SuperUser Account / Tuesday, November 17, 2020 / Categories: Boletines de prensa Mineros S.A. closes its 3rd Quarter, 2020 main indicators with positive results Mineros S.A. closes its 3rd Quarter, 2020 main indicators with positive results. Note: The variations shown compare Q3 2020 vs. Q3 2019.• Operating profit was USD 39 million, a 37% increase vs. Q3 2019. • EBITDA was USD 52 million, an increase of 39%.• Net profit increased by 25%, for a total of USD 24.8 million. Mineros S.A., for 47 years, has been dedicated to the exploration and exploitation of precious metals, mainly gold. The Company, which has operations in Colombia, Argentina and Nicaragua, reported today its financial and production results for Q3 2020. The Company’s income was USD 121 million, 14% higher than the same quarter of 2019, mainly due to a 28% increase in the price of gold. The consolidated quarterly production from July to October was 64,225 ounces, where Nicaragua contributed with 50% of such amount, Colombia, with 24% and Argentina with 26%.EBITDA was USD 52 million, or 39% higher than the compared quarter, and EBITDA margin increased from 35% in 2019, to 43%, which represents a margin increase of 22%. The operating profit was USD 39 million, a 37% increase vs. 2019. The operating margin increased from 27% to 32% this year. Net profit increased 25% vs. Q3 2019, for a total of USD 24.8 million. The net margin of the Company was of 20.4%. Results by CountryCOLOMBIAOperation indicators in Colombia reflect the alluvial operation recovery after some delays in obtaining the environmental permits in 2019, as well as the sale of the underground operation.Produced ounces increased by 2.7%, with a higher EBITDA of 83% and a decrease in All-in Sustaining Cost of 37%, vs Q2 2020.There was a decrease in production of approximately 5,000 ounces vs. Q2 2020, due to the sale of the underground operation.Cash flow of operations in Colombia was USD 6.2 million, with an EBITDA margin for the year of 46%.Mineros Aluvial and Negocios Agroforestales became Companies of Collective Benefit and Interest, reflecting our commitment to the generation of economic value, along with environmental and social best practices. NICARAGUAProduction in Nicaragua decreased by 2.7% during Q2 2020, while EBITDA increased by 22% and All-in Sustaining Cost increased by 9.3%.EBITDA margin had a 22% growth and approximately an 8% increase in cash flow. The Bypass Road of Bonanza was inaugurated in July, 2020, a civil work that will improve the city’s traffic and shorter transportation time for the arrival of toll mining material.ARGENTINAQuarterly production decreased by 30% vs. Q3 2019, while the EBITDA margin decreased by 9% and All-in Sustaining Cost increased by almost 30%. Production in Argentina was affected by the depletion of a sector of the open pit mine, and the low recovery of gold inventories. Licenses to initiate a new open pit exploitation zone were obtained in September, 2020. It is expected to obtain ounces from this zone in mid-2021. Achievements“We have had a positive year, which at the same time, has represented a big challenge. We have benefited from the higher gold price, Good production levels and strict cost control”, stated Andrés Restrepo Isaza, President of Mineros. “We emphasize the fact that Colombia’s Stock Exchange granted our company the “Issuers Recognition-IR”, which highlights companies that voluntarily adopt international best practices in their relation with investors, in order to promote transparency and increase the Colombian market’s appeal”, complemented Restrepo.On the other hand, Davivienda Corredores, in the presentation of its 2021 Book, specifically mentioned Mineros S.A. as one of the four Top Pick Shares for investment in 2020. Main Challenges and PerspectivesMineros adjusted its gold sales estimate for the year at 270,000 ounces, due to the exit of Operadora Minera and the lower production rate in Argentina. In the Company’s Exploration Plan, one of the main challenges it to extend the life cycle of Gualcamayo Mine in Argentina. Progress is being made in the different technical analyses, which results are expected to be ready by mid-2021. “Regarding our listing in TSX, we are advancing in obtaining the required documentation, after having solved some regulatory differences between the Stock Exchange of Colombia and Toronto. It is important to have in mind that the decision to participate in Toronto’s Stock Exchange Market is a decision to be made by our Assembly, which will be summoned once all the requirements and necessary documentation are ready”, mentioned Andrés Restrepo Isaza, President of Mineros.About Mineros S.A. For 47 años, Mineros S.A., a Colombian company, has worked with the commitment to implement sustainable processes for the better use of minerals, contributing to protect the environment and diversity, the wellbeing of all its stakeholders and to achieve economic and social growth in the regions where it has operations. Today, such best practices convert Mineros S.A. into an important reference of responsible mining activities. Print 4908