SSR Mining(US:SSRM)2025-02-18 21:12Financial 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].