Ero Copper Reports Third Quarter 2022 Operating and Financial Results

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Overig advies 02/11/2022 06:37
(all amounts in US dollars, unless otherwise noted)
Vancouver, British Columbia – Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or the
“Company”) is pleased to announce its operating and financial results for the three and nine
months ended September 30, 2022. Management will host a conference call tomorrow,
Wednesday, November 2, 2022, at 11:30 a.m. Eastern time to discuss the results. Dial-in
details for the call can be found near the end of this press release.
HIGHLIGHTS
• Quarterly copper production of 11,189 tonnes at C1 cash costs(*) of $1.46 per pound of
copper produced;
• Quarterly gold production of 10,965 ounces at C1 cash costs(*) and All-in Sustaining
Costs ("AISC")(*) of $537 and $1,135, respectively, per ounce of gold produced;
• Adjusted EBITDA(*) of $32.1 million and adjusted net income attributable to owners of
the Company(*) of $4.0 million ($0.04 per share on a diluted basis);
• Strong quarterly cash flows from operations of $43.0 million;
• Financial results during the period were impacted by continued metal price weakness,
including the impact of $10.3 million in final settlements on provisionally priced copper
concentrate sales from the first half of 2022, combined with increased unit operating
costs at the Caraíba Operations;
• Capital expenditures accelerated during the quarter as construction activities related to
the Company's growth initiatives continued to progress;
? At the Tucumã Project, critical path work packages required ahead of the rainy
season have been completed. These include site access and haul road upgrades,
major drainage infrastructure, and advancing pre-stripping activities; and,
? At the Caraíba Operations, the Pilar 3.0 growth initiative continues to progress
with surface infrastructure for the new external shaft well-advanced, critical
equipment orders for the expansion of the mill contracted, and the integration of
Project Honeypot into the life-of-mine production plan completed. The updated
strategic life-of-mine production plan for the Caraíba Operations, inclusive of
Project Honeypot, is expected to be released ahead of the Company's Annual
Operational, Project and Exploration Update on November 8, 2022.

• Available liquidity at quarter-end was $434.8 million, including cash and cash
equivalents of $210.2 million, short-term investments of $149.6 million, and $75.0
million of undrawn availability under the Company's senior revolving credit facility;
• 2022 production, operating cost, and capital expenditure guidance reaffirmed; and,
• The Company will host an Annual Operational, Project and Exploration Update on
November 8, 2022, during which a more detailed overview will be provided on the
Pilar 3.0 growth initiative, including the integration of Project Honeypot, the
Company's advancement of the Tucumã Project, and results from exploration
programs at each of the Company's operations.
*These are non-IFRS measures and do not have a standardized meaning prescribed by IFRS
and might not be comparable to similar financial measures disclosed by other issuers. Please refer to the Company’s discussion of Non-IFRS measures in its Management’s Discussion and Analysis for the three and nine months ended September 30, 2022 and the Reconciliation of Non-IFRS Measures section at the end of this press release.

see & read more on
https://erocopper.com/site/assets/files/6336/2022-11-01-ero-nr.pdf



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