Q2 2024 Aris Mining Corp Earnings Call Transcript
Key Points
- Aris Mining Corp (ARMN) produced 49,000 ounces of gold in Q2 and 99,983 ounces in H1 2024.
- Generated a half-year adjusted EBITDA of $64.5 million and adjusted earnings of $18.1 million or $0.12 per share.
- Segovia operations generated a significant all-in sustaining margin of $60.6 million in H1, contributing to funding expansion projects.
- The drilling program at Segovia continues to deliver high-grade intersections, confirming the continuity and extensions of large-scale veins.
- The expansion projects at Segovia and Marmato remain on track, with an expected annual gold production rate of approximately 500,000 ounces by the second half of 2026.
- Experienced an unplanned seven-day plant maintenance shutdown in April, affecting H1 production.
- Cash costs for untitled CMPs rose by 11% in Q2, driven by a 12% increase in realized gold prices.
- Higher cash costs for third-party CMPs due to increased gold prices and higher-grade material delivery.
- Full-year cash costs per ounce at Segovia are now expected to range between $1,125 to $1,225, up from prior guidance of $975 to $1,075.
- Full-year 2024 ASIC per ounce at Segovia is now expected to range between $1,400 to $1,500, up from prior guidance of $1,225 to $1,325.
Good morning everyone and welcome to the Aris Mining Q2 2024 operational and financial results call. (Operator Instructions).
Please note that the accompanying presentation that management will refer to during today's call can be found in the events and presentation section of Aris Mining's website and arismining.com.
Also, Aris Mining's second quarter 2024 financials have been filled on SEDAR+ and EDGAR and can also be found on their website.
I would now like to turn the conference over to Mr. Neil Woodyer, Chief Executive Officer. Please go ahead.
Thank you, Operator, and good morning to everybody and thank you for joining us on our 2024 Q2 earnings call. With me today in Bogota are Richard Thomas, our COO, and Richard Orazietti, our CFO. But before we go into the quarterly results, I'd like to draw your attention to slide 2, which shows our quarterly statements, as we will be making several forward-looking statements today.
With that out of the way, and
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