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Gran Columbia (GCM.t) : 235,000 oz/yr Gold miner

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Gran Colombia meets 2020 guidance despite 8% production decline

Kitco News |

(Kitco News) - Gran Colombia Gold (TSX: GCM) announced today that it produced a total of 19,958 ounces of gold in December 2020 bringing the total for the fourth quarter of 2020 to 57,265 ounces compared with 65,237 ounces in the fourth quarter of 2019.

PRODUCTION /  v 2021-Jan.
Mo.: Prod'17: Prod'18: Prod'19: Prod'20:
Q1- :  39,008 :  52,672 : 60,601 : 56,247: - 7.19% (Covid?)
Q2- :  46,075 :  52,906 : 57,882 : 48,228: - 16.7% (Covid)
Q3- :   37.1 K :  57,163 : 56,271 : 58,454: + 3.9%:
Q4- :   52.0K :   55,260 : 65,237 > +12 %
Yr. =  174.2k : 218.0k : 240.0k.:

GCM to-GDXJ, recently: 10d: 6.39 / 58.57= 10.9%, at 10.15.2020

WHdT0PT.gif


=== :: 2017 ::  2018 ::  2019 ::  2020 :: +  pct. : Gcm.t: wt.B : "Gap" : Gdxj : Ratio:
Yr.E:  $ 1.96 : $2.82 :  $ 5.57 :  -N/A-  : +97.5%:  $5.57: $3.47: $2.10: 42.26: 13.2%
Jan.  00,000: 16,700 : 17,941 : 18,501: +3.1%
Feb.  00,000: 17,339 : 21,335 : 18.674: -12.5%
Mar.  00,000: 18,633 : 21,325 : 19,072: -10.5%
=Q1: 39,008: 52,672 : 60,601 : 56,247:  - 7.1%: $4.05 : $2.41; $1.64: 28.10: 14.4%
Apr.  00,000: 16,118 :  20,372 : 12,602: -38.1%
May 00,000:  18,675 : 18,528 : 18,129:  - 2.2%
Jun. 00,000:  18,400 : 18,882 : 17,497:  - 7.3%
=Q2: 46.08k: 52.91k : 57,882 : 48,228: -16.7%: $6.88 :$4.84: $2.04: 49.58: 13.9%
July  00,000: 19,296 : 18,166 : 18,111:   - 0.3%: $7.10 :$4.92: $2.18: 60.44: 11.7%
Aug. 00,000: 18,747 : 18,710 : 20,644: +10.3%: $6.00: $3.93: $2.07: 60.19: 9.97%
Sep.  00,000: 19,120 : 19,395 : 19,699: + 1.6%: $6.27: $4.25: $2.02: 55.36: 11.3%
=Q3: 37.10K: 57,163 : 56,271 : 58,454: + 3.9%: $6.27: $4.25: $2.02: 55.36: 11.3%
================================ : Yr.H: $8.10: $5.94: $2.16: 65.95: 12.3%
================================ : Yr.L : $2.88: $1.31: $1.57: 19.52: 14.8%
9m.: 122.2k: 162.75k: 174,754: 162,929  - 7%
Oct.: 17.33K: 18,065 : 20,968 :
Nov.: 17.33K: 18,193 : 21,835 :
Dec.: 17.33K: 19,002: 22,434 :
=Q4: 52.00K: 55,260 : 65,237 : 60,000E > yr: 223K.Est
======================= ;
2018A: "218,001 OUNCES, UP 25% OVER 2017" :
2019A: "239,991 OZ. est. ,  UP 10% OVER 2018" :
2020 : 240,000 ?? / 200,000+ Segovia + 35,000 Marmato

= : TWO MINES PRODUCTION /  v 2020-Aug
Two Mines: Combined /  ——— : Segovia / ——— : Marmato/
Mo.:  Prod'19: Prod’20 / Prod'19: Prod’20 / Prod'19: Prod’20 /
Q1- :  60,601 : 56,247  /   54,386 : 50,346  /  6,215  :  5,901  /
Q2- :  57,882 : 48,228  /   51,625 : 44,377  /  6,257  : 3,851  /
Q3- :  56,271 : 58,454 /   50,050  : 51,556  /  6,221. : 6,898. /
Q4- :  65,237 : 60k.Est /  53k.E.   : 53k.Est /
Yr.=  239,991: 223k.E : - 7.5%E
Mo.: Prod'19: Prod’20 / Prod'19: Prod’20 /Prod'19: Prod’20 /
Jan.  17,941 : 18,501  /  16,220 : 16,865  /  1,721  :   1,636 /
Feb.  21,335 : 18.674  /  19,196 : 16,548  /  2,139. :   2,126  /
Mar.  21,325 : 19,072  /  18,970 : 16,993  /  2,355  :   2,139  /
=Q1: 60,601 : 56,247 /   54,386 : 50,346 /  6,215  :  5,901  /
Apr.  20,372 : 12,602  /   18,371 :  11,400 /   2,101  :  1,202  /
May 18,528 : 18,129   /   16,363 : 16,915  /   2,165  :  1,214  /
Jun. 18,882 : 17,497   /   16,891 : 16,062  /   1,991  :  1,435  /
=Q2: 57,882 : 48,228  /   51,625 : 44,377 /   6,257  :  3,851  /
July  18,166  : 18,111  /   16,100 : 16,459  /   2,066  :  1,652  /
Aug. 18,710 :  20,644  /   16,739 : 17,901  /   1,971   :  2,743  /
Sep. 19,395 : 19,699.  /   17.211 : 17,196  /   2,184.  : 2,503  /
=Q3: 56,271 : 58,454  /   50,050 : 51,556 /   6,221  :  6,898  /
Oct.  20,968 : 19,392  /     18,600 : 16,905  /   2,368  :  2,487  /
Nov.: 21,835 :  17,915  /    19,447 : 15,741 /   2,388  :  2,174  /
Dec.: 22,434 : 19,958  /     20,133 :  17,438 /   2,301 :  2,520  /
=Q4: 65,237: 57,265 /    58,180 :  50,084 /   7,057  :  7,181  /
Mo. Prod'19: Prod’20 /  Prod'19: Prod’20 / Prod'19: Prod’20 /
=====
Yr : 239,991: 220,194 /  214,241: 196,362 / 25,750 : 23,832  /

Guidance : TwoMines /  —— : Segovia -- / — : Marmato -- /
Estimate: Low to High  /     Low to High  /.   Low to High.   /
2020 : 218.0k- 226.0k / 192.0k- 200.0k /  23,000-26,000  /
OLD  : 232.0k- 257.0k /  200.0k- 220.0k /  32,000-37,000  /

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Gran Colombia produces 220,194 oz Au in 2020. Had $90M cash

2021-01-13 07:24 ET - News Release

Mr. Lombardo Paredes reports

GRAN COLOMBIA REPORTS FOURTH QUARTER AND FULL YEAR 2020 GOLD PRODUCTION; MEETS ANNUAL GUIDANCE FOR FIFTH CONSECUTIVE YEAR

Gran Colombia Gold Corp. produced a total of 19,958 ounces of gold in December, 2020, bringing the total for the fourth quarter of 2020 to 57,265 ounces compared with 65,237 ounces in the fourth quarter of 2019. For the full year, the Company produced a total of 220,194 ounces of gold in 2020, which is within its annual guidance range of between 218,000 and 226,000 ounces. Two thousand twenty was the fifth consecutive year that the company has met or exceeded its annual production guidance. The company produced a total of 239,991 ounces of gold in 2019.

Lombardo Paredes, chief executive officer of Gran Colombia, commenting on the company's latest results, said: "Our Segovia operations had another steady quarter, finishing the year within guidance as expected. We have now produced a total of approximately 1.3 million ounces of gold from Segovia in the 10 years since we acquired the mining title and the head grade has averaged 13.8 g/t over that period of time, establishing Segovia as one of the highest-grade underground global gold mines, as further evidenced by the recently announced high-grade intercepts from our ongoing drilling program. In the fourth quarter of 2020, we continued the ongoing development of our mines at Segovia and in December, we commenced production activities at our fourth mine, Carla, which is expected to ramp up further during the first half of 2021. In the fourth quarter of 2020, we used our free cash flow to fund investments in private placements completed by Caldas Gold and ESV Resources in the amount of $17-million and $3-million, respectively, to fund the repurchases of 484,100 common shares for cancellation at a cost of approximately $2.9-million, to pay dividends totalling $1.9-million to our shareholders and to fund the principal and interest payments on our debt of approximately $5.5-million. At the end of December, 2020, Gran Colombia had a cash position of approximately $90-million (U.S.).

"The Marmato operations continued to gain momentum in the fourth quarter of 2020 with the implementation of the optimized mine plan in the existing upper mining operations and commencement of the planned plant expansion to be completed in the third quarter of 2021. Preparatory activities are under way related to the expansion of underground mining operations into the Marmato Deep zone (MDZ) as Caldas Gold awaits the extension of its Marmato mining title, expected to be completed later this month. Caldas Gold is also currently working closely with the management of Aris Gold to prepare for a smooth transition to the new board and management of Caldas Gold once the title extension is completed. At that time, Gran Colombia's interest in the new Aris Gold Corp. will be approximately 44.3 per cent on an undiluted basis."

> more: https://www.stockwatch.com/News/Item?bid=Z-C:GCM-3016226&symbol=GCM&region=C

FREE CASH FLOW = Q4 of 2020. (at C$1.275), 61.3M shs OS
+ $13.3M= C$17.0M: Caldas Gold p.p.
+ $  2.4M= C$  3.0M: ESV Resources p.p.
+ $  2.3M= C$  2.9M: repurchases of 484,100 shs (aver. C$5.99)
+ $. 1.5M= C$  1.9M: to pay dividends
+ $. 5.5M= C$  7.0M: principal and interest payments on our debt
================
 $ 25.0M = C$31.8M / 61.3 M shs = $0.52 x4= C$2.08, or P/cf of 3.0 at C$6.20
At the end of December 2020, Gran Colombia had a cash position of approximately US$90 million. (C$1.87/sh.)

Q4: US$25.0M CF at Aver. Gold price of $1880 x 50.1k oz = $94.2M (26.5%)

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coming....

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia operations. Gran Colombia owns approximately 53.5 per cent of Caldas Gold Corp., a Canadian mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato project in Colombia. Gran Colombia's project pipeline includes its Zancudo project in Colombia, currently in the process of being spun out to ESV Resources Ltd. together with an approximately 18-per-cent equity interest in Gold X Mining Corp. (Guyana -- Toroparu) and an approximately 26-per-cent equity interest in Western Atlas Resources Inc. (Nunavut -- Meadowbank).

INVESTMENT Portfolio:
Sym.: Company Name: 02.11.21: Owns : Shares: Mkt.Value:

ARIS : Aris Gold            : C$  3.10: 53.5% : 53.5 M : C$165.9M: 44.1%
GLDX Gold-X.               : C$  2.89: 18.0% : 9.54 M :  C$ 27.6M:  7.34%
ESV : Denarius Silver   : C$  0.56: 20.0% :   7.5 M :  C$   4.2M:  1.12%
WA. :  West,Atlas Res. : C$  0.08: 26.0% : 30.0 M : C$.   2.4M: 0.64%
=============== ====================== > C$200.1M: 53.2% / 61.8M= $3.23/sh
Compare, Enter.Value
GCM Gran Colombian: C$  6.08: 100.0% : 61.8 M: C$375.7M: 100.%
+ Debt: GCM.NT.U: 8.25% > US$ 32.6M : x 1.275: C$   41.6M:
+ Debt:cv.@C$4.75, fm 2024> ————————      : C$   20.0M:
Minus: Cash at yr.end ’20 > US$ 90.0M x 1.275: ( C$ 114.8M)
  =  Ent.Value =========================== > C$322.5M:
- Minus: portfolio, above ==================  (C$200.1M)
- Enter.Value, adjusted  =================== > C$122.4M:  32.6% / 61.8M= $1.98/sh

Compare, Enter.Value #2
GCM Gran Colombian: C$  6.08: 100.0% : 88.7 M: C$539.2M: 100.%
+ Debt: GCM.NT.U: 8.25% > US$ 32.6M : x 1.275: C$   41.6M:
+ Debt:cv.@C$4.75, fm 2024> ————————      : C$   20.0M:
Minus: Cash at yr.end ’20 > US$ 90.0M x 1.275: ( C$ 114.8M) 21,3% / 88.7M= $1.29/sh
  - Exer Cash from C$2.21 wt $23.4, Cv.$20.0 =  ( C$   43.4M)
  - Exer Cash from Options                                      ( C$   20.0M) Est
  =  Ent.Value =========================== > C$422.6M:
- Minus: portfolio, above ==================  (C$200.1M): 37.1% / 88.7M= $2.26
- Enter.Value, adjusted  =================== > C$222.5M:  41.3% / 88.7M= $2,51/sh

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Gran Colombia sets 2021 Segovia production guidance

2021-02-16 09:11 ET - News Release

Mr. Mike Davies reports

GRAN COLOMBIA PROVIDES ITS 2021 PRODUCTION GUIDANCE FOR SEGOVIA; DECLARES MONTHLY DIVIDEND TO BE PAID ON MARCH 15, 2021

Gran Colombia Gold Corp. expects to produce between 200,000 and 220,000 ounces of gold in 2021 from its high-grade Segovia operations in Antioquia, Colombia. In 2020, the Segovia Operations produced 196,362 ounces of gold.

Lombardo Paredes, Chief Executive Officer of Gran Colombia, commenting on the Company's expected production in 2021, said, "Our Segovia Operations continue to be one of the highest-grade underground global gold mines. In 2021, we are complementing our ongoing mining operations and exploration at our four existing mines with a broader regional drilling program within our mining title targeting the other 24 of 27 known veins which we are not currently mining. While the month of January typically starts off a little slower following the holidays and this year included a two-day planned shutdown of the Maria Dama plant for regular maintenance, we are maintaining our COVID-19 protocols and we are confident our mine plan will deliver more than 200,000 ounces of gold production from Segovia in 2021."

Gran Colombia processed an average of 1,336 tonnes per day ("tpd") in January 2021 at its Segovia Operations with an average head grade of 12.6 g/t resulting in 15,055 ounces of gold production for the month. January's production reflected a scheduled semi-annual two-day plant shutdown for regular maintenance. Over the last 10 years, the Company has produced a total of approximately 1.3 million ounces of gold from its Segovia Operations at an average head grade of 13.8 g/t. In 2021, the Company expects that head grades will continue to average between 13 to 15 g/t over the course of the year.

With the recent closing of the Aris transaction with Caldas Gold, Gran Colombia's equity ownership in the new Aris Gold Corporation (TSX: ARIS; OTCQX: ALLXF) ("Aris Gold") is now approximately 44.3%. As such, starting in 2021, Gran Colombia will equity account for its investment in Aris Gold and will not include the Marmato mine in its production reporting.

Monthly Dividend Declaration

Gran Colombia is pleased to announce today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on March 15, 2021 to shareholders of record as of the close of business on February 26, 2021.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. Gran Colombia owns approximately 44.3% of Aris Gold, a Canadian mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato Project in Colombia. Gran Colombia's project pipeline includes its Zancudo Project in Colombia, currently in the process of being spun out to ESV Resources Ltd. (TSX-V: ESV.H) together with an approximately 18% equity interest in Gold X Mining Corp. (TSXV: GLDX) (Guyana {๪ –} Toroparu) and an approximately 26% equity interest in Western Atlas Resources Inc. ("Western Atlas") (TSX-V: WA) (Nunavut {໯ –} Meadowbank).

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Gran Colombia acquires 33.66M shares of Denarius x 0.45= $15.15M

update: Halted: provisionally: 

0.45 H 0.63

wpYDLlX.png

2021-02-22 07:54 ET - News Release

Mr. Mike Davies reports

GRAN COLOMBIA ANNOUNCES ACQUISITION OF APPROXIMATELY 36% EQUITY INTEREST IN DENARIUS SILVER CORP.

Gran Colombia Gold Corp. has acquired 33,666,666 common shares of Denarius Silver Corp. (formerly ESV Resources Ltd.) in connection with the completion of a reverse takeover transaction, as more particularly described below.

Zancudo transaction

On Feb. 19, 2021, the issuer completed a share purchase transaction with Gran Colombia pursuant to which the issuer acquired certain mining assets located in the municipalities of Titiribi, Angelopolis and Armenia, department of Antioquia, Colombia. The issuer acquired the Zancudo mining assets pursuant to a share purchase agreement dated Nov. 20, 2020, among Gran Colombia, the issuer, Gran Colombia Gold SA and Gran Colombia Gold Titiribi Corp., whereby the issuer purchased from GCG Panama, a wholly owned subsidiary of Gran Colombia, all of the issued and outstanding shares of GCG Titiribi, which holds title to all of the Zancudo mining assets through its Colombian branch, Gran Colombia Titiribi Sucursal Colombia. The Zancudo mining assets were acquired by the issuer for $12.15-million, which was satisfied by the issuance by the issuer to Gran Colombia of an aggregate of 27 million common shares having a deemed price of 45 cents per common share.

Amalgamation transaction

Concurrently with the completion of the Zancudo transaction, on Feb. 19, 2021, the issuer completed a three-cornered amalgamation with 1255269 B.C. Ltd. and 1270702 B.C. Ltd., pursuant to which the issuer acquired certain mining assets indirectly owned by Guia Antigua Co. and located 130 kilometres northeast of Medellin in the Segovia-Remedios mining district, department of Antioquia. The amalgamation transaction was completed pursuant to an amalgamation agreement dated Nov. 20, 2020, whereby the issuer acquired Guia Antigua Co. in exchange for the issuance of an aggregate of 15 million shares of the issuer to the shareholders of Guia Antigua Co.

Prior to the completion of, and in connection with, the amalgamation transaction, Guia Antigua Co. completed a private placement offering on Nov. 9, 2020, to raise aggregate proceeds of $8,403,774 through the sale of 18,675,053 subscription receipts at a price of 45 cents per subscription receipt. Gran Colombia acquired 6,666,666 subscription receipts for total cost of approximately $3-million

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(AS REVISED, 2.23.2021)

INVESTMENT Portfolio: worth more than the Segovia Mine?
Virtually the same, on Fully dilluted basis

Sym.: Company Name: 02.22.21: Owns : Shares: Mkt.Value:

ARIS : Aris Gold           : C$  2.60: 44.3% : 60.9 M : C$158.3M: 40.0%
GLDX Gold-X.                : C$  2.90: 18.0% : 9.54 M :  C$ 27.7M: 7.00%
ESV : Denarius Silver   : C$  0.56: 36.0% : 36.7 M :  C$ 20.6M: 5.20%
WA. :  West,Atlas Res. : C$  .085: 26.0% : 30.0 M : C$.   2.6M: 0.66%
=============== ====================== > C$209.2M: 52.8% / 61.8M= $3.39/sh
vs Enterprize Value
GCM Gran Colombian: C$  6.41: 100.0% : 61.8 M: C$396.1M: 100.%
+ Debt: GCM.NT.U: 8.25% > US$ 32.6M : x 1.275: C$   41.6M:
+ Debt:cv.@C$4.75, fm 2024> ————————      : C$   20.0M:
Minus: Cash at yr.end ’20 > US$ 90.0M x 1.275: ( C$ 114.8M) / 61.8M = $1.86/sh.
  =  Ent.Value =========================== > C$342.9M:
- Minus: portfolio, above ==================   (C$209.2M)
= SEGOVIA Mine Enterprize Value, as adjusted>  C$133.7M:  33.8% / 61.8M= $2.16/sh

Compare, Enter.Value #2, fully dilluted
GCM Gran Colombian: C$  6.41: 100.0% : 88.7 M: C$568.6M: 100.% f.d.Mkt.Cap
+ Debt: GCM.NT.U: 8.25% > US$ 32.6M : x 1.275: C$   41.6M:
+ Debt:cv.@C$4.75, fm 2024> ————————      : C$   20.0M:
Minus: Cash at yr.end ’20 > US$ 90.0M x 1.275: ( C$ 114.8M) 20.2% / 88.7M= $1.29/sh
  - Exer Cash, wtB $23.4, Cv.$20.0, Deb.$41.6 =  ( C$   85.0M)
  - Exer Cash from Options                                      ( C$   10.0M) Est
  =  Ent.Value ===========================> C$420.4M:
- Minus: Investment Portfolio, above ========= (C$209.2M): 36.8% / 88.7M= $2.36
= SEGOVIA Mine Enterprize Value, as adjusted> C$211.2M:  41.3% / 88.7M= $2.38/sh

Aris Gold to trade on TSX Feb. 12

2021-02-10 21:27 ET - New Listing. ( 137.58M x 44.3%= 60.95 M)

The Toronto Stock Exchange reports that Aris Gold Corp. will be listed and posted for trading on the TSX at the open on Feb. 12, 2021. According to the TSX, there will be 137,577,940 common shares and 76,613,200 common share purchase warrants of the company issued and outstanding, and 101,407,094 shares and zero warrants reserved for issuance.

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