Business
Ero Copper third quarter production and financial results continue to position the Company for growth
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Nov. 10, 2021 (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, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or the “Company”) is pleased to announce its financial results for the three and nine months ended September 30, 2021. Management will host a conference call tomorrow, Thursday, November 11, 2021, at 12:30 p.m. Eastern time to discuss the results. Dial-in details for the call can be found near the end of this press release. HIGHLIGHTS Copper production of 10,057 tonnes at the MCSA Mining Complex at C1 cash costs(*) of $0.94 per pound of copper produced during the quarter; Gold production of 9,426 ounces at the NX Gold Mine at C1 cash costs(*) of $538 per ounce of gold produced and All-in Sustaining Costs (\"AISC\")(*) of $741 per ounce of gold produced; Strong quarterly adjusted EBITDA(*) of $72.9 million and adjusted net income attributable to owners of the Company(*) of $45.7 million ($0.49 per share on a diluted basis); Record quarterly cash flows from operations of $150.7 million driven by strong operating performance and a $100.0 million upfront payment related to the August 2021 closing of the $110 million streaming agreement with Royal Gold (as defined below) in relation to gold production from the NX Gold Mine (the \"NX Gold Stream\"); Announced results of optimized Feasibility Study for the Boa Esperança Project, doubling life- of-mine copper production compared to the 2017 Study (as defined below); Repaid $100.0 million of principal on the $150.0 million senior secured revolving credit facility, resulting in available liquidity at quarter-end of $219.1 million, including $92.6 million of cash and cash equivalents, $26.4 million in short-term investments, and $100.0 million of undrawn availability under the senior secured revolving credit facility; and, Tracking towards the high-end of the Company's reaffirmed 2021 production guidance ranges; lowering full-year AISC guidance for the NX Gold Mine to $650 to $725 per ounce of gold produced and updating 2021 capital expenditure guidance for the MCSA Mining Complex to reflect the acceleration of capital expenditures associated with key projects into Q4 2021 as well as the impact of inflationary pressures on capitalized development. Commenting on the results, David Strang, CEO, stated, “The third quarter was in...