ARIS MINING REPORTS Q1 2025 RESULTS WITH RECORD ADJUSTED EARNINGS PER SHARE, OPERATIONAL STRENGTH, AND PROGRESS ON GROWTH PROJECTS
Canada NewsWire
VANCOUVER, BC, May 7, 2025
VANCOUVER, BC, May 7, 2025 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces its financial and operating results for the three months ended March 31, 2025 (Q1 2025), with a strong start to the year marked by record gold prices, solid production performance, and continued investments in growth. Adjusted earnings per share (EPS) of $0.16 is the highest full quarter result since Aris Mining was formed in September 2022. All amounts are expressed in U.S. dollars unless otherwise indicated.
Neil Woodyer, CEO, commented "Aris Mining had a strong start to 2025, driven by solid operational execution, higher gold prices, and continued progress on our growth initiatives. At Segovia, we maintained production and high margins while advancing the plant expansion, which remains on track for commissioning in June. At Marmato, we are making steady progress on the Lower Mine development, with construction spend ramping up and plant capacity now targeting 5,000 tonnes per day. At our Toroparu Project in Guyana, we have launched a new study to update the development plan, and we look forward to demonstrating the potential of this project."
Q1 2025 Financial Performance
-- Gold revenue of $154.1 million, an increase of 47% over Q1 2024 and 4%
over Q4 2024.
-- Adjusted EBITDA1 of $66.6 million for Q1, and $201.3 million on a
trailing 12-month basis, up 134% for the quarter from Q1 2024 and up 20%
from Q4 2024.
-- Net earnings2 of $2.4 million, compared to a loss of $0.7 million in Q1
2024.
-- Adjusted net earnings of $27.2 million or $0.16/share, up from
$0.04/share in Q1 2024 and $0.14/share in Q4 2024. Record full quarterly
adjusted EPS since Aris Mining was formed in September 2022.
-- The Company ended the quarter with a cash balance of $240 million and net
debt3 of $250 million, implying a net leverage ratio of 1.2x.
Q1 2025 Q4 2024 Q1 2024
Gold production
(ounces) 54,763 57,364 50,767
Segovia -- Owner
Mining ($/ounce
sold) $1,482 $1,386 $1,553
Segovia -- CMP
AISC Margin 41 % 39 % 36 %
EBITDA $39.7M $66.6M $22.4M
Adjusted EBITDA $66.6M $55.6M $28.4M
Adjusted EBITDA,
last 12 months $201.3M $163.1M $147.8M
Net earnings $2.4M or $21.7M or ($0.7M) or
(loss)(2) $0.01/share $0.13/share ($0.01)/share
Adjusted earnings $27.2M or $24.7M or $5.4M or
$0.16/share $0.14/share $0.04/share
Adjusted earnings, $77.7M or $55.9M or $45.0M or
last 12 months $0.46/share $0.34/share $0.34/share
Q1 2025 Operational Performance
-- Gold production totaled 54,763 oz, an increase of 8% from 50,767 oz in Q1
2024 and accounting for 22% of the mid-point of the FY 2025 production
guidance range of 230 koz -- 275 koz. Production rates are expected to
progressively increase in H2 2025 following commissioning of the Segovia
plant expansion in June 2025.
-- Marmato Upper Mine produced 7,214 oz, a 23% increase over Q4 2024.
-- Segovia Operations produced 47,549 oz, supported by gold grades of 9.4
g/t and gold recoveries of 96.1%.
-- AISC margin increased to $60.9 million, a 114% increase over Q1
2024.
-- Owner Mining AISC increased to $1,482/oz (Q4 2024: $1,386; Q1
2024: $1,553), towards the lower end of the Company's full-year
2025 guidance range of $1,450 to $1,600.
-- Contract Mining Partner $(CMP)$ sourced gold delivered a 41% AISC
sales margin, outperforming the top end of the Company's full-year
2025 guidance range of 35% to 40%.
-- Total AISC increased to $1,570/oz (Q4 2024: $1,485; Q1 2024:
$1,434), driven primarily by gold prices, which increased costs
for purchased material from CMPs, as well as royalties and social
contributions.
Total Segovia Operating Information Q1 2025 Q4 2024 Q1 2024
Average realized gold price ($/ounce sold) $2,855 $2,642 $2,062
Tonnes milled (t) 167,150 167,649 154,425
Average tonnes milled per day (tpd) 1,966 1,949 1,817
Average gold grade processed (g/t) 9.37 9.84 9.42
Gold produced (ounces) 47,549 51,477 44,908
Gold sold (ounces) 47,390 50,409 45,288
AISC margin -- $M 60.9 58.3 28.5
Segovia Operating Information by Segment Q1 2025 Q4 2024 Q1 2024
Owner Mining
Gold sold (ounces) 26,963 28,149 22,445
Cash costs -- ($/ounce sold) $1,123 $1,042 $1,191
AISC -- ($/ounce sold) $1,482 $1,386 $1,553
AISC margin ($M) 37.0 35.3 11.4
CMPs
Gold sold (ounces) 20,427 22,260 22,843
Cash costs -- ($/ounce sold) $1,431 $1,399 $1,133
AISC -- ($/ounce sold) $1,687 $1,610 $1,316
AISC sales margin (%) 41 % 39 % 36 %
AISC margin ($M) 23.9 23.0 17.1
Total: Owner Mining & CMP AISC Margin ($M) 60.9 58.3 28.5
(*) Aris Mining operates its own mines and contracts
with community-based mining partners, referred to
as Contract Mining Partners (CMPs), to increase total
gold production. Some partners work within Aris Mining's
infrastructure, while others manage their own mining
operations on Aris Mining's titles using their own
infrastructure. In addition, Aris Mining purchases
high grade mill feed from third-party contractors
operating off-title, which further optimizes production
and increases operating margins.
Growth and Expansion Updates
-- The Company invested $43.0 million in growth and expansion initiatives
during the quarter, including:
-- $29.7 million toward the Marmato Lower Mine development; and
-- $6.4 million at Segovia to support plant expansion, underground
development and exploration.
-- In Q1 2025, our operations generated $40.0 million in cash flow after
sustaining capital and income tax, enabling us to internally-fund the
majority of our strategic growth and expansion investments.
-- The Segovia expansion to 3,000 tonnes per day (tpd) is nearing completion,
with the new ball mill to be installed in May and commissioning expected
in June 2025.
-- The Marmato Lower Mine construction is progressing well, with processing
plant capacity increased from 4,000 tpd to a planned 5,000 tpd:
-- decline development underway with 323 metres completed to the end
of April 2025;
-- earthworks completed for the main substation platform, and
continued earthworks for the process plant platform; and
-- continued arrival of equipment and materials on site, including
tailings filters, cyclones and sump pumps.
-- Soto Norte Project: the Company continues to advance the new
Pre-Feasibility Study, with completion expected in Q3 2025.
-- Toroparu Project: a new Preliminary Economic Assessment $(PEA.AU)$, prepared
in accordance with National Instrument 43-101, has been commissioned to
evaluate updated development options for the Toroparu project. Since
updating the mineral resource estimate for Toroparu in March 2023, Aris
Mining has also completed infrastructure optimization studies,
strengthening the foundation for the development plan. Completion of the
PEA is expected in Q3 2025.
Capital Structure Update
During Q1 2025 and through early May, Aris Mining continued to see strong participation in the exercise of its in-the-money TSX-listed ARIS.WT.A warrants, which expire on July 29, 2025. Year-to-date, the Company has received over $19.4M in proceeds from these warrant exercises, further strengthening the balance sheet and supporting growth initiatives at Segovia and Marmato.
As of May 6, 2025, Aris Mining has approximately 178.1 million common shares issued and outstanding, with 48.0 million ARIS.WT.A warrants remaining outstanding, which if fully exercised would result in the issuance of 24.0 million new Aris Mining shares and additional proceeds to the Company of C$132 million (or $96 million).
Following the expiry of the ARIS.WT.A warrants on July 29, 2025, the Company will have no remaining convertible securities outstanding, other than stock options issued under its stock option plan.
Since issuing its new $450 million senior unsecured bonds in October 2024, Aris Mining has steadily reduced both its total and net leverage ratios. As of March 31,2025, total leverage was 2.4x(3) and net leverage was 1.2x(3) .
Endnotes
(1) All references to adjusted earnings, EBITDA, adjusted EBITDA, adjusted (net) earnings, growth and expansion expenditures, cash flow after sustaining capital and income tax, cash costs and AISC are non-GAAP financial measures in this document. These measures do not have any standardized meaning prescribed under GAAP, and therefore may not be comparable to other issuers. Refer to the Non-GAAP Measures section in this document for a reconciliation of these measures to the most directly comparable financial measure disclosed in the Company's financial statements. (2) Net earnings represents net earnings attributable to owners of the company, as presented in the annual and interim financial statements for the relevant period. (3) Net debt is calculated as outstanding principal for the Senior Notes and the Gold-linked Notes, less cash. (4) Total and Net Leverage ratios are calculated by dividing total debt and net debt, respectively, by Adjusted EBITDA on a trailing 12-month basis.
Q1 2025 Conference Call Details
Management will host a conference call on Thursday, May 8, 2025, at 9:00 a.m. ET / 6:00 a.m. PT / 2:00 p.m. BST / 3:00 p.m. CEST to discuss the results.
Participants may gain expedited access to the conference call by registering at Diamond Pass Registration (dpregister.com). Once registered, call in details will be displayed on screen which can be used to bypass the operator and avoid the call queue. Registration will remain open until the end of the live conference call.
Webcast
-- Link: Webcast | Q1 2025 Conference Call
Conference Call
-- Toll-free North America: +1-833-821-0197 -- International: +1-647-846-2328
Audio Recording
-- After the call, an audio recording will be available via telephone until
the end of day on May 15, 2025.
-- Toll-free in the US and Canada: +1-855-669-9658
-- International: +1-412-317-0088; and using the access code: 3305587
A replay of the event will be archived at Events & Presentations - Aris Mining Corporation.
Aris Mining's Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2025 and 2024 and related MD&A are available on SEDAR+, in the Company's filings with the U.S. Securities and Exchange Commission (the SEC) and in the Financials section of Aris Mining's website here. Hard copies of the financial statements are available free of charge upon written request to info@aris-mining.com.
About Aris Mining
Founded in September 2022, Aris Mining was established with a vision to build a leading Latin America-focused gold mining company. Our strategy blends current production and cashflow generation with transformational growth driven by expansions of our operating assets, exploration and development projects. Aris Mining is listed on the TSX $(ARIS)$ and the NYSE-A (ARMN) and is led by an experienced team with a track record of value creation, operational excellence, financial discipline and good corporate governance in the gold mining industry.
Aris Mining operates two underground gold mines in Colombia: the Segovia Operations and the Marmato Upper Mine, which together produced 210,955 ounces of gold in 2024. With expansions underway, Aris Mining is targeting an annual production rate of more than 500,000 ounces of gold following the ramp-up of the Segovia mill expansion, expected during the second half of 2025, and the new Marmato Mine, which is expected to start ramping up in H2 2026. In addition, Aris Mining operates the 51% owned Soto Norte joint venture, where studies are underway on a new, smaller scale development plan, with results expected by mid-2025. In Guyana, Aris Mining owns the Toroparu gold/copper project, where a new Preliminary Economic Assessment (PEA) has been commissioned.
Colombia is rich in high-grade gold deposits and Aris Mining is actively pursuing partnerships with the Country's dynamic small-scale mining sector. With these partnerships, we enable safe, legal, and environmentally responsible operations that benefit both local communities and the industry.
Aris Mining intends to pursue acquisitions and other growth opportunities to unlock value through scale and diversification.
Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.
Cautionary Language
Non-GAAP Measures
EBITDA, adjusted EBITDA, adjusted (net) earnings, cash cost, total leverage, net leverage and AISC are non-GAAP financial measures and non-GAAP ratios. These financial measures do not have any standardized meaning prescribed under IFRS or by Generally Accepted Accounting Principles (GAAP) in the United States, and therefore may not be comparable to other issuers. For full details on these measures and ratios refer to the "Non-GAAP Financial Measures" sections of the Company's Management's Discussion and Analysis for the three months ended March 31, 2025 and 2024 and years ended December 31, 2024 and 2023 (MD&As). The MD&As are incorporated by reference into this news release and are available at www.aris-mining.com, on the Company's profile on SEDAR+ at www.sedarplus.ca and in its filings with the SEC at www.sec.gov.
We have presented total leverage and net leverage as non-GAAP ratios in this press release. Total leverage is calculated as the outstanding principal of the Company's debt instruments divided by trailing twelve-month adjusted EBITDA, and net leverage is calculated as net debt divided by trailing twelve-month adjusted EBITDA. We believe these ratios provide useful information to analysts, investors, and other stakeholders in assessing the Company's leverage and evaluating our balance sheet.
The tables below reconcile the non-GAAP financial measures contained in this news release for the current and comparative periods to the most directly comparable financial measure disclosed in the Company's interim financial statements for the three months ended March 31, 2025 and 2024, and Company's annual financial statements for the three months and years ended December 31, 2024 and 2023.
Quarterly cash-flow summary
Three months ended,
($000's) Q1 2025 Q4 2024
Gold revenue $154,142 $148,381
Total cash cost(1) (72,730) (73,688)
Royalties (6,359) (5,748)
Social contributions (4,334) (4,228)
Sustaining capital (6,589) (6,357)
Lease payments on sustaining capital (480) (567)
All in sustaining cost (AISC)(1) (90,492) (90,588)
AISC margin 63,650 57,793
Taxes paid(2) (5,121) (25,152)
General and administration expense(2) (4,106) (8,084)
Decrease (increase) in VAT receivable (11,761) 18,906
Other changes in working capital (3,415) 8,650
Impact of foreign exchange losses on cash balances(2) 768 (2,699)
After-tax adjusted sustaining margin(3) 40,015 49,414
Expansion and growth capital expenditure(1)
Marmato Lower Mine (29,661) (18,998)
Segovia Operations (6,368) (21,041)
Marmato Upper Mine -- (5,369)
Toroparu Project (2,411) (1,719)
PSN (4,566) (3,604)
Change in accrued capital expenditures and other
additions (5,938) 9,204
Total expansion and growth capital (48,944) (41,527)
Financing and other costs(4)
Proceeds from warrant and option exercises(2) 5,197 1,427
Principal repayment of Gold Notes(2) (3,941) (3,695)
Repayment of 2026 Senior Notes (2) -- (305,157)
Net proceeds from 2029 Senior Notes(2) -- 441,294
Precious metal stream deposit received(2) -- 40,016
Capitalized interest paid(2) (5,031) (3,959)
Interest (paid) received - net(2) -- (5,582)
Total financing and other costs (3,775) 164,344
Net change in cash(2) (12,704) 172,231
Opening cash balance at beginning of period(2) 252,535 80,304
Closing cash balance at end of period(2) 239,831 252,535
1. Refer to the Non-GAAP Financial Measures section
for full details on cash costs ($ per oz sold), AISC
($ per oz sold), and additions to mining interests
split by nature and site which are on an accrual basis.
2. As presented in the Financial Statements and notes
for the respective periods.
3. After-tax adjusted sustaining margin is defined
as operating cash flow adjusted for the receipt of
the WPMI milestone payment, sustaining capital expenditures
and sustaining lease payments.
4. Financing and other costs are defined as financing
activities as presented in the Financial Statements
adjusted for capitalized interest paid and receipt
of the WPMI milestone payment.
Cash costs per ounce
Reconciliation of total cash costs by business unit at Segovia and Marmato to the cash costs as disclosed above.
Three months ended Three months ended Dec 31, 2024
Mar 31, 2025
($000s except Segovia Marmato Total Segovia Marmato Total
per ounce
amounts)
Total gold sold
(ounces) 47,390 6,891 54,281 50,409 5,925 56,334
Cost of
sales(1) 67,091 15,384 82,475 68,078 15,111 83,189
Less: materials
and supplies
inventory
provision -- -- -- (965) (225) (1,190)
Less:
royalties(1) (4,519) (1,840) (6,359) (4,342) (1,406) (5,748)
Add: by-product
revenue(1) (3,073) (313) (3,386) (2,308) (255) (2,563)
Total cash
costs 59,499 13,231 72,730 60,463 13,225 73,688
Total cash
costs ($ per
oz gold sold) $1,256 $1,199
Total cash
costs
including
royalties 64,018 64,805
Total cash
costs
including
royalties ($
per oz gold
sold) $1,351 $1,286
Three months ended Mar 31,
2024
($000s except Segovia Marmato Total
per ounce
amounts)
Total gold sold
(ounces) 45,288 5,756 51,044
Cost of
sales(1) 57,949 13,384 71,333
Less: materials -- -- --
and supplies
inventory
provision
Less:
royalties(1) (3,008) (1,084) (4,092)
Add: by-product
revenue(1) (2,318) (112) (2,430)
Total cash
costs 52,623 12,188 64,811
Total cash
costs ($ per
oz gold sold) $1,162
Total cash
costs
including
royalties 55,631
Total cash
costs
including
royalties ($
per oz gold
sold) $1,228
1 As presented in the Annual and Interim Financial
Statements and notes thereto for the respective periods.
Cash costs per ounce -- Business Units (Segovia)
Three months ended Mar 31, Three months ended Dec 31
2025 2024
($000s except Owner CMPs Total Owner CMPs Total
per ounce
amounts)
Total gold sold
(ounces) 26,963 20,427 47,390 28,149 22,260 50,409
Cost of sales(1) 34,799 32,292 67,091 34,518 33,560 68,078
Less: materials
and supplies
inventory
provision -- -- -- (717) (248) (965)
Less:
royalties(1) (2,783) (1,736) (4,519) (2,754) (1,588) (4,342)
Add: by-product
revenue(1) (1,748) (1,325) (3,073) (1,727) $(581.SI)$ (2,308)
Total cash costs 30,268 29,231 59,499 29,320 31,143 60,463
Total cash costs
($ per oz gold
sold) $1,123 $1,431 $1,256 $1,042 $1,399 $1,199
Three months ended Mar 31,
2024
($000s except Owner CMPs Total
per ounce
amounts)
Total gold sold
(ounces) 22,445 22,843 45,288
Cost of sales(1) 30,085 27,864 57,949
Less:
royalties(1) (1,677) (1,331) (3,008)
Add: by-product
revenue(1) (1,663) (655) (2,318)
Total cash costs 26,745 25,878 52,623
Total cash costs
($ per oz gold
sold) $1,192 $1,133 $1,162
1 As presented in the Annual and Interim Financial
Statements and notes thereto for the respective periods.
All-in sustaining costs (AISC)
Reconciliation of total AISC by business unit at Segovia and Marmato to the AISC as disclosed above.
Three months ended Mar 31, Three months ended Dec 31,
2025 2024
($000s except Segovia Marmato Total Segovia Marmato Total
per ounce
amounts)
Total gold sold
(ounces) 47,390 6,891 54,281 50,409 5,925 56,334
Total cash
costs 59,499 13,231 72,730 60,463 13,225 73,688
Add:
royalties(1) 4,519 1,840 6,359 4,342 1,406 5,748
Add: social
programs(1) 4,061 273 4,334 4,063 165 4,228
Add: sustaining
capital
expenditures 5,856 733 6,589 5,426 931 6,357
Add: lease
payments on
sustaining
capital 480 -- 480 567 -- 567
Total AISC 74,415 16,077 90,492 74,861 15,727 90,588
Total AISC ($
per oz gold
sold) $1,570 $1,485
Three months ended Mar 31,
2024
($000s except Segovia Marmato Total
per ounce
amounts)
Total gold sold
(ounces) 45,288 5,756 51,044
Total cash
costs 52,623 12,188 64,811
Add:
royalties(1) 3,008 1,084 4,092
Add: social
programs(1) 2,289 1,166 3,455
Add: sustaining
capital
expenditures 6,496 824 7,320
Add: lease
payments on
sustaining
capital 506 -- 506
Total AISC 64,922 15,262 80,184
Total AISC ($
per oz gold
sold) $1,434
1 As presented in the Annual and Interim Financial
Statements and notes thereto for the respective periods.
All-in sustaining costs (AISC) -- Segovia by Business Unit
Three months ended Mar 31, Three months ended Dec 31,
2025 2024
($000s except Owner CMPs Total Owner CMPs Total
per ounce
amounts)
Total gold sold
(ounces) 26,963 20,427 47,390 28,149 22,260 50,409
Total cash
costs 30,268 29,231 59,499 29,320 31,143 60,463
Add:
royalties(1) 2,783 1,736 4,519 2,754 1,588 4,342
Add: social
programs(1) 2,501 1,560 4,061 2,558 1,505 4,063
Add: sustaining
capital
expenditures 3,917 1,939 5,856 3,819 1,607 5,426
Add: lease
payments on
sustaining
capital 480 -- 480 567 -- 567
Total AISC 39,949 34,466 74,415 39,018 35,843 74,861
Total AISC ($
per oz gold
sold) $1,482 $1,687 $1,570 $1,386 $1,610 $1,485
Three months ended Sep 30, Three months ended June 30,
2024 2024
($000s except Owner CMPs Total Owner CMPs Total
per ounce
amounts)
Total gold sold
(ounces) 22,952 25,107 48,059 20,183 23,183 43,366
Total cash
costs 24,820 35,579 60,399 24,660 31,682 56,342
Add:
royalties(1) 1,999 1,507 3,506 1,720 1,358 3,078
Add: social
programs(1) 2,449 1,845 4,294 1,185 935 2,120
Add: sustaining
capital
expenditures 3,640 1,783 5,423 4,677 1,547 6,224
Add: lease
payments on
sustaining
capital 389 -- 389 364 -- 364
Total AISC 33,297 40,714 74,011 32,606 35,522 68,128
Total AISC ($
per oz gold
sold) $1,451 $1,622 $1,540 $1,616 $1,532 $1,571
Three months ended Mar 31,
2024
($000s except Owner CMPs Total
per ounce
amounts)
Total gold sold
(ounces) 22,445 22,843 45,288
Total cash
costs 26,745 25,878 52,623
Add:
royalties(1) 1,677 1,331 3,008
Add: social
programs(1) 1,276 1,013 2,289
Add: sustaining
capital
expenditures 4,659 1,837 6,496
Add: lease
payments on
sustaining
capital 506 -- 506
Total AISC 34,863 30,059 64,922
Total AISC ($
per oz gold
sold) $1,553 $1,316 $1,434
1 as presented in the annual and interim financial
statements and notes thereto for the respective periods.
Additions to mineral interests, plant and equipment
($'000) Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sustaining capital Segovia Operations 5,856 5,426 6,496 Marmato Upper Mine 733 931 824 Total 6,589 6,357 7,320 Non-sustaining capital Marmato Lower Mine 29,661 18,998 14,865 Segovia Operations 6,368 21,041 11,023 Soto Norte Project $(PSN)$ 4,566 3,604 -- Marmato Upper Mine -- 5,369 2,278 Toroparu Project 2,411 1,719 1,939 Juby Project 4 34 3 Total 43,010 50,765 30,108 Corporate Assets -- -- -- Additions to mining interest, plant and equipment(1) 49,599 57,122 37,428
Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA
Three months ended,
($000s) Mar 31, Dec 31, Sept 30, June 30, Mar 31,
2025 2024 2024 2024 2024
Earnings (loss)
before tax(1) 21,220 37,513 13,603 17,904 10,310
Add back:
Depreciation and
depletion(1) 10,734 9,530 9,019 8,082 7,519
Finance income(1) (2,336) (1,606) (1,351) (1,691) (2,246)
Interest and
accretion(1) 10,037 21,165 6,493 6,496 6,803
EBITDA 39,655 66,602 27,764 30,791 22,386
Add back:
Share-based
compensation(1) 3,784 (483) 2,533 1,373 1,842
(Income) loss
from equity
accounting in
investee(1) 14 14 17 2,301 551
(Gain) loss on
financial
instruments(1) 16,628 (6,561) 12,842 6,144 3,742
Other (income)
expense(1) 535 1,116 (428) 2,681 --
Foreign exchange
(gain) loss(1) 5,997 (5,113) 311 (7,211) (108)
Adjusted EBITDA 66,613 55,575 43,039 36,079 28,413
1.As presented in the Annual and Interim Financial
Statements and notes for the respective periods.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA
($000s) Mar 31, 2024 Dec 31, 2023 Sept 30, June 30, 2023
2023
Earnings (loss)
before tax(1) 10,310 7,963 26,156 18,925
Add back:
Depreciation and
depletion(1) 7,519 7,535 10,938 8,825
Finance income(1) (2,246) (2,580) (3,672) (2,358)
Interest and
accretion(1) 6,803 6,772 6,757 6,746
EBITDA 22,386 19,690 40,179 32,138
Add back:
Share-based
compensation(1) 1,842 2,977 528 459
Revaluation of
investments
(Denarius/Aris) -- 536 -- 10,023
(Income) loss
from equity
accounting in
investee(1) 551 (3,667) (1,062) 1,428
(Gain) loss on
financial
instruments(1) 3,742 13,429 (374) (11,756)
Other (income)
expense(1) -- (1,442) 21 35
Foreign exchange
(gain) loss(1) (108) 6,685 2,285 7,237
Adjusted EBITDA 28,413 38,208 41,577 39,564
1.As presented in the Annual and Interim Financial
Statements and notes for the respective periods.
Adjusted net earnings and adjusted net earnings per share
Three months ended,
($000s except shares Mar 31, Dec 31, Sept 30, June 30, Mar 31,
amount) 2025 2024 2024 2024 2024
Basic weighted
average shares
outstanding 171,622,649 170,900,890 169,873,924 151,474,859 138,381,653
Net earnings
(loss)(1) 2,368 21,687 (2,074) 5,713 (744)
Add back:
Share-based
compensation(1) 3,784 (483) 2,533 1,373 1,842
(Income) loss from
equity accounting
in investee(1) 14 14 17 2,301 551
(Gain) loss on
financial
instruments(1) 16,628 (6,561) 12,842 6,144 3,742
Other (income)
expense(1) 535 1,116 (428) 2,681 --
Loss on -- 11,463 -- -- --
extinguishment of
Senior Notes
Foreign exchange
(gain) loss(1) 5,997 (5,113) 311 (7,211) (108)
Income tax effect on
adjustments (2,099) 2,536 (109) 1,738 78
Adjusted net (loss)
/ earnings 27,227 24,659 13,092 12,739 5,361
Per share -- basic
($/share) 0.16 0.14 0.08 0.08 0.04
1.As presented in the Annual and Interim Financial
Statements and notes for the respective periods.
Adjusted net earnings and adjusted net earnings per share
($000s except Mar 31, 2024 Dec 31, 2023 Sept 30, June 30, 2023 shares amount) 2023 Basic weighted average shares outstanding 138,381,653 137,313,095 137,192,545 136,229,686 Net earnings (loss)(1) (744) (5,944) 13,833 9,899 Add back: Share-based compensation(1) 1,842 2,977 528 459 Revaluation of investments (Denarius/Aris) -- 536 -- 10,023 (Income) loss from equity accounting in investee(1) 551 (3,667) (1,062) 1,428 (Gain) loss on financial instruments(1) 3,742 13,429 (374) (11,756) Other (income) expense(1) -- (1,442) 21 35 Loss on -- -- -- -- extinguishment of Senior Notes Foreign exchange (gain) loss(1) (108) 6,685 2,285 7,237 Income tax effect on adjustments 78 (2,221) (796) (2,453) Adjusted net (loss) / earnings 5,361 10,353 14,435 14,872 Per share -- basic ($/share) 0.04 0.08 0.11 0.11 1. As presented in the Annual and Interim Financial Statements and notes for the respective periods.
Qualified Person and Technical Information
Pamela De Mark, P.Geo., Senior Vice President Geology and Exploration of Aris Mining, is a Qualified Person as defined by National Instrument 43-101 (NI 43-101), and has reviewed and approved the technical information contained in this news release.
Forward-Looking Information
This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the Company's ability to deliver on its 2025 objectives, the completion timeline and expected benefit from the Sevogia expansion, the completion timeline and expected benefit from the Marmato Lower Mine construction, the expected completion date of the new pre-feasibility study for the Soto Norte Project, the completion date of the new preliminary economic assessment for the Toroparu Project, benefits to the Company from the exercise of its outstanding warrants and statements included in the "About Aris Mining" section of this news release relating to the Segovia Operations, Marmato Mine, Soto Norte Project and Toroparu Project are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release.
Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 12, 2025 which is available on SEDAR+ at www.sedarplus.ca and in the Company's filings with the SEC at www.sec.gov.
Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Company has and continues to disclose in its Management's Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
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SOURCE Aris Mining Corporation
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/CONTACT:
Aris Mining Contact: Oliver Dachsel, Senior Vice President, Capital Markets, +1.917.847.0063; Lillian Chow, Director, Investor Relations & Communications, info@aris-mining.com
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May 07, 2025 17:09 ET (21:09 GMT)