Aris Mining's Q1 2025: Unpacking Contradictions in Toroparu Development and Marmato Mining Rates

Toroparu PEA development options and Marmato underground mining rates are the key contradictions discussed in Aris Mining Corporation's latest 2025Q1 earnings call.



Strong Financial Performance and Gold Production Increase:
- Aris Mining Corporation reported adjusted net earnings of $27 million, or $0.16 per share, the highest quarterly EPS since its formation, with gold revenue totaling $154 million, up 47% over the same quarter last year.
- The growth was driven by solid operational execution and record gold prices, generating strong cash flow to fund key growth initiatives.

Segovia Plant Expansion and Cost Efficiency:
- Segovia's processing plant expansion is on track to increase capacity from 2,000 tonnes per day to 3,000 tonnes per day, with commissioning expected in June 2025.
- The expansion is anticipated to support increased production rates in the second half of the year, with Segovia generating an all-in sustaining cost margin of $61 million, more than doubling the previous year's margin.

Marmato Lower Mine Construction Progress:
- The construction of the Lower Mine at Marmato is gaining momentum, with the design capacity increased to 5,000 tonnes per day.
- The project is expected to produce over 200,000 ounces of gold per year upon completion, with a fully funded capital balance of $208 million.

Technical Studies at Soto Norte and Toroparu:
- Aris Mining is advancing a pre-feasibility study for Soto Norte and a preliminary economic assessment for Toroparu, with both studies expected to be completed in Q3 2025.
- The studies aim to assess updated development options and optimize infrastructure, providing strategic flexibility for unlocking value from these projects.