Aris Mining Corporation

Description

Aris Mining Corporation is a Colombia-focused gold producer listed on the TSX (ARIS) and NYSE American (ARMN), with the Toroparu project in Guyana. Its producing assets are the Segovia underground operations and the Marmato mine, where a new 5,000 tpd CIP plant is due to pour first gold in Q4 2026. The company produced 148,000 oz in H1 2026 and guides to 300,000-350,000 oz for the year, with Segovia AISC of US$1,700-1,800/oz.

The Soto Norte project has a September 2025 prefeasibility study showing a US$2.7 billion NPV at US$2,600/oz gold, and Toroparu has an October 2025 PEA showing a US$1.8 billion NPV. A Toroparu prefeasibility study is due in H2 2026, ahead of a construction decision targeted for early 2027. Aris held US$426 million in cash at June 30, 2026.

Weakness

List of projects

1. Segovia Operations (Flagship) — Antioquia, Colombia; underground gold mines and mill; metals: Gold.
2. Marmato Mine — Caldas, Colombia; Lower Mine expansion with a new 5,000 tpd CIP plant; metals: Gold, Silver.
3. Soto Norte Project — Santander, Colombia; September 2025 PFS; metals: Gold.
4. Toroparu Project — Guyana; October 2025 PEA, prefeasibility study due H2 2026; metals: Gold.

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