September 12, 2023
Aris Mining Corp. (TSX:ARIS, BUY, C$11.00 target, Taylor Combaluzier) reported production results for Aug/23, from its Segovia operations in Colombia. The company processed ~55.3kt of ore at 11.7 g/t Au, producing a record 19,406 oz Au, which is the highest monthly production since the expansion of the Maria Dama processing plant in 2022. These results represent a 9% and 17% increase in throughput and grade, respectively, compared to the YTD average. Additionally, 148t of Zn and 103t of Pb were produced at its polymetallic plant. We are encouraged to see a material rise in production after a challenging start to the year. With ~139.5k oz Au produced YTD, Aris remains on track to achieve its 2023 production guidance of 220k-240k oz Au. The company’s objective is to produce +400k oz of Au annually by 2026, which we believe could be achieved with the development of the Marmato Lower Mine in addition to resource expansion at Segovia as highlighted by the recent drill results (read note). Read more
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Aris Mining Corp. – TSX:ARIS – 1,2
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