Investor Presentaiton
Maintained financial strength and flexibility
A strong financial position has been maintained by raising US$100M to fund the acquisition and
near-term development and pre-production costs
Cash (US$M)
Cash and cash equivalents at December 31, 2021
Add: upfront funds from precious metals stream
$138
$15
Precious Metals Stream at Marmato
.
Upsized by US$65M to a total of US$175M:
- US$38M received to date
- US$15M payable at Soto Norte transaction closing
Add: proceeds from convertible debentures
$35
Cash balance after proceeds from financing
Less: upfront cash payment for Soto Norte 1
$188
($52)
Pro forma cash
$136
+ US$122 million of additional proceeds from
precious metals stream financing payable
during Marmato Lower Mine project
construction²
-
US$122M payable in three installments based on
project completion²
Stream payments increase pro-rata to 10.5% of Au
production and 100% of Ag production, dropping to
5.25% and 50% respectively once 310 koz Au and 2.15
Moz Ag are delivered
Convertible Debenture
• US$35M from shareholder GCM Mining
•
Senior unsecured subordinated debentures
•
Debt (US$M)
Gold-linked notes4
Convertible debentures
•
$86
$35
.
Due 18-months from transaction closing
Annualized coupon of 7.5%; interest funded into escrow
at closing
Convertible into Aris Gold shares after 12-months at a
conversion price to be determined in the context of the
market and rules of the TSX
Notes:
1.
Includes payment of transaction fees
2.
3.
Remaining payments upon completion of 25% (US$40M), 50% (US$40M) and 75% (US$42M) Lower Mine project construction
7-year notes, 7.5% cash interest with an amount of physical gold set aside each month to amortize the principal amount of the notes at
US$1,400/oz according to a quarterly repayment schedule. Actual gold prices above US$1,400/oz is paid to note holders as a premium.
ARIS GOLD
13View entire presentation