Core Insights - SSR Mining Inc. is advancing the Hod Maden Project in northeastern Türkiye, with a significant investment of $17.1 million in Q3 2025 focused on engineering and early-stage site development [1][9] - The company acquired a 40% interest and operational control in the Hod Maden project in 2023, which is expected to generate 80,000 gold-equivalent ounces and $66 million in free cash flow annually once operational [2][9] - SSR Mining has spent a total of $44.4 million on the Hod Maden project in 2025 up to the end of Q3, with anticipated capital expenditures between $60 million and $100 million for the year [3][9] Project Development - Progress at Hod Maden includes engineering, initial site setup, and market outreach, which are essential for updating the life-of-mine plan and capital estimates [3][4] - The Hod Maden project is recognized as one of the most attractive undeveloped copper-gold projects in the sector, with strong potential for free cash flow generation once operational [4] Financial Performance - SSR Mining's stock has appreciated by 224.4% over the past year, significantly outperforming the industry average return of 46% [8] - The Zacks Consensus Estimate for 2025 earnings is projected at $1.84 per share, reflecting a year-over-year increase of 557%, while the estimate for 2026 is $3.56 per share, indicating a 93.5% increase [11] - SSR Mining is currently trading at a forward price-to-earnings multiple of 6.38, which is below the industry average of 16.87 [13]