Aris Mining Corp (ARMN)

[NYBob]

Gran Colombia Gold Reports Fourth Quarter and Full Year 2018 Results; Reaches New Highs for Production, Adjusted EBITDA and Operating Cash Flow; Balance Sheet Strengthened; Increasing Focus on Growth Pipeline
March 27, 2019
TORONTO, March 27, 2019 (GLOBE NEWSWIRE) --

Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today
the release of its audited consolidated financial statements and
accompanying management’s discussion and analysis (MD&A) for the year
ended December 31, 2018.
All financial figures contained herein are expressed in U.S. dollars
(“USD”) unless otherwise noted.

Serafino Iacono, Executive Chairman of Gran Colombia, commenting on the
Company’s results for 2018, said,
“2018 was the watershed year for us, the one where everything we had
being doing to turn things around in the two prior years all came
together.
2018’s gold production surpassed 200,000 ounces for the first time, up
25% from 2017 as our high-grade Segovia Operations delivered another
solid year with grades over 17 g/t.
Adjusted EBITDA increased by 36% over last year, surpassing the
$100 million mark for the first time, and being a key catalyst in
the 58% increase in our operating cash flow to almost
$80 million and the 72% increase in our free cash flow
(1) to $44 million. Our debt refinancing earlier in 2018 did exactly
what we hoped for, lifting the dilution overhang off of our stock and
we strengthened our balance sheet, increasing our cash and
cash equivalents to $35.6 million, and
reducing our debt by 37% to $88.3 million, by the end of 2018.
We made further progress in our strategy to enhance the value of our
assets with additional positive results from our ongoing exploration
programs at Segovia and Marmato.
This brings us to 2019, where we plan to deliver another solid year and
we will gain momentum with our pipeline of projects aimed to take us to
the next level.
With the proceeds from the bought deal private placement we will be
closing next week, we can dramatically accelerate our exploration
programs at Segovia.
We expect to complete the technical studies later this year
at Marmato and then be in a position to determine how we will take
the underground mine expansion forward.
We are working closely with Sandspring’s management team on both their
Toroparu and Chicharron projects and we see potential in the changes
evolving in Venezuela that may open a door for us to get back into
our gold projects there.”

Fourth Quarter and Full Year 2018 Highlights

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2019/Gran-Colombia-Gold-Reports-Fourth-Quarter-and-Full-Year-2018-Results-Reaches-New-Highs-for-Production-Adjusted-EBITDA-and-Operating-Cash-Flow-Balance-Sheet-Strengthened-Increasing-Focus-on-Growth-Pipeline/default.aspx

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