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Ero Copper Reports Second Quarter 2024 Operating and Financial Results
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Aug. 01, 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, Aug. 01, 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 six months ended June 30, 2024. Management will host a conference call tomorrow, Friday, August 2, 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 The Company reached a major inflection point with the successful production of first saleable copper concentrate at the Tucumã Project in early Q3 2024. Ramp up to commercial production is now underway Second quarter copper production was 8,867 tonnes at C1 cash costs(*) of $2.16 per pound of copper produced Gold production during the quarter was 16,555 ounces at C1 cash costs(*) and All-in Sustaining Costs (\"AISC\")(*) of $428 and $842, respectively, per ounce produced Second quarter financial results were bolstered by stronger metal prices and a favorable exchange rate environment, which also contributed to another quarter of record gross profit at the Xavantina Operations Net loss attributable to the owners of the Company of $53.2 million, or $0.52 per share on a diluted basis Adjusted net income attributable to the owners of the Company(*) of $18.6 million, or $0.18 per share on a diluted basis Adjusted EBITDA(*) of $51.5 million Available liquidity at quarter-end was $169.8 million, including $44.8 million in cash and cash equivalents, $100.0 million of undrawn availability under the Company's senior secured revolving credit facility, and $25.0 million of undrawn availability under the copper prepayment facility, entered into in May 2024 (*) 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 three and six months ended June 30, 2024 and the Reconciliation of Non-IFRS Measures section at the end of this press release. The Company is reaffirming full-year production and copper cash cost guidance and updating other 2024 guidance ranges to reflect H1 2024 performance, including exceptional year-to-d...