Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Production / Operations Routine +

Aris Mining Announces Breakthrough Milestone at Marmato Underground Development

Aris Mining Confirms Marmato Underground Milestone Amidst Record Cash Position

By The Northwire Desk — AI Analysis Apr 17, 2026 · 11:50 ARIS · 27.81 Aris Mining Corporation
Executive Summary
  • Milestone Achievement: Aris Mining announced the successful connection of a new underground development cross-cut to existing workings at the Marmato gold mine in Colombia.
  • Access Established: This breakthrough establishes continuous underground access from surface to existing workings, critical for the Marmato expansion project.
  • Construction Progress: A new 5,000 tonne per day CIP plant is currently under construction at the surface.
  • Production Timeline: First gold production from the Marmato bulk mine remains on schedule for Q4 2026.
  • Production Targets: Combined production target for Marmato and Segovia is approximately 500,000 ounces of gold per year following expansion. Long-term objective is ~1 million ounces annually.
  • Other Projects: Soto Norte environmental studies to be finalized in Q2 2026; Toroparu PFS progressing with construction decision expected early 2027.
Material Impact
  • Validation of Guidance: The news confirms the timeline previously set in the March 11, 2026 FY 2025 results release (Q4 2026 first gold). It does not introduce new surprises regarding production dates or capacity.
  • Execution Risk Mitigation: Underground development is a high-risk area for delays. Confirming "on-schedule" connection reduces execution risk slightly but does not eliminate it entirely given the complexity of bulk mining zones.
  • Market Expectations: The market has already priced in significant growth based on Q1 2026 results (April 7) and FY 2025 guidance. This news reinforces existing expectations rather than exceeding them materially.
  • Gold Price Sensitivity: Q1 2026 gold sales were at an average realized price above $4,860/oz. While this boosts current margins, it is significantly higher than historical averages ($3,000 range). If prices revert to mean, the valuation multiple supported by these record margins may compress.
  • Capital Allocation: The company has >$470M cash but faces substantial future capex for Toroparu (~$820M PEA) and Soto Norte (~$625M PFS). While current debt is low ($86M), funding both major projects without dilution or new debt remains a potential constraint.
ARIS · Price
Company Overview
  • Flagship Projects: Segovia (Colombia) - High-grade underground mine with expanded mill capacity (3,000 tpd); Marmato (Colombia) - Bulk mining zone expansion with new 5,000 tpd CIP plant.
  • Development Pipeline: Soto Norte (100% owned, Colombia) and Toroparu (Guyana).
  • Operational Status: Segovia mill expansion completed June 2025; Marmato underground development on track for Q4 2026 gold pour.
  • Production Profile: Q1 2026 production of 74.3 koz; FY 2025 production of 256,503 oz (up 22% YoY).
Read the original news release →

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