Business
Ero Copper Reports Second Quarter Results
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Ero Copper Corp. (the “Company”) (TSX: ERO) t
About this update from Ero Copper Corp.
[{"type":"text","content":" (all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Ero Copper Corp. (the “Company”) (TSX: ERO) today is pleased to announce its financial results for the three and six months ended June 30, 2020. Management will host a conference call tomorrow, Friday, August 7, 2020, 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 Second quarter copper production of 11,178 tonnes of copper; New record quarterly C1 cash costs* of $0.65 per pound of copper produced ($0.71 per pound in Q1 2020) contributing to record quarterly cash flow from operations of $42.5 million during the three month period ended June 30, 2020; Significant increase in gold and silver production at the NX Gold Mine totalling 8,739 ounces of gold and 5,327 ounces of silver at record C1 cash costs* of $437 per ounce of gold produced during the period; Generated a quarterly record $42.4 million in Adjusted EBITDA* during the three month period ended June 30, 2020; Adjusted net income attributable to owners of the Company* of $20.3 million ($0.22 per share on a diluted basis) during the three month period ended June 30, 2020; Strong liquidity position at June 30, 2020 of $51.6 million; and, Reiterating full year production guidance and previously revised capital and operating cost guidance for 2020. Commenting on the results, David Strang, President & CEO, stated, “While our primary objective shifted at the onset of the COVID-19 pandemic to prioritize the health and well-being of our employees, contractors, their families and local communities, our operational performance, outstanding financial results and execution during the second quarter are testament to the hard work and efforts of our team, particularly in Brazil, during very trying times for them and their families. At our operations and at the corporate level we are committed to prudently managing the business so that we remain as well positioned as possible to withstand any unforeseen challenges that may arise as a result of COVID-19. I am pleased to report that our operations have and continue to perform well. At MCSA in the Curaçá Valley, we saw quarter-on-quarter increases in both tonnes and grades processed as well as improved metallurgical recove...