Business
Ero Copper reports record revenue, cash flow from operations and net income resulting in record earnings per share of $1.01 in 2019
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO) (“Ero” or the “C
About this update from Ero Copper Corp.
[{"type":"text","content":" (all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO) (“Ero” or the “Company”) today is pleased to announce its financial results for the three and twelve-months ended December 31, 2019. Management will host a conference call tomorrow, Friday, March 13, 2020, at 11:30 a.m. Eastern to discuss the results. Dial-in details for the call can be found near the end of this press release. HIGHLIGHTS Record annual copper production in 2019 with 42,318 tonnes of copper produced – a 39% year-on-year increase in production at the Curaçá Valley operations; Record C1 cash costs* of $0.80 and $0.93 per pound of copper produced during the three and twelve-month periods ended December 31, 2019, respectively; Record $31.2 and $134.1 million in Adjusted EBITDA* during the three and twelve-month periods ended December 31, 2019, respectively; Record cash flow from operations of $35.9 and $127.8 million during the three and twelve-month periods ended December 31, 2019, respectively; Record net income attributable to owners of the Company of $45.2 and $91.9 million ($0.49 and $1.01 per share on a diluted basis) during the three and twelve-month periods ended December 31, 2019; respectively; Record adjusted net income attributable to owners of the Company* of $40.7 and $86.3 million ($0.44 and $0.94 per share on a diluted basis) during the three and twelve-month periods ended December 31, 2019, respectively; 6,043 ounces of gold produced at C1 cash costs* of $980 per ounce during the fourth quarter resulting in full-year production of 30,434 ounces of gold at C1 cash costs* of $691 per ounce at the NX Gold Mine; and, Reiterate previously announced full-year production, operating cost and capital guidance for 2020. Commenting on the 2019 results, David Strang, President and CEO, stated, “2019 was a fantastic year for the Company and the financial results highlight the extraordinary quality of our assets and people. Execution of our business plan over the past several years has continued to translate to significant year-on-year growth in production and profitability – a trend we see continuing with the support of our exploration programs underway both within and around our existing operations and regionally throughout the Curaçá Valley. Our results are highli...