Q2 2026 Aris Mining Corp Earnings Call Transcript
Key Points
- Delivered 74,000 ounces of gold production in Q2 2026, with first-half production of 148,000 ounces, on track for full-year guidance of 300,000-350,000 ounces.
- Record first-half revenue, adjusted EBITDA of $179 million in Q2, and strong cash position of $426 million at quarter end.
- Operating cash flow after taxes of $200 million in H1 2026 fully funded capital expenditures of $196 million, maintaining free cash flow positivity.
- Marmato project on schedule for first gold in Q4 2026, with SAG and ball mills installed and mechanical construction underway.
- Segovia's expanded mill performing well, with investments in underground development and haulage capacity expected to drive higher production in H2 2026 and beyond.
- Segovia production ramp-up is back-end loaded, with higher output expected later in Q3 and Q4 2026 due to ongoing underground development constraints.
- Marmato project capital expenditures increased to $238 million from the original $220 million budget, with additional costs for operational readiness and infrastructure improvements.
- Cash balance decreased from $472 million to $426 million in Q2, partly due to annual Colombian tax payments and significant capital investments.
- Toroparu pre-feasibility study remains pending completion in H2 2026, with a construction decision not targeted until early 2027, delaying potential growth.
- Soto Norte environmental studies are still being prepared for submission, with no clear timeline for approval or advancement.
Good day, everyone, and welcome to the Aris Mining second quarter 2026 results conference call. We will begin with an overview from management followed by a question-and-answer period. (Operator Instructions) The conference is being recorded. (Operator Instructions)
Please note that the accompanying presentation that management will refer to during today's call can be found in the Events and Presentations section of Aris Mining's website at aris-mining.com. Second quarter 2026 financial reports for Aris Mining have been filed on SEDAR+ and EDGAR and can also be found on their website.
I would now like to turn the conference over to Mr. Neil Woodyer, Chair and Chief Executive Officer. Please go ahead.
Thank you, operator, and welcome to our Q2 2026 earnings call. Today, joining me are Doug, Oliver, Cam, Dustin, Corne and Alejandro. But before we begin, please note the disclaimer on slide 2.
Moving to slide 3. The headline for the quarter is
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