Aris Mining Increases Segovia Gold Mineral Reserves By +75% To 1.3 Moz, Announces Plant Expansion To Increase Production Rate
Portfolio Pulse from Benzinga Newsdesk
Aris Mining has announced a significant increase in gold mineral reserves at its Segovia Operations, with a 75% increase to 1.3 million ounces. Additionally, the company plans to expand the Maria Dama processing plant's capacity from 2,000 to 3,000 tonnes per day. The expansion, leveraging an existing unutilized ball mill, is estimated to cost $11.0 million and is expected to be completed by early 2025.
November 27, 2023 | 12:39 pm
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POSITIVE IMPACT
Aris Mining's significant reserve increase and plant expansion at Segovia are likely to positively impact ARMN's stock as they indicate potential for increased production and revenues.
The substantial increase in gold reserves and the expansion of the processing plant capacity are strong indicators of future growth in production and potential revenue. This news is directly related to Aris Mining's core operations and is likely to be viewed positively by investors, potentially leading to a short-term increase in ARMN's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100