Aris Mining (ARIS.TO, ARIS) has released its preliminary production results for the first quarter of the current financial year. The company produced and sold just under 75,000 ounces of gold, recording a realized price of almost $4,900/oz, resulting in a total revenue of approximately $360M. The company will report its financial results in early May, but it goes without saying we can expect a very robust free cash flow result thanks to the strong production numbers and of course the high gold price.
The Segovia project accounted for almost 67,000 ounces of gold (thanks to an average grade of 12.41 g/t gold) while Marmato produced just under 8,000 ounces of gold that were recovered from 77,000 tonnes of rock at an average grade of 3.53 g/t. All eyes are on the Marmato CIP plant which is still expected to be operational at the end of this year.
Disclosure: The author has no position in Aris Mining but has sold put options on the company’s US listing. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
