Aris Mining Reports Q1 2026 Results Record Revenue, Cash Flow, and Adjusted Earnings with All Four Assets Advancing
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 6, 2026--Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS; NYSE: ARIS) announces its financial and operating results for the three months ended March 31, 2026 (Q1 2026). All amounts are in U.S. dollars unless otherwise indicated.
Q1 2026 Financial Performance
- Production of 74.3 thousand ounces (koz) of gold, up 6% from Q4 2025.
- Gold revenue of $364 million, up 21% from Q4 2025.
- Adjusted EBITDA1 of $212 million, up 26% from Q4 2025. On a trailing 12-month basis, Adjusted EBITDA1 of $610 million.
- Adjusted net earnings of $124 million or $0.60/share, up from $0.46/share in Q4 2025.
- Cash balance of $472 million as of March 31, 2026, up $80 million from December 31, 2025.
- Net debt reduced to near zero.
Neil Woodyer, Chair and CEO, commented, “Supported by record financial results and strong cash generation from our operations, we advanced all four of our assets in Q1 2026. At Segovia, the ongoing ramp-up contributed to a 5% increase in production compared with Q4 2025. At Marmato, construction of the new 5,000 tonnes per day (tpd) CIP plant remains on schedule for first gold in Q4 2026, and the April 2026 decline breakthrough into the cross-cut marked an important milestone, providing direct access to the plant.
At Toroparu, the prefeasibility study is progressing well, with updated mineral resource and reserve estimates advancing to support mine schedule optimizations, and a construction decision is expected in early 2027. At Soto Norte, the submission of the environmental license application is nearing completion, alongside active engagement with the Colombian regulators to support a collaborative approach to the submission and review process.
With our producing assets delivering strong results and our growth projects continuing to advance, Aris Mining is well positioned to achieve its longer-term objective of approximately 1 million ounces of annual gold production.2 With the right assets in place, we remain focused on executing and delivering against our plans.”
| Q1 2026 | Q4 2025 Q1 2025 | |
|---|---|---|
| Gold production (koz), total Gold sold (koz), total | 74.3 | 69.9 54.8 71.7 54.3 |
| 74.8 | ||
| Segovia – AISC1, Owner Mining ($/oz sold) Segovia – CMP3 AISC1 Sales Margin1 | $1,492 | $1,662 $1,482 46% 41% |
| 40% | ||
| EBITDA1 (US$M) Adjusted EBITDA1 (US$M) Adjusted EBITDA1, last 12 months (US$M) | $182 | $120 $40 $168 $67 $464 $201 |
| $212 | ||
| $610 | ||
| Net earnings4 (US$M) Adjusted earnings4 (US$M) Adjusted earnings4, last 12 months (US$M) | $98 or $0.47/share | $51 or $0.25/share $2 or $0.01/share $94 or $0.46/share $27 or $0.16/share $241 or $1.28/share $78 or $0.46/share |
| $124 or $0.60/share | ||
| $337 or $1.71/share |
Q1 2026 Operational Performance
- Segovia produced 66.6 koz, a 5% increase over Q4 2025.
- Production reflected the processing of 175.4 thousand tonnes (kt) at 12.41 g/t, compared to 201.1 kt at 10.10 g/t in Q4 2025.
- AISC margin increased 31% to $199 million from Q4 2025, supported in part by a 23% increase in average mill feed grade.
- Owner-operated mining contributed 64% of the mill feed, while Contract Mining Partner (CMP) sourced mill feed contributed 36%, consistent with Q4 2025.
- Owner-operated mining AISC was $1,492/oz, compared to $1,662/oz in Q4 2025, outperforming the full-year 2026 guidance range of $1,700 to $1,800/oz, primarily reflecting a 14% increase in owner-mining attributable ounces sold, driven in part by higher average grades.
- CMP-sourced gold delivered an AISC sales margin of 40%, achieving the top-end of the full-year 2026 guidance range of 35% to 40%.
- Combined AISC was $1,963/oz, up 4% from $1,891/oz in Q4 2025, reflecting the factors driving Owner-operated mining and CMP AISC described above.
- Marmato produced 7.8 koz, a 16% increase over Q4 2025.
- Production reflected the processing of 77.0 kt at 3.53 g/t, compared to 74.6 kt at 3.12 g/t in Q4 2025.
- This increased production reflects the operating capacity of the existing flotation plant together with mill feed sourced primarily from ore development and stopes in the Bulk Mining Zone.
- Throughput is expected to increase materially upon commissioning of the new Carbonin-Pulp (CIP) plant later this year in the fourth quarter.
- Aris Mining plans to exit 2026 operating the 5,000 tpd design capacity CIP plant at approximately 3,000 tpd. Production is expected to increase through 2027, with throughput increasing to approximately 4,000 tpd by mid-2027 and reaching the full 5,000 tpd by the end of 2027 when the paste backfill plant is fully commissioned.
Project Development Highlights
- Strong operating cash flow fully funded growth and generated $42 million in net cash
flow
- In Q1 2026, operations generated $103 million in cash flow after sustaining capital and income taxes, fully funding the Company’s growth and expansion initiatives. After expansion capital, Aris Mining generated net cash flow of $42 million. Refer to the cash-flow summary in the following sections and MD&A for additional analysis.
- Marmato construction advancing on schedule
- The new underground decline has now broken through into the cross-cut, marking an important milestone that provides direct access from the Bulk Mining Zone to the new 5,000 tpd CIP plant. This connection establishes an additional access and ventilation pathway, facilitates ore and waste haulage between existing and new infrastructure, and supports the initial ramp-up of mine production.
- The main civil, mechanical, and electrical works are advancing, with foundations for the mills, tailings thickener, and leach and CIP tanks completed.
- Construction of underground workshops, main pump station and field offices will begin in Q2 2026.
- First gold from the new CIP plant remains on schedule for Q4 2026.
- Toroparu Project (100% owned, Guyana)
- Aris Mining initiated a Prefeasibility Study (PFS) last year, targeted for completion in H2 2026, to support a construction decision in early 2027.
- Work on updated mineral resource and reserve estimates is progressing well with mine scheduling and optimizations currently underway.
- Alongside the PFS, Aris Mining is also conducting geotechnical drilling, metallurgical test work, mining operation trade-off studies and detailed engineering to enable construction readiness by early 2027.
- Select pre-construction activities are continuing, including construction of the bridge at the Puruni River crossing, key personnel ramp up, camp expansion and ongoing road works.
- Preliminary Economic Assessment (PEA) completed in October 2025, outlining an attractive project with average annual gold production of 235 koz and an after-tax NPV5% of $1.8 billion, IRR of 25%, and 3.0-year payback at an assumed gold price of $3,000/oz.5
- Soto Norte Project (100% owned, Colombia)
- The studies required for submission of the environmental license application in support of the development of Soto Norte are nearing completion, supporting a targeted Q2 2026 submission.
- Aris Mining continues active engagement with the Colombian regulators to support a collaborative approach to the environmental license submission and review process.
- PFS completed in September 2025, demonstrating robust economics with average annual gold production (years 2 to 10) of 263 koz and an after-tax NPV5% of $2.7 billion, IRR of 35%, and 2.3-year payback at an assumed gold price of $2,600/oz.6 Strong leverage to higher gold prices, at $3,000/oz the NPV5% increases to $3.3 billion with an IRR of 40%.
- The PFS incorporates industry-leading environmental and social design features, including a metallurgical process free of cyanide and mercury and the integration of local community miners – 750 tpd (over 20% of Soto Norte’s 3,500 tpd processing capacity) has been dedicated to local contract mining partners.
Q1 2026 Conference Call Details
Management will host a conference call on Thursday, May 7, 2026, at 6:00 am PT / 9:00 am ET / 2:00 pm GMT to discuss the results.
Participants may gain expedited access to the conference call by registering at Diamond Pass Registration. 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 2026 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 end of day May 14, 2026
- Toll-free in the US and Canada: +1-855-669-9658
- International: +1-412-317-0088; and using the access code: 7133252
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, 2026 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 [email protected].
About Aris Mining
Aris Mining is a Canadian gold mining company focused on South America. The Company operates the Segovia and Marmato underground gold mines in Colombia, which together produced approximately 257,000 ounces of gold in 2025. Aris Mining is listed on the TSX and NYSE under the symbol ARIS.
The Company is advancing expansion projects at Segovia and Marmato that are expected to increase annual gold production to approximately 500,000 ounces 7, driven by the ramp-up at Segovia following the installation of the second mill, which was completed in June 2025, and construction of the new Marmato bulk mine and CIP plant, with first gold expected in Q4 2026.
Aris Mining’s portfolio supports a longer-term objective of approximately 1 million ounces of annual gold production2. Key projects include the high-grade Soto Norte gold project in Colombia, where environmental studies are being finalized for submission in Q2 2026 to initiate the licensing process, and the Toroparu gold project in Guyana, where a Prefeasibility Study is in progress to support a construction decision expected in early 2027.
Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.
Endnotes
1. All references to adjusted earnings, EBITDA, adjusted EBITDA, growth capital investment, cash flow after sustaining capital and income taxes, cash costs ($ per oz) and AISC ($ per oz) are non- GAAP financial measures in this document. These measures are intended to provide additional information to investors. They do not have any standardized meanings under IFRS, and therefore may not be comparable to other issuers and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. 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. Includes potential production estimates from Toroparu, which is based on a preliminary economic assessment effective October 21, 2025, which contemplates a 7.0 Mtpa operation over a 21.3-year mine life with average annual gold production of approximately 235 koz at a base case gold price of US$3,000/oz. The preliminary economic assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There can be no assurance that the projected production will be achieved. In the case of Soto Norte and Toroparu, such production also remains subject to obtaining all necessary permits and to formal construction decisions by the Company.
3. Aris Mining operates its own mines and contracts with community-based mining partners, referred to as Contract Mining Partners or 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.
4. Net earnings represents net earnings attributable to owners of the company, as presented in the annual and interim financial statements for the relevant period.
5. See technical report dated October 28, 2025 and entitled “NI 43-101 Technical Report Preliminary Economic Assessment for the Toroparu Project Cuyuni-Mazaruni Region, Guyana”. Note that this PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
6. See technical report dated September 3, 2025 and entitled “NI 43-101 Technical Report Prefeasibility Study for the Soto Norte Project, Santander, Colombia.”
7. Reflects expected steady-state annual gold production run-rates of approximately 300 koz at Segovia and 200 koz at Marmato following completion and ramp-up of the respective expansion projects. For more information, please refer to the Company’s news releases dated June 30, 2025 regarding the Segovia expansion and March 12, 2025 regarding the Marmato expansion.
Non-GAAP Measures
Cash costs & all-in sustaining cost per ounce
For the three months ended, Segovia Mar 31, 2026 Dec 31, 2025 Mar 31, 2025
| Total gold sold (ounces) Cost of sales1 Less: materials and supplies inventory provision1 Less: royalties1 Add: by-product revenue1 | 67,709 | 64,456 47,390 103,043 67,091 (1,174) — (8,598) (4,519) (5,828) (3,073) |
| 116,108 | ||
| — | ||
| (11,139) | ||
| (7,449) | ||
| Total cash costs Add: royalties1 Add: social contributions1 Add: sustaining capital expenditures and lease payments | 97,520 | 87,443 59,499 8,598 4,519 9,168 4,061 16,654 6,336 |
| 11,139 | ||
| 12,358 | ||
| 11,917 | ||
| Total AISC AISC per ounce sold | 132,934 | 121,863 74,415 $1,891 $1,570 |
| $1,963 | ||
| Marmato | ||
| Total gold sold (ounces) Cost of sales1 Less: materials and supplies inventory provision1 Less: royalties1 Add: by-product revenue1 | 7,134 | 7,261 6,891 21,322 15,384 (254) — (2,223) (1,840) (1,493) (313) |
| 23,096 | ||
| — | ||
| (3,332) | ||
| (306) | ||
| Total cash costs Add: royalties1 Add: social contributions1 Add: sustaining capital expenditures | 19,458 | 17,352 13,231 2,223 1,840 158 273 2,192 733 |
| 3,332 | ||
| 940 | ||
| 1,481 | ||
| Total AISC | 25,211 | 21,925 16,077 |
| Consolidated | ||
| Total gold sold (ounces) Cost of sales1 Less: materials and supplies inventory provision1 Less: royalties1 Add: by-product revenue1 | 74,843 | 71,717 54,281 124,365 82,475 (1,428) — (10,821) (6,359) (7,321) (3,386) |
| 139,204 | ||
| — | ||
| (14,471) | ||
| (7,755) | ||
| Total cash costs Add: royalties1 Add: social contributions1 Add: sustaining capital expenditures and lease payments | 116,978 | 104,795 72,730 10,821 6,359 9,326 4,334 18,846 7,069 |
| 14,471 | ||
| 13,298 | ||
| 13,398 | ||
| Total AISC | 158,145 | 143,788 90,492 |
All-in sustaining cost per ounce – business units (Segovia)
For the three months ended,
| Segovia - Owner Mining | Mar 31, 2026 | Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 |
|---|---|---|
| Total gold sold (ounces) Cost of sales1 Less: inventory provision Less: royalties1 Add: by-product revenue1 | 45,789 | 40,260 40,984 32,685 26,963 52,773 48,502 39,532 34,799 (895) — — — (5,689) (5,000) (3,605) (2,783) (3,610) (2,566) (1,714) (1,748) |
| 54,858 | ||
| — | ||
| (7,805) | ||
| (5,037) | ||
| Total cash costs Add: royalties1 Add: social contributions1 Add: sustaining capital and lease payments | 42,015 | 42,578 40,936 34,213 30,268 5,689 5,000 3,605 2,783 6,058 5,155 3,366 2,501 12,601 8,430 8,511 4,397 |
| 7,805 | ||
| 8,660 | ||
| 9,835 | ||
| Total AISC AISC ($/oz sold) | 68,315 | 66,926 59,521 49,695 39,949 $1,662 $1,452 $1,520 $1,482 |
| $1,492 |
Segovia - CMPs
| Total gold sold (ounces) Cost of sales1 Less: inventory provision Less: royalties1 Add: by-product revenue1 | 21,920 | 24,196 24,596 21,066 20,427 50,271 44,747 37,187 32,292 (279) — — — (2,909) (2,532) (1,934) (1,736) (2,218) (1,550) (1,084) (1,325) |
| 61,250 | ||
| — | ||
| (3,334) | ||
| (2,412) | ||
| Total cash costs Add: royalties1 Add: social contributions1 Add: sustaining capital and lease payments | 55,505 | 44,865 40,665 34,169 29,231 2,909 2,532 1,934 1,736 3,110 2,632 1,811 1,560 4,053 2,256 2,773 1,939 |
| 3,334 | ||
| 3,698 | ||
| 2,082 | ||
| Total AISC AISC ($/oz sold) | 64,619 | 54,937 48,085 40,687 34,466 $2,270 $1,955 $1,931 $1,687 |
| $2,948 |
Segovia - Combined
| Total gold produced (ounces) Total gold sold (ounces) Gold revenue Avg realized gold price ($/oz sold) Cost of sales1 Less: inventory provision Less: royalties1 Add: by-product revenue1 | 66,567 | 63,137 65,549 51,527 47,549 64,456 65,580 53,751 47,390 273,127 229,116 177,551 135,310 $4,237 $3,494 $3,303 $2,855 103,043 93,249 76,719 67,091 (1,174) — — — (8,598) (7,532) (5,539) (4,519) (5,828) (4,116) (2,798) (3,073) |
| 67,709 | ||
| 331,611 | ||
| $4,898 | ||
| 116,108 | ||
| — | ||
| (11,139) | ||
| (7,449) | ||
| Combined cash costs Add: royalties1 Add: social contributions1 Add: sustaining capital and lease payments | 97,520 | 87,443 81,601 68,382 59,499 8,598 7,532 5,539 4,519 9,168 7,787 5,177 4,061 16,654 10,686 11,284 6,336 |
| 11,139 | ||
| 12,358 | ||
| 11,917 | ||
| Combined AISC AISC ($/oz sold) AISC Margin | 132,934 | 121,863 107,606 90,382 74,415 $1,891 $1,641 $1,681 $1,570 151,264 121,510 87,169 60,895 |
| $1,963 | ||
| 198,677 |
Operating free cash flow and free cash flow after growth and expansion capital
| ($’000) | Mar 31, 2026 | Dec 31, 2025 Mar 31, 2025 |
|---|---|---|
| Operating cash flows before taxes1 Adjusting Items: Precious metal stream deposit settled (received) 1 Finance income1 Impact of FX on cash and cash equivalents1 | 184,981 | 160,462 51,882 10,000 — (4,353) (2,336) (545) 768 |
| (40,016) | ||
| (3,383) | ||
| 814 | ||
| Adjusted operating cash flows before taxes Less: Income taxes paid1 | 142,396 | 165,564 50,314 (21,686) (5,121) |
| (26,171) | ||
| Adjusted net cash provided by operating activities Less: Sustaining capital Less: Sustaining lease payments | 116,225 | 143,878 45,193 (18,389) (6,589) (457) (480) |
| (12,837) | ||
| (561) | ||
| Cash flow from operations after sustaining capital and income taxes Less: Growth and expansion capital | 102,827 | 125,032 38,124 (67,735) (43,010) |
| (61,251) | ||
| Free cash flow after growth and expansion capital | 41,576 | 57,297 (4,886) |
1. As presented in the financial statements and notes thereto for the respective periods.
Additions to mineral interests, plant and equipment
| ($’000) | Mar 31, 2026 | Dec 31, 2025 Mar 31, 2025 |
|---|---|---|
| Sustaining capital Segovia Marmato | 16,197 5,856 2,192 733 | |
| 11,356 | ||
| 1,481 | ||
| Total Sustaining Capital Non-sustaining capital Marmato Segovia Soto Norte Project and other Toroparu Project | 12,837 | 18,389 6,589 43,562 29,661 16,161 6,368 4,885 4,570 3,127 2,411 |
| 47,031 | ||
| 5,454 | ||
| 3,445 | ||
| 5,321 | ||
| Total (Growth Capital Investment) | 61,251 | 67,735 43,010 |
| Additions to mining interest, plant and equipment1 | 74,088 | 86,124 49,599 |
1. As presented in the financial statements and notes thereto for the respective periods.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA
| ($000s) | Mar 31, 2026 | Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 |
| Earnings (loss) before tax1 Add back: Depreciation and depletion1 Finance income1 Interest and accretion1 | 161,672 | 97,519 76,094 12,258 16,809 13,459 11,929 (4,353) (2,437) (3,474) 10,431 9,390 10,833 |
| 16,246 | ||
| (3,383) | ||
| 7,408 | ||
| EBITDA Add back: Share-based compensation1 (Income) loss from equity accounting in investee1 (Gain) loss on financial instruments1 Loss on disposal of mining interest and PPE1 Loss on settlement of deferred revenue1 Other (income) expense1 Foreign exchange (gain) loss1 | 181,943 | 120,406 96,506 31,546 20,663 9,497 8,136 (14) — — 3,058 6,385 50,737 — 3,200 — 4,990 — — 6,447 1,961 1,090 12,446 13,520 7,224 |
| 7,602 | ||
| — | ||
| 1,762 | ||
| — | ||
| — | ||
| 9,177 | ||
| 11,590 | ||
| Adjusted EBITDA | 212,074 | 167,996 131,069 98,733 |
1. As presented in the financial statements and notes thereto for the respective periods
| ($000s) | Mar 31, 2025 | Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 |
| Earnings (loss) before tax1 Add back: Depreciation and depletion1 Finance income1 Interest and accretion1 | 21,220 | 37,513 13,603 17,904 9,530 9,019 8,082 (1,606) (1,351) (1,691) 21,165 6,493 6,496 |
| 10,734 | ||
| (2,336) | ||
| 10,037 | ||
| EBITDA Add back: Share-based compensation1 (Income) loss from equity accounting in investee1 (Gain) loss on financial instruments1 Other (income) expense1 Foreign exchange (gain) loss1 | 39,655 | 66,602 27,764 30,791 (483) 2,533 1,373 14 17 2,301 (6,561) 12,842 6,144 1,116 (428) 2,681 (5,113) 311 (7,211) |
| 3,784 | ||
| 14 | ||
| 16,628 | ||
| 535 | ||
| 5,997 | ||
| Adjusted EBITDA | 66,613 | 55,575 43,039 36,079 |
1. As presented in the financial statements and notes thereto for the respective periods.
Adjusted net earnings and adjusted net earnings per share
| ($000s except shares amount) | Mar 31, 2026 | Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 |
| Basic weighted average shares outstanding1 | 205,967,201 | 203,245,172 199,171,052 179,836,208 |
| Net earnings (loss)1 Add back: Share-based compensation1 (Income) loss from equity accounting in investee1 (Gain) loss on financial instruments1 Loss on disposal of mining interest and PPE1 Loss on settlement of deferred revenue1 Other (income) expense1 Foreign exchange (gain) loss1 Income tax effect on adjustments | 97,614 | 50,863 42,011 (16,897) 20,663 9,497 8,136 (14) — — 3,058 6,385 50,737 — 3,200 — 4,990 — — 6,447 1,961 1,090 12,446 13,520 7,224 (4,356) (4,732) (2,528) |
| 7,602 | ||
| — | ||
| 1,762 | ||
| — | ||
| — | ||
| 9,177 | ||
| 11,590 | ||
| (4,057) | ||
| Adjusted net earnings Adjusted net earnings per share – basic ($/share) | 123,689 | 94,097 71,842 47,762 0.46 0.36 0.27 |
| 0.60 |
1. As presented in the financial statements and notes thereto for the respective periods.
| ($000s except shares amount) | Mar 31, 2025 | Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 |
| Basic weighted average shares outstanding1 | 171,622,649 | 170,900,890 169,873,924 151,474,859 |
| Net earnings (loss) 1 Add back: Share-based compensation1 (Income) loss from equity accounting in investee1 (Gain) loss on financial instruments1 Other (income) expense1 Loss on extinguishment of Senior Notes1 Foreign exchange (gain) loss1 Income tax effect on adjustments | 2,368 | 21,687 (2,074) 5,713 (483) 2,533 1,373 14 17 2,301 (6,561) 12,842 6,144 1,116 (428) 2,681 11,463 — — (5,113) 311 (7,211) 2,536 (109) 1,738 |
| 3,784 | ||
| 14 | ||
| 16,628 | ||
| 535 | ||
| — | ||
| 5,997 | ||
| (2,099) | ||
| Adjusted net earnings Adjusted net earnings per share – basic ($/share) | 27,227 | 24,659 13,092 12,739 0.14 0.08 0.08 |
| 0.16 |
1. As presented in the financial statements and notes thereto for the respective periods.
Cash Cost and All-in Sustaining Cost
Cash costs per ounce, and all-in sustaining cost per ounce (as calculated in the tables above) are performance measures that reflect all the expenditures that are required to produce and sell an ounce of gold from operations. Management believes that these two measures are useful to market participants in assessing operating performance and the Company's ability to generate cash flow from current operations. These measures do not have standardized meanings under IFRS and may not be comparable to similar measures used by other issuers.
Operating Cash Flow and Free Cash Flow after Growth and Expansion Capital
Cash flow from operations after sustaining capital and income taxes is calculated as adjusted net cash provided by operating activities, less sustaining capital and income taxes paid. Free cash flow after growth and expansion capital is calculated by further deducting growth and expansion capital. Management believes these measures are useful to market participants in assessing the Company’s ability to generate cash flow from operations after funding its capital requirements. These measures do not have standardized meanings under IFRS and may not be comparable to similar measures used by other issuers.
Growth and Expansion Capital
Growth and expansion capital represents additions to depletable and non-depletable mineral interests, right of use assets, exploration projects, and plant and equipment that are not sustaining in nature. Management believes this measure is useful to market participants in assessing the level of capital invested to expand operations, develop projects and support future growth separately from capital required to sustain current operations. This measure does not have a standardized meaning under IFRS and may not be comparable to similar measures used by other issuers.
EBITDA and Adjusted EBITDA
EBITDA is calculated as earnings before tax, adjusted to add back depreciation and depletion, finance income, and interest and accretion. Adjusted EBITDA is calculated by further excluding items that management does not consider to be reflective of the underlying operating performance. Management believes these measures are useful to market participants in assessing the Company’s operating performance and ability to generate cash flow from operations. These measures do not have standardized meanings under IFRS and may not be comparable to similar measures used by other issuers.
Adjusted Net Earnings and Adjusted Net Earnings Per Share
Adjusted net earnings is calculated as net earnings attributable to owners of the Company, adjusted for items that management does not consider to be reflective of the underlying operating performance of the Company Adjusted net earnings per share is calculated by dividing adjusted net earnings by the basic weighted average number of shares outstanding for the applicable period. Management believes these measures are useful to market participants in assessing the Company’s underlying financial performance and results on a per share basis. These measures do not have standardized meanings under IFRS and may not be comparable to similar measures used by other issuers.
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 2026 objectives, updates and timing for completion and first gold pour at the Bulk Mining Zone, timing for completion and ramp-up of the Marmato CIP plant, the expected benefit from the Segovia expansion, the Company’s longer-term growth outlook, the timeline for environmental studies for the Soto Norte Project, the timeline for a Prefeasibility Study and construction decision for the Toroparu Project, the objective of reaching 1 million ounces of gold production, 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 11, 2026 which is available on SEDAR+ at www.sedarplus.ca and included as part of the Company’s Annual report on Form 40-F, filed 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.