SSR Mining Inc. (SSRM): A Bull Case Theory

Core Thesis - SSR Mining Inc. is viewed as a compelling investment opportunity, particularly as an alternative to holding physical gold amid market concerns [2][6] Company Overview - SSR Mining Inc. engages in the acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina [2] - As of November 28th, SSR Mining's share price was $23.28, with trailing and forward P/E ratios of 22.60 and 7.19 respectively [1] Historical Context - The stock experienced a significant decline to around $14 in 2022 following a dam collapse at its Turkish mine, which resulted in fatalities and a suspension of operations [3] - Despite the incident, the company's strong balance sheet and historical operational performance indicated that the selloff had fully priced in the negative news [4] Investment Strategy - The author of the bullish thesis accumulated shares aggressively at $4.50 in August 2024, anticipating a rise in gold prices, which subsequently surpassed $4,000, leading to a 400% gain on the 2024 purchase [4] - Partial profit-taking has occurred due to concerns about gold prices peaking, but the author retains a stake to capture further upside from company-specific catalysts [5] Future Catalysts - A key catalyst for SSR Mining is the potential reopening of the Turkish mine, for which the company has applied for government approval [5] - If operations resume, the stock could benefit from improved production visibility and the monetization of ore inventory, presenting an attractive risk/reward profile [6] - SSR Mining is positioned as a leveraged and catalyst-rich alternative for investors considering bullion, with meaningful upside potential [6]