Mineros Achieves Production Guidance for 2024
Mineros S.A. (TSX:MSA) is excited to share its successful completion of the production guidance for the year 2024, achieving an impressive total of 213,245 ounces of gold. This accomplishment reflects the diligent efforts at their Nechi Alluvial Property and the Hemco Property, which have both shown solid performance.
Key Operational Highlights of 2024
The production guidance had been adjusted earlier in the year to provide stakeholders with clearer insights into the company's operational capabilities. For 2024, the total gold produced fell within the revised guidance range of 203,000 to 218,000 ounces, demonstrating a robust operational capacity despite earlier production challenges. In the fourth quarter alone, Mineros produced 54,189 ounces of gold, showcasing a strong finish to the year.
Upcoming Financial Reports
Mineros plans to release its fourth quarter and year-end financial and operating results in the near future, providing further insights into its operational performance. A conference call will be held for stakeholders to discuss these results and future plans, reflecting the company’s commitment to transparency.
Production and Cost Guidance for 2025
For the upcoming year, Mineros projects a consolidated production of between 201,000 and 223,000 ounces of gold, encompassing contributions from both the Hemco Property and the Nechi Alluvial Property. In terms of costs, the expected Cash Cost per ounce of gold sold is between $1,340 and $1,430, while the All-In Sustaining Cost (AISC) is projected to fall within the range of $1,650 to $1,750.
Strategic Insight from Leadership
Andrés Restrepo, President and CEO of Mineros, expressed confidence in the company’s operational excellence and its commitment to creating value for shareholders. He emphasized the importance of maintaining reliable production levels amidst potential challenges in the mining sector.
Insights into the Nechi Alluvial Property
The Nechi Alluvial Property produced 82,017 ounces of gold in 2024. Although this figure represents a slight decline from the previous year's production, it aligns well within the adjusted guidance. The operational teams encountered challenges related to dredging capabilities and scheduling, which impacted overall production levels.
Nicaragua's Operational Strength
In Nicaragua, total production reached an impressive 131,228 ounces of gold, exceeding the upper end of the company's guidance for 2024. This accomplishment reflects the operational improvements implemented in response to earlier challenges, driving increased efficiency across the board.
Focus on Continuous Improvement for 2025
Looking ahead to 2025, Mineros intends to leverage its successful strategies and further enhance production outcomes. With a commitment to maintaining high operational standards, the company anticipates a strong year ahead, capitalizing on its established relationships with artisanal miners and improving mining practices.
Expectations for Cost Metrics
Both the Cash Cost and AISC metrics are projected to decrease compared to 2024, principally due to changes in how these costs are calculated. The removal of certain royalties is expected to simplify the metrics and provide a clearer picture of operational efficiencies for stakeholders moving forward.
About Mineros S.A.
Mineros is a prominent Latin American gold mining company based in Medellin, Colombia, boasting a diverse portfolio of assets across Colombia and Nicaragua. With a seasoned management team dedicated to sustainability and maximizing shareholder value, Mineros has a long-standing history of delivering solid annual dividends. Its shares are traded on the Toronto Stock Exchange under the ticker symbol "MSA" and on the Colombia Stock Exchange as "MINEROS".
Frequently Asked Questions
What production goal has Mineros set for 2025?
Mineros aims to produce between 201,000 and 223,000 ounces of gold in 2025.
How did Mineros perform in gold production for 2024?
The company achieved a total of 213,245 ounces of gold in 2024, meeting its revised guidance.
What are the expected cost metrics for 2025?
Cash Cost is projected between $1,340 and $1,430 per ounce, while AISC is expected to range from $1,650 to $1,750 per ounce.
When will Mineros announce its fourth quarter results?
Mineros will release its fourth quarter 2024 financial results on February 17, 2025.
What is the strategic focus of Mineros moving forward?
Mineros aims to enhance operational excellence and strengthen partnerships with artisanal miners, ensuring reliable production levels.
