for the three and twelve months ended December 31, 2022. Management will host a conference call tomorrow, Wednesday, March 8, 2023, at 11:30 a.m. Eastern time to discuss the results. Dial-in details for the call can be found near the end of this press release. HIGHLIGHTS Record full-year copper production of 46,371 tonnes, including 12,664 tonnes produced in the fourth quarter, surpassed the Company’s 2022 production guidance range of 43,000 to 46,000 tonnes Copper C1 cash costs(*) for the fourth quarter and full-year were $1.41 and $1.36, respectively, per pound of copper produced Gold production also marked a record 42,669 ounces in 2022, including 11,786 ounces produced in the fourth quarter, and exceeded the full-year guidance range of 39,000 to 42,000 ounces Gold C1 cash costs(*) for the fourth quarter and full-year were $445 and $560, respectively, per ounce of gold produced. All-in Sustaining Costs (“AISC”)(*) for the same periods were $1,096 and $1,124, respectively, per ounce of gold produced Fourth quarter and full-year cash flows from operations were $34.0 million and $143.4 million, respectively Fourth quarter and full-year adjusted EBITDA(*) were $58.2 million and $208.6 million, respectively Fourth quarter and full-year adjusted net income attributable to owners of the Company(*) were $22.2 million ($0.24 per share on a diluted basis) and $83.5 million ($0.91 per share on a diluted basis), respectively Capital expenditures were nearly $90 million in the fourth quarter as construction activity related to the Company’s strategic growth initiatives ramped up. Full-year capital expenditures, including deposits on contracts, were just under $300 million, below 2022 capital expenditure guidance of $308 million to $354 million, primarily due to the success of Project Honeypot and subsequent deferral of the delivery date for the new external shaft of Pilar Mine Available liquidity at year-end was $392.4 million, including cash and cash equivalents of $177.7 million, short-term investments of $139.7 million, and $75.0 million of undrawn availability under the Company’s senior secured revo...