Aris Mining Corp
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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Sep 30, 2026 · Filed Nov 4, 2026
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Contents
EX-99.2 · CommitmentsNote 14c
| Commitments | Note 14c |
|---|
Approved by the Board of Directors and authorized for issue on November 4, 2026:
| "David Garofalo" (Signed) | Director | "Neil Woodyer" (Signed) | Director |
Condensed Consolidated Interim Statements of Income (Loss) (Unaudited; Expressed in thousands of US dollars, except share and per share amounts)
| Three months ended September 30, · Nine months ended September 30, | |||||
|---|---|---|---|---|---|
| Notes | 2026 | 2025 | 2026 | 2025 | |
| Revenue | 15 | $295,419 | $258,115 | $998,125 | $619,099 |
| Cost of sales | 16 | (136,994) | (113,692) | (412,966) | (290,141) |
| Depreciation and depletion | (20,133) | (13,459) | (53,701) | (36,122) | |
| Social contributions | (8,145) | (8,224) | (30,496) | (18,120) | |
| Income from mining operations | 130,147 | 122,740 | 500,962 | 274,716 | |
| General and administrative costs | (6,441) | (5,130) | (20,162) | (14,423) | |
| Loss from investments in associates | — | — | — | (14) | |
| Share-based compensation expense | 13h | (6,468) | (9,497) | (13,261) | (21,417) |
| Other expenses | (351) | (1,961) | (13,033) | (3,586) | |
| Income from operations | 116,887 | 106,152 | 454,506 | 235,276 | |
| Gain (loss) on financial instruments | 18 | 14,226 | (6,385) | 39,012 | (73,750) |
| Loss on disposal of Juby Project | — | (3,200) | — | (3,200) | |
| Finance income | 4,361 | 2,437 | 11,910 | 8,247 | |
| Finance costs | 17 | (6,723) | (9,390) | (21,934) | (30,260) |
| Foreign exchange loss | (20,526) | (13,520) | (72,018) | (26,741) | |
| Income before income tax | 108,225 | 76,094 | 411,476 | 109,572 | |
| Income tax (expense) recovery | |||||
| Current | (38,698) | (39,703) | (158,513) | (89,955) | |
| Deferred | (2,835) | 5,618 | 5,586 | 8,661 | |
| Net income | $66,692 | $42,009 | $258,549 | $28,278 | |
| Net income (loss) attributable to: | |||||
| Owners of the Company | $66,692 | $42,011 | $258,549 | $27,482 | |
| Non-controlling interest | — | (2) | — | 796 | |
| $66,692 | $42,009 | $258,549 | $28,278 | ||
| Earnings per share attributable to owners of the Company – basic | 13i | $0.32 | $0.21 | $1.25 | $0.15 |
| Weighted average number of outstanding common shares – basic | 206,519,188 | 199,171,052 | 206,296,949 | 183,644,213 | |
| Earnings per share attributable to owners of the Company – diluted | 13i | $0.32 | $0.21 | $1.24 | $0.15 |
| Weighted average number of outstanding common shares – diluted | 209,277,780 | 202,514,804 | 209,081,953 | 186,399,206 | |
Condensed Consolidated Interim Statements of Comprehensive Income (Loss)(Unaudited; Expressed in thousands of US dollars)
| Three months ended September 30, · Nine months ended September 30, | |||||
|---|---|---|---|---|---|
| Notes | 2026 | 2025 | 2026 | 2025 | |
| Net income | $66,692 | $42,009 | $258,549 | $28,278 | |
| Other comprehensive income: | |||||
| Items that will not be reclassified to profit in subsequent periods: | |||||
| Unrealized gain on Gold Notes due to changes in implied credit spread (net of tax effect) ⁽¹⁾ | 10b | 4,896 | 7,759 | 75 | 8,087 |
| Items that may be reclassified to profit in subsequent periods: | |||||
| Foreign currency translation adjustment (net of tax effect) | 37,146 | 39,942 | 164,963 | 98,437 | |
| Other comprehensive income | 42,042 | 47,701 | 165,038 | 106,524 | |
| Comprehensive income | $108,734 | $89,710 | $423,587 | $134,802 | |
| Comprehensive income (loss) attributable to: | |||||
| Owners of the Company | $108,734 | $89,712 | $423,587 | $134,006 | |
| Non-controlling interest | — | (2) | — | 796 | |
| $108,734 | $89,710 | $423,587 | $134,802 | ||
(1)The tax effect of the unrealized gain on Gold Notes due to changes in implied credit spread for the three and nine months ended September 30, 2026, was $nil and an expense of $353, respectively (September 30, 2025 - expense of $2,870 and an expense of $2,991).
Condensed Consolidated Interim Statements of Equity(Unaudited; Expressed in thousands of US dollars, except share and per share amounts)
| Share Capital - common shares · Contributed surplus · Accumulated OCI · Retained earnings (deficit) · Equity attributable to owners of the Company · Non-controlling interest · Total equity | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nine months ended September 30, 2026 · Notes · Number · Amount | ||||||||||||||||
| At December 31, 2025 | 205,532,283 | $1,168,974 | $421,412 | $(31,815) | $(112,511) | $1,446,060 | $— | $1,446,060 | ||||||||
| Exercise of options | 13d | 1,122,467 | 5,138 | (1,296) | — | — | 3,842 | — | 3,842 | |||||||
| Share-based compensation | 13h | — | — | 2,028 | — | — | 2,028 | — | 2,028 | |||||||
| Comprehensive income | — | — | — | 165,038 | 258,549 | 423,587 | — | 423,587 | ||||||||
| At September 30, 2026 | 206,654,750 | $1,174,112 | $422,144 | $133,223 | $146,038 | $1,875,517 | $— | $1,875,517 | ||||||||
| Notes · Share Capital - common shares · Contributed surplus · Accumulated OCI · Deficit · Equity attributable to owners of the Company · Non-controlling interest · Total equity | ||||||||||||||||
| Nine months ended September 30, 2025 | Number | Amount | ||||||||||||||
| At December 31, 2024 | 171,034,256 | $935,917 | $213,960 | $(160,450) | $(190,856) | $798,571 | $284,536 | $1,083,107 | ||||||||
| Exercise of options | 2,943,578 | 12,807 | (2,868) | — | — | 9,939 | — | 9,939 | ||||||||
| Exercise of warrants | 28,685,134 | 190,276 | — | — | — | 190,276 | — | 190,276 | ||||||||
| Share issuance costs | — | (2,169) | — | — | — | (2,169) | — | (2,169) | ||||||||
| Share-based compensation | 13h | — | — | 2,447 | — | — | 2,447 | — | 2,447 | |||||||
| Non-reciprocal contributions to Soto Norte Project | — | — | (6,055) | — | — | (6,055) | 6,055 | — | ||||||||
| Comprehensive income | — | — | — | 106,524 | 27,482 | 134,006 | 796 | 134,802 | ||||||||
| At September 30, 2025 | 202,662,968 | $1,136,831 | $207,484 | $(53,926) | $(163,374) | $1,127,015 | $291,387 | $1,418,402 | ||||||||
Condensed Consolidated Interim Statements of Cash Flows(Unaudited; Expressed in thousands of US dollars)
| Three months ended September 30, · Nine months ended September 30, | |||||
|---|---|---|---|---|---|
| Notes | 2026 | 2025 | 2026 | 2025 | |
| Operating Activities | |||||
| Net income | $66,692 | $42,009 | $258,549 | $28,278 | |
| Adjusted for the following items: | |||||
| Depreciation and depletion | 8 | 20,285 | 14,356 | 53,729 | 36,577 |
| Share-based compensation | 13h | 6,468 | 9,497 | 13,261 | 21,417 |
| Finance costs | 17 | 6,723 | 9,390 | 21,934 | 30,260 |
| (Gain) loss on financial instruments | 18 | (14,226) | 6,385 | (39,012) | 73,750 |
| Unrealized foreign exchange loss | 12,220 | 11,576 | 65,039 | 22,336 | |
| Income tax expense | 41,533 | 34,085 | 152,927 | 81,294 | |
| Other | 19 | (1,085) | 1,770 | (8,638) | (737) |
| Payment of deferred and performance share units | 13f,g | — | — | (26,509) | (2,221) |
| Precious metal stream deposit received | 12a | 41,968 | — | 81,984 | — |
| Changes in non-cash operating working capital items | 19 | (23,075) | (10,121) | (31,591) | 3,837 |
| Operating cash flows before taxes | 157,503 | 118,947 | 541,673 | 294,791 | |
| Income taxes paid | (16,900) | (13,228) | (156,157) | (60,593) | |
| Net cash provided by operating activities | 140,603 | 105,719 | 385,516 | 234,198 | |
| Investing Activities | |||||
| Additions to mining interests, plant and equipment | 8 | (133,447) | (61,810) | (300,372) | (158,861) |
| Cash proceeds from sale of Juby Project | — | 13,065 | — | 13,065 | |
| Purchase of marketable securities | 7b | — | — | (1,645) | — |
| Capitalized interest paid (net) | 8 | (9,042) | (6,159) | (32,829) | (16,992) |
| Net cash used in investing activities | (142,489) | (54,904) | (334,846) | (162,788) | |
| Financing Activities | |||||
| Repayment of Gold Notes | 10b | (4,063) | (4,064) | (12,191) | (12,068) |
| Payment of lease obligations | (1,052) | (288) | (2,733) | (1,577) | |
| Interest paid | 10a | — | — | (14,561) | (18,000) |
| Increase in gold in trust account | — | — | — | (234) | |
| Proceeds from exercise of stock options and warrants, net of issuance costs | 766 | 59,805 | 3,843 | 122,672 | |
| Net cash provided by (used in) financing activities | (4,349) | 55,453 | (25,642) | 90,793 | |
| Impact of foreign exchange rate changes on cash and equivalents | (295) | 1,449 | 2,120 | 3,143 | |
| Increase (decrease) in cash and cash equivalents | (6,530) | 107,717 | 27,148 | 165,346 | |
| Cash and cash equivalents, beginning of period | 425,552 | 310,164 | 391,874 | 252,535 | |
| Cash and cash equivalents, end of period | $419,022 | $417,881 | $419,022 | $417,881 | |
Notes to the Condensed Consolidated Interim Financial StatementsThree and nine months ended September 30, 2026 and 2025(Tabular amounts expressed in thousands of US dollars unless otherwise noted)
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