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
Company Specific Disclosure Details
Aris Mining Corp. – TSX:ARIS – 1,2
- The analyst has visited the head/principal office of the issuer or has viewed its material operations.
- The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit.
- In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services for the issuer.
- In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or an analyst involved in the preparation of the research report has provided services other than in the normal course investment advisory or trade execution services to the issuer for remuneration.
- An analyst who prepared or participated in the preparation of this research report has an ownership position (long or short) in, or discretion or control over an account holding, the issuer’s securities, directly or indirectly.
- Red Cloud Securities Inc. and its affiliates collectively beneficially own 1% or more of a class of the issuer’s equity securities.
- A partner, director, officer, employee or agent of Red Cloud Securities Inc. serves as a partner, director, officer or employee of (or in an equivalent advisory capacity to) the issuer.
- Red Cloud Securities Inc. is a market maker in the equity of the issuer.
- There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared or participated in the preparation of the research report, and the issuer.
Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.
