Aris Mining Corp
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Mar 7, 2024
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EX-99.2 · Current Operations
Current Operations
During 2024, Aris Mining expects consolidated gold production of between 220,000 and 240,000 oz, with in-progress expansion projects to contribute to production growth in 2025 and beyond.
AISC per ounce sold at the Segovia Operations is expected to be between $1,225 and $1,325. It is notable that approximately 45% of the Segovia Operations gold production is from ‘partner-operated’ mining where the cost structure is based on a percentage of the US dollar gold price, ensuring a relatively fixed operating margin.
Aris Mining will resume providing cash cost and AISC/oz cost guidance for the Marmato Mine when the Lower Mine achieves commercial production.
| Operation | Segovia Operations | Marmato Upper Mine |
|---|---|---|
| Gold production (oz) | 200,000 to 220,000 | 20,000 to 25,000 |
| Cash cost per ounce sold1 | $975 to $1,075 | n/a |
| AISC per ounce sold1 | $1,225 to $1,325 | n/a |
| Exploration spend | $18.5 million | $2.2 million |
| 2024 Expansion Projects: | •$11 million, Segovia Operations processing plant expansion to 3,000 tpd •$140 to $150 million, Marmato Lower Mine construction, to be partially funded by $80 million of progress-based stream funding2 | |
| 1.Cash cost and AISC forecasts are based on a gold price of US$2,000/oz and an exchange rate of USD1:COP 3,900.2.The Company’s stream financing of $122 million is payable in three installments: $40 million at 25% project completion, $40 million at 50% project completion and $42 million at 75% project completion. | ||
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