Production and Costs - Fourth quarter 2024 production was 124,154 gold equivalent ounces at a consolidated cost of sales of $1,295 per payable ounce and all-in sustaining costs (AISC) of $1,857 per payable ounce[2]. - For the full year 2024, SSR Mining produced 399,267 gold equivalent ounces at a consolidated cost of sales of $1,307 per payable ounce and AISC of $1,878 per payable ounce, including $60.8 million in cash care & maintenance costs at Çöpler[2]. - Marigold operations produced 168,262 ounces of gold in 2024 at a cost of sales of $1,457 per payable ounce and AISC of $1,711 per payable ounce[4]. - Puna operations achieved record silver production of 10.5 million ounces in 2024 at a cost of sales of $16.14 per payable ounce and AISC of $15.56 per payable ounce[4]. - Gold produced in Q4 2024 was 89,178 ounces, down from 178,677 ounces in Q4 2023, representing a 50% decrease[12]. - AISC per gold equivalent ounce sold for Q4 2024 was $1,857, an increase from $1,326 in Q4 2023, representing a rise of 40%[12]. - Cash costs for gold sold in Q4 2024 were reported at $4,419 per ounce, compared to $1,146 in Q4 2023[23]. - The average cost of sales per gold equivalent ounce sold in 2024 was $1,307, compared to $1,141 in 2023, reflecting an increase of approximately 15%[52]. Financial Performance - In the fourth quarter of 2024, net income attributable to SSR Mining shareholders was $5.6 million, or $0.03 per diluted share, while adjusted net income was $21.3 million, or $0.10 per diluted share[2]. - Full-year 2024 net income attributable to SSR Mining shareholders was $(261.3) million, or $(1.29) per diluted share, reflecting approximately $272.9 million in reclamation and remediation costs due to the Çöpler Incident[2]. - Revenue for Q4 2024 was $323,187,000, a decrease of 24.2% from $425,897,000 in Q4 2023[12]. - Adjusted net income attributable to SSR Mining shareholders for Q4 2024 was $21,266,000, compared to $127,077,000 in Q4 2023, a decrease of 83.3%[12]. - SSR Mining reported a net income attributable to shareholders of $5,555,000 for Q4 2024, a significant improvement from a net loss of $217,845,000 in Q4 2023[54]. - Adjusted net income attributable to SSR Mining shareholders for the twelve months ended December 31, 2024, was $57,591,000, compared to $276,494,000 for the same period in 2023[54]. - Free cash flow for Q4 2024 was $56,406,000, down from $144,370,000 in Q4 2023, while the twelve-month free cash flow was $(103,404,000) compared to $198,303,000 in 2023[56]. Cash and Liquidity - As of December 31, 2024, SSR Mining had a cash and cash equivalent balance of $387.9 million and total liquidity of $887.5 million[2]. - As of December 31, 2024, total cash was $387,882,000, down from $492,494,000 as of December 31, 2023, representing a decrease of approximately 21.2%[43]. - Total liquidity as of December 31, 2024, was $887,882,000, down from $992,494,000 in 2023, marking a decrease of about 10.6%[44]. - The company has no outstanding borrowings on its $400 million credit facility, which includes a $100 million accordion feature[44]. Mineral Reserves and Resources - Total Proven and Probable gold equivalent Mineral Reserves as of December 31, 2024 were 8.0 million ounces, up 3% year-over-year[3]. - SSR Mining's total Proven and Probable Mineral Reserves as of December 31, 2024, were 7.57 million ounces of gold, reflecting a 4% increase year-over-year[29]. - The company reported a 9% increase in Measured and Indicated Mineral Resources for gold, totaling 4.4 million ounces as of December 31, 2024[29]. - SSR Mining's total Measured and Indicated (M&I) Resources decreased to 4,398,000 ounces of gold as of December 31, 2024, from 4,034,000 ounces as of December 31, 2023[58]. Reclamation and Remediation - The Company spent $127.6 million on reclamation and remediation efforts at Çöpler in 2024, with forecasted future spend of $250.0 to $300.0 million[4]. - The impact of the Çöpler Incident resulted in a total impairment charge of $91.4 million related to plans to permanently close the heap leach pad[54]. - The company reported a care and maintenance expense of $70,189,000 in 2024, compared to $21,282,000 in 2023, indicating a significant increase[52]. Acquisitions - SSR Mining announced the acquisition of the Cripple Creek & Victor Gold Mine for $100 million in upfront cash and up to $175 million in milestone-based payments[4]. - SSR Mining announced a definitive purchase agreement to acquire the CC&V Gold Mine, with the transaction expected to close in Q1 2025[28]. Operational Metrics - Cash provided by operating activities for Q4 2024 was $94,979,000, compared to $203,159,000 in Q4 2023, a decrease of 53.3%[12]. - Total assets as of December 31, 2024, were $5,189,020,000, a decrease from $5,385,773,000 as of December 31, 2023[12]. - General and administrative expenses in Q4 2024 were $17,558,000, up from $15,080,000 in Q4 2023, an increase of 16.5%[51]. Market Conditions - Average realized gold price per ounce sold increased to $2,603 in Q4 2024 from $1,976 in Q4 2023, a rise of 31.6%[12]. - The average realized gold price for Q4 2024 was $2,230 per ounce sold, significantly higher than $1,989 in Q4 2023[23]. - The average realized silver price for Q4 2024 was $31.53 per ounce sold, compared to $23.23 in Q4 2023[19].

SSR Mining (SSRM) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system ...

SSR Mining Inc. (SSRM) announced that it closed its previously announced acquisition of Cripple Creek & Victor Gold Mine (“CC&V”) from Newmont Corporation (NEM) . The addition of CC&V positions SSR Mining as the third-largest gold producer in the United States.Details on SSR Mining-Newmont DealOn Dec. 6, 2024, the SSRM announced that it had signed a definitive purchase agreement with Newmont.CC&V is located in Colorado and has a large-scale open-pit mine that has been active for more than three decades. As ...

Fourth Quarter & Year-End 2024 Financial Results February 2025 Cautionary Notes Cautionary Note Regarding Forward-Looking Information and Statements Except for statements of historical fact relating to us, certain statements contained in this presentation (including information incorporated by reference herein) constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Section 27A of the Securities A ...

SSR Mining Inc. (NASDAQ:SSRM) Q4 2024 Earnings Conference Call February 18, 2025 5:00 PM ET Company Participants Alex Hunchak - Director, Corporate Development and IR Rod Antal - Executive Chairman Michael Sparks - Chief Financial Officer Bill MacNevin - Executive Vice President, Operations and Sustainability Conference Call Participants Ovais Habib - Scotiabank Cosmos Chiu - CIBC Lawson Winder - Bank of America Securities Operator Hello everyone, and welcome to SSR Mining's Fourth Quarter and Year End 2024 ...

Financial Performance - For the year ended December 31, 2024, the net income attributable to SSR Mining shareholders was $(261.3) million, compared to $(98.0) million in 2023 and $194.1 million in 2022 [646]. - Adjusted EBITDA for the year ended December 31, 2024, was $233.9 million, a decrease from $461.1 million in 2023 and $395.4 million in 2022 [646]. - Free cash flow for the year ended December 31, 2024, was $(103.4) million, compared to $198.3 million in 2023 and $23.4 million in 2022 [649]. Incidents and Charges - The Çöpler Incident resulted in unusual and nonrecurring charges totaling $309.7 million, including reclamation costs of $9.0 million and remediation costs of $209.4 million [643]. - The company incurred impairment charges of $91.4 million related to plans to permanently close the heap leach pad for the year ended December 31, 2024 [643]. Assets and Liabilities - As of December 31, 2024, estimated recoverable metal in stockpiles was 763.0 thousand ounces of gold and 4.7 million ounces of silver, with a carrying value of $319.1 million [652]. - The Company's reclamation liabilities were $209.9 million as of December 31, 2024 [663]. - The Company's remediation liabilities were $135.9 million as of December 31, 2024 [665]. Tax and Valuation - The Company recognizes potential tax liabilities based on estimates of additional taxes due, which may differ from final assessments [661]. - A valuation allowance for deferred tax assets is established when it is more likely than not that some portion of the benefit will not be realized [662]. - The Company engages third-party valuation specialists for material acquisitions to determine the fair value of assets acquired and liabilities assumed [668]. - The Company utilizes income, market, or cost valuation methods to estimate the fair value of assets acquired in business combinations [668]. Environmental and Regulatory Risks - The Company adjusts reclamation liabilities periodically to reflect changes in estimated present value and reclamation cost estimates [664]. - The Company may incur significant changes in remediation liabilities due to changes in environmental laws and regulations [667]. - The Company continuously assesses risks including global pandemics and economic conditions that could adversely affect its operating results [670]. Foreign Exchange - The company reported a foreign exchange net loss due to measures implemented by the Argentine government during the fourth quarter of 2023 [643]. - The company no longer adjusts for fluctuations of foreign exchange gains and losses effective January 1, 2023 [647]. Other Considerations - The transaction costs related to the CC&V transaction for the year ended December 31, 2024, were $1.7 million, expected to close in the first quarter of 2025 [647]. - If estimated gold and silver reserves were 10% lower at December 31, 2024, annual depreciation, depletion, and amortization expense for 2025 would increase by approximately $8.4 million [655]. - As of December 31, 2024, the Company had no Goodwill as it was fully impaired during the year ended December 31, 2023 [657].

Group 1 - SSR Mining (SSRM) has returned approximately 13.1% year-to-date, outperforming the Basic Materials sector, which has lost an average of 7.1% [4] - SSR Mining is ranked 2 (Buy) in the Zacks Rank system, indicating strong analyst sentiment and an improving earnings outlook [3] - The Zacks Consensus Estimate for SSR Mining's full-year earnings has increased by 141.7% over the past 90 days, reflecting positive revisions [3] Group 2 - SSR Mining belongs to the Mining - Miscellaneous industry, which has seen an average loss of 18.9% this year, further highlighting SSRM's strong performance [5] - Eldorado Gold Corporation (EGO), another stock in the Basic Materials sector, has a year-to-date return of 0.9% and also holds a Zacks Rank of 2 (Buy) [4][5] - The Mining - Gold industry, which includes Eldorado Gold, has increased by 18.7% since the beginning of the year, indicating a contrasting performance compared to SSR Mining's industry [6]

Core Insights - SSR Mining Inc. announced that its Marigold Mine achieved gold production of five million ounces as of December 30, 2024, showcasing the mine's quality and capabilities [1] - The company signed a definitive purchase agreement with Newmont Corporation to acquire the Cripple Creek & Victor Gold Mine, which will enhance SSR Mining's portfolio and increase its average annual gold production to 300,000-400,000 ounces, making it the third-largest gold producer in the U.S. [4][5] Group 1: Marigold Mine Performance - Marigold Mine has been operational for over 35 years and was acquired by SSR Mining in 2014, producing a total of 2 million ounces of gold since then, with a peak production of 278,000 ounces in 2023 [2] - As of December 31, 2023, Marigold Mine had nearly 3 million ounces of Mineral Reserves and an expected operational life of nine years [2] - SSR Mining anticipates $10 million in growth expenditure at the Marigold Mine [2] Group 2: Acquisition and Production Outlook - The acquisition of the Cripple Creek & Victor Gold Mine is expected to add 170,000 ounces of gold to SSR Mining's annual production [5] - Newmont Corporation projects 2024 gold production of 170,000 ounces for CC&V at a cost of sales of $1,270 per ounce and an all-in sustaining cost of $1,610 per ounce, indicating strong free cash flow margins [5] Group 3: Stock Performance and Rankings - SSR Mining's stock has declined by 32.3% over the past year, compared to a 19.1% decline in the industry [6] - SSR Mining currently holds a Zacks Rank 2 (Buy), indicating a favorable outlook [8]

SSR Third Quarter 2024 Financial Results November 2024 Cautionary Notes Cautionary Note Regarding Forward-Looking Information and Statements Except for statements of historical fact relating to us, certain statements contained in this presentation (including information incorporated by reference herein) constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Section 27A of the Securities Act of 19 ...

Financial Data and Key Metrics Changes - In Q3 2024, the company produced 97,000 gold equivalent ounces at all sustaining costs of $2,065 per ounce, which includes cash care and maintenance costs [15] - Attributable net income was $0.05 per share, while adjusted net income per share was $0.03, reflecting minor tax and foreign exchange gains [17] - Cash generated by operating activities was negative $1 million, and free cash flow was negative $34 million, with total cash at $334 million and a net cash position of $104 million [18] Business Line Data and Key Metrics Changes - Marigold produced 48,000 ounces in Q3, on track to meet full-year guidance of 155,000 to 175,000 ounces, but costs are expected to increase due to higher royalty and maintenance costs [20][21] - Seabee's production was 10,000 ounces, impacted by a temporary suspension due to forest fires, with revised full-year guidance of 65,000 to 70,000 ounces [22][23] - Puna produced 2.9 million ounces of silver, with an expected full-year production of 10 million to 10.5 million ounces, an increase of over 1 million ounces from previous estimates [25] Market Data and Key Metrics Changes - The company noted that the AISC for Puna was $15.37 per ounce, indicating strong free cash flow margins in the current silver price environment [26] Company Strategy and Development Direction - The company is focused on operational excellence initiatives and brownfields growth projects as it moves into 2025 [28] - The company is advancing Hod Maden and expects to provide an update on anticipated capital spending early next year [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong close to the year across all operations and highlighted ongoing discussions with Turkish authorities regarding the Çöpler remediation and potential restart [27][39] Other Important Information - The remediation and containment work at Çöpler is estimated to cost between $250 million to $300 million and take 24 to 36 months to complete, with $48 million spent in Q3 [12] Q&A Session Summary Question: What approvals are needed for the Çöpler remediation? - Management indicated that discussions with the government are ongoing to ensure all requirements are met for the permanent storage facility, with expectations for approvals early next year [33][34] Question: Will the restart be at 6,000 tons per day? - Management confirmed that the fallback position is to revert to the 2014 EIA, which limits operations to 6,000 tons per day [36] Question: Can the restart occur while remediation is ongoing? - Management clarified that the restart is not dependent on the completion of all remediation efforts, but ongoing work aids in discussions with regulators [38][39]