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Ero Copper Reports Fourth Quarter and Full Year 2023 Operating and Financial Results
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, March 07, 2024 (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, 2024 (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, 2023. Management will host a conference call tomorrow, Friday, March 8, 2024, 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 Fourth quarter copper production was 11,760 tonnes, bringing full-year copper production to 43,857 tonnes Copper C1 cash costs(*) for the quarter and year were $1.75 and $1.80, respectively. Including the benefit of realized gains on designated foreign exchange hedges, fourth quarter and full-year copper C1 cash costs(*) were $1.59 and $1.68, respectively Fourth quarter gold production was 16,867 ounces, contributing to record full-year gold production of 59,222 ounces Gold C1 cash costs(*) for the quarter and year were $413 and $422, respectively. All-in Sustaining Costs (\"AISC\")(*) for the same periods were $991 and $957, respectively Fourth quarter and full-year financial results reflect the continued execution of the Company's growth initiatives, including completion of the NX60 initiative, which resulted in record full-year operating margins at the Xavantina Operations Net income attributable to the owners of the Company for the quarter and year were $36.5 million and $92.8 million, respectively, or $0.37 and $0.98, respectively, per share on a diluted basis Adjusted net income attributable to the owners of the Company(*) for the quarter and year were $20.7 million and $82.8 million, respectively, or $0.21 and $0.87, respectively, per share on a diluted basis Fourth quarter and full-year adjusted EBITDA(*) were $50.3 million and $183.5 million, respectively (*) These are non-IFRS measures and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. Please refer to the Company’s discussion of Non-IFRS measures in its Management’s Discussion and Analysis for the year ended December 31, 2023 and the Reconciliation of Non-IFRS Measures section at the end of this press release. The Company achieved significant milestones across its org...