October 22, 2024
Aris Mining Corp. (TSX:ARIS, BUY, C$14.00 target, Taylor Combaluzier) has launched a US$400M senior notes offering due in 2029. Net proceeds are expected to be used to fund the redemption of its 6.875% Senior Notes (US$300M) due in 2026 and for working capital and general corporate purposes. Key catalysts ahead for Aris include Marmato Lower Mine construction updates (ongoing), Segovia plant expansion (Q1/25), and Soto Norte PFS (H1/25). We believe the expansion projects at Segovia and Marmato could boost production to ~500k oz Au by H2/26 (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.
