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Ero Copper Reports Second Quarter Results and Increases 2019 Production Guidance
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO) (“Ero” or the “Co
About this update from Ero Copper Corp.
[{"type":"text","content":"(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO) (“Ero” or the “Company”) today is pleased to announce its financial results for the three and six months ended June 30, 2019. Management will host a conference call tomorrow, Friday, August 9, 2019, 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 Second quarter copper production of 10,473 tonnes of copper resulting in 21,118 tonnes of total copper produced during the first half of 2019; C1 cash costs* of $1.04 and $0.97 per pound of copper produced during the three and six month period ended June 30, 2019, respectively; Second quarter production at the NX Gold Mine of 9,917 ounces of gold at C1 cash costs* of $517 per ounce of gold produced resulting in total production of 20,036 ounces of gold at C1 cash costs of $501 per ounce of gold produced during the first half of 2019; Generated $36.4 and $75.7 million in Adjusted EBITDA* and $37.3 and $62.4 million in cash flow from operations during the three and six month period ended June 30, 2019, respectively; Adjusted net income attributable to owners of the Company* of $15.3 and $31.0 million ($0.17 and $0.34 per share on a diluted basis) during the three and six month period ended June 30, 2019, respectively; Ended the second quarter with an improved cash position of $35.7 million; and, Increasing full-year production guidance outlook for 2019 by 2,000 tonnes of copper to between 38,000 and 40,000 tonnes of copper and guiding to the low-end of the Company’s C1 cash cost* guidance range (US$1.00 to US$1.10 per pound of copper produced). Commenting on the second quarter results, Noel Dunn, Executive Chairman stated, “As we look at the performance of the Company during the first half of 2019, it is remarkable how far this organization has come in such a short period of time. From an operational perspective, in the first half of 2019 we have produced over 75% of the copper that we produced during the full year in 2018 and more than all of the copper we produced in 2017. Our revised production guidance outlook for 2019 now calls for nearly double the production volumes of just two years ago – a remarkable accomplishment and I’d like to thank all our employees...