Ero Copper posts record 2019
Artemis all set thanks to unique approach
SPONSOREDartemis resources
The company processed 2.4 million tonnes of ore grading 1.93% copper after metallurgical recoveries that averaged 90.5% during 2019.
The NX gold mine processed 158,275t grading 6.98 grams per tonne for 30,434oz gold and 19,641oz silver after metallurgical recoveries that averaged 85.7%.
Artemis all set thanks to unique approach
SPONSOREDartemis resources
The company reported net income of $91.9 million on revenues of $284.8 million with cash flow from operations of $127.8 million.
"2019 was a fantastic year for the company and the financial results highlight the extraordinary quality of our assets and people. Execution of our business plan over the past several years has continued to translate to significant year-on-year growth in production and profitability - a trend we see continuing with the support of our exploration programs underway both within and around our existing operations and regionally throughout the Curaçá Valley," said president and CEO David Strang.
Ero ended 2019 with cash, equivalents and available liquidity of $21.5 million, with $14 million undrawn on its secured, revolving credit facility in Canada, plus an additional R$64.8 million in available undrawn lines of credit in Brazil.
Shares in Ero Copper are trading at C$9.61, valuing the company at $824 million.