Business
Ero Copper Reports Third Quarter Results
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Nov. 05, 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, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Ero Copper Corp. (the “Company”) (TSX: ERO) today is pleased to announce its financial results for the three and nine months ended September 30, 2020. Management will host a conference call tomorrow, Friday, November 6, 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 Third quarter copper production of 10,961 tonnes of copper; New record quarterly C1 cash costs* of $0.63 per pound of copper produced ($0.65 per pound in Q2 2020) contributing to record quarterly cash flow from operations of $44.4 million during the three month period ended September 30, 2020; Increasing gold and silver production at the NX Gold Mine totalling 9,436 ounces of gold and 5,736 ounces of silver at new record quarterly C1 cash costs* of $421 per ounce of gold produced during the period ($437 per ounce in Q2 2020); Generated a new quarterly record $62.5 million in Adjusted EBITDA* during the three month period ended September 30, 2020 – a $20.1 million improvement over Q2 2020; Adjusted net income attributable to owners of the Company* of $36.7 million ($0.40 per share on a diluted basis) during the three month period ended September 30, 2020; Continued strong liquidity position at September 30, 2020 of $54.3 million; and, Reaffirm copper production guidance for the full year. While previously revised C1 cash cost ranges remain unchanged, the Company expects to be near or slightly below the low-end of the range for 2020. Capital guidance has been revised to incorporate continuity and expansions of the Company’s ongoing exploration programs into the fourth quarter. Commenting on the results, David Strang, President & CEO, stated, “Firstly, I would like to congratulate all of our colleagues at our MCSA operations for achieving a full year without a lost-time-injury on September 30th. While we had to celebrate this accomplishment virtually, I am extremely proud of the team’s dedication and hard work that went into achieving this milestone, made more difficult this year by the additional challenges associated with mitigating the impact of COVID-19 on their families, community and our operations. On top of this, operations at MCSA have ...