Aris Mining (TSX: ARIS) achieved guidance with respect to its production targets for 2024. The miner last night indicated it had produced 210,995 ounces of gold for the full year, while revised guidance had called for production to range from 205,000 to 220,000 ounces.
The figures follow Aris’ Segovia mine producing 187,583 ounces of gold through the year, while the Marmato Upper Mine saw production of 23,372 ounces. Gold sales for the full year totaled 210,616 ounces.
The fourth quarter was notably the strongest production quarter of the year, with a total of 57,364 ounces of gold produced. Segovia contributed 51,477 ounces of production, while Marmato contributed 5,887 ounces in the fourth quarter. Gold sales during the quarter meanwhile totaled 56,334 ounces.
Aris meanwhile finished the quarter with US$253 in cash.
Looking to 2025, the company has guided to annual production between 230,000 and 275,000 ounces of gold. Much of that production is to come from Segovia, where the processing facility is currently in the process of being expanded to a capacity of 3,000 tonnes per day. Commissioning is set to occur in the second quarter, with the mine forecasted to produce 210,000 to 250,000 ounces of gold in 2025.
In terms of costing, Segovia is expected to have cash costs of $1,050 to $1,150 per ounce, while all in sustaining costs from the mining portion of operations are expected to be between $1,450 to $1,600 per ounce. All in sustaining cost margins on mill-feed purchased from contract mining partners are expected to be in the range of 35% to 40%.
Costing guidance for Marmato meanwhile will not be provided until the lower mine achieves commercial production, which is scheduled to occur in 2026.
Aris Mining last traded at $5.41 on the TSX.
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