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  • Aris Mining boasts record gold production in August, shares up

    Mon Sep 11 2023

     

    Shares of gold miner Aris Mining (TSX: ARIS) (OTCQX: TPRFF) are trading higher today as the company announced record gold production of 19,406 ounces at its Segovia operations in Colombia during August 2023.

    In a statement, the company said that this is the highest monthly production since the expansion of the Maria Dama processing plant in 2022, representing a 24% increase over the average gold production rate for the initial seven months of 2023.

    During August 2023, the Maria Dama gold plant at the Segovia operations processed 55,328 tonnes with an average gold grade of 11.7 grams per tonne and achieved a gold recovery rate of 95.5%.

    Aris said these results represent a 9% increase in the amount of ore milled and a 17% increase in gold grade compared to the average performance over the prior seven months, and is primarily attributed to the “completion of the crusher repairs, the resolution of issues related to the nationwide limited supply of explosives, and access to higher grade stopes.”

    CEO Neil Woodyer commented, "Aris Mining has successfully implemented a significant business re-organization in Colombia and we are very pleased to demonstrate the benefits of this work.

    “Aris Mining has a strong balance sheet and we believe we are on track to produce approximately 400,000 ounces of gold in Colombia in 2026, based on steady-state production from our Segovia operations and the expanded Marmato mine, currently under construction."

    Aris Mining is a gold producer in the Americas. In Colombia, Aris Mining operates several high-grade underground mines at its Segovia operations and the Marmato mine, which together produced 235,000 ounces of gold in 2022.

    The company also operates the Soto Norte project joint venture, where environmental licensing is advancing to develop a new underground gold, silver and copper mine. In Guyana, Aris Mining is advancing the Toroparu project, a gold/copper project.

     

    Source: https://www.kitco.com

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