Earnings release
Page 1
ERO COPPER MAY 4 , 2021 TSX : ERO Ero Copper reports record first quarter copper production and financial results ( all amounts in US dollars , unless otherwise noted ) Vancouver , British Columbia – Ero Copper Corp. ( TSX : ERO ) ( “ Ero ” or the “ Company ” ) today is pleased to announce its financial results for the three months ended March 31 , 2021 . Management will host a conference call tomorrow , Wednesday , May 5 , 2021 , 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 • • • • Record quarterly copper production of 12,638 tonnes and record quarterly C1 cash costs of $ 0.49 per pound of copper produced driven by strong operational performance including higher grade versus budget at both Pilar and Vermelhos underground mine ; Strong quarterly gold production of 9,451 ounces from the Santo Antonio Vein at the NX Gold mine at C1 cash costs ( * ) of $ 487 per ounce of gold produced and All - in Sustaining Costs of $ 643 per ounce of gold produced ; Record quarterly adjusted EBITDA ( * ) and cash flow from operations of $ 86.7 million and $ 62.1 million , respectively ; Adjusted net income attributable to owners of the Company ( * ) of $ 56.3 million ( $ 0.61 per share on a diluted basis ) ; Total cash and cash equivalents of $ 84.6 million , a $ 22.1 million quarter - on - quarter improvement , and ; Reiterating full - year production , operating cost and capital expenditure guidance for 2021 . Commenting on the results , David Strang , CEO , stated , “ We have started the year off with considerable momentum , achieving record quarterly copper production and financial performance , a notable accomplishment considering the challenging operating environment our Brazilian colleagues continue to face in mitigating the impacts of COVID - 19 . As a Company , we are proud of the efforts our team is making to provide critical support to our local communities , and this will remain a top priority this year . At the same time , we are successfully advancing all of our growth initiatives , which , upon completion , will serve to contribute to the long - term and sustainable future of our mines and the regions in which we operate . " As evidenced by our most recent exploration release , we are making strides in further showcasing the potential and optionality of the Curaçá Valley . So far in 2021 , our teams have identified one new discovery beneath the Vermelhos Mine and two new mineralized systems in the Curaçá Valley 1 Ero Copper Corp 625 Howe Street | Suite 1050 | Vancouver | BC | V6C 2T6 | Canada