Summary

• Page properties (1 modified, 0 added, 0 removed)

Details

Page properties

Content

...	...	@@ -8,7 +8,6 @@
8	8	* The company has a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada.
9	9	* SSR Mining has Çöpler mine along the Tethyan belt in Turkey; the Marigold mine along the Battle Mountain-Eureka trend in Nevada, US
10	10
11		-
12	12	[[image:SSRM0.png||height="746" width="720"]]
13	13
14	14
...	...	@@ -153,7 +153,7 @@
153	153
154	154	= Financial Highlights =
155	155
156		-For the year ended December 31, 2021, revenue increased by $621.1 million, or 72.8%, to $1,474.2 million as compared to $853.1 million the year ended December 31, 2020. The increase was mainly due to an increase in gold equivalent ounces sold by 71.4%, partially offset by a 0.6% decrease in average realized gold prices. Changes in sales across the Company's operations were as follows: (i) gold sales at Çöpler increased $402.4 million, (ii) metal sales at Puna increased $123.5 million, (iii) gold sales at Seabee increased $78.6 million and (iv) gold sales at Marigold increased $16.6 million. At Çöpler, gold sales were 195.8% higher in 2021 due to a full year of operations and the results for the year ended December 31, 2020 represent only the results from September 16, 2020 to December 31, 2020, the period for which the Company was entitled to the economic benefits of Çöpler following the Company's acquisition of Alacer. At Seabee and Puna, the increase in revenues in 2021 was due to the impact of the temporary suspensions of operations related to COVID-19 during the year ended December 31, 2020. At Marigold, revenues remained relatively consistent for the year ended December 31, 2021 as compared to the year ended December 31, 2020.
	155	+For the year ended December 31, 2021, revenue increased by $621.1 million, or 72.8%, to $1,474.2 million as compared to $853.1 million the year ended December 31, 2020. The increase was mainly due to an increase in gold equivalent ounces sold by 71.4%, partially offset by a 0.6% decrease in average realized gold prices. Changes in sales across the Company's operations were as follows: ( i ) gold sales at Çöpler increased $402.4 million, (ii) metal sales at Puna increased $123.5 million, (iii) gold sales at Seabee increased $78.6 million and (iv) gold sales at Marigold increased $16.6 million. At Çöpler, gold sales were 195.8% higher in 2021 due to a full year of operations and the results for the year ended December 31, 2020 represent only the results from September 16, 2020 to December 31, 2020, the period for which the Company was entitled to the economic benefits of Çöpler following the Company's acquisition of Alacer. At Seabee and Puna, the increase in revenues in 2021 was due to the impact of the temporary suspensions of operations related to COVID-19 during the year ended December 31, 2020. At Marigold, revenues remained relatively consistent for the year ended December 31, 2021 as compared to the year ended December 31, 2020.
157	157
158	158
159	159	Production costs increased by $226.8 million, or 51.0%, to $671.4 million for the year ended December 31, 2021, as compared to $444.5 million for the year ended December 31. 2020. The increase was primarily due to an additional $143.3 million in production costs at Çöpler during 2021, a 117.8% increase, reflecting a full year of operations during the year ended December 31, 2021 as compared to partial year costs recorded in 2020 from September 16, 2020 through December 31, 2020, following the acquisition of Alacer. The remaining increase is due to higher production costs of $25.8 million at Seabee, $55.1 million at Puna and $2.7 million at Marigold. At Seabee and Puna, production costs increased in 2021 as the sites did not shut down or temporarily suspend operations as the result of COVID-19 as had happened in the year ended December 31, 2020. At Marigold, production costs remained relatively consistent for the year ended December 31, 2021 as compared to the year ended December 31, 2020.
...	...	@@ -173,7 +173,7 @@
173	173
174	174	**First Quarter 2022 Results**
175	175
176		-May 3, 2022; SSR Mining Inc. reports consolidated financial results for the first quarter ended March 31, 2022. In addition, the Board of Directors declared a quarterly cash dividend of $0.07 per common share payable on June 9, 2022 to holders of record at the close of business on May 13, 2022.
	175	+May 3, 2022; SSR Mining Inc. reports consolidated financial results for the first quarter ended March 31, 2022. In addition, the Board of Directors declared a quarterly cash dividend of $0.07 per common share payable on June 9, 2022 to holders of record at the close of business on May 13, 2022.{{footnote}}http://s22.q4cdn.com/546540291/files/doc_downloads/2022/05/SSR-MINING-REPORTS-FIRST-QUARTER-2022-RESULTS.pdf{{/footnote}}
177	177
178	178
179	179	Rod Antal, President and CEO said, "The first quarter of 2022 continued SSR Mining’s proud track record of operational outperformance, as the company delivered gold equivalent production of 173,675 ounces at AISC of $1,093/oz, positioning the Company well against full year guidance. In particular, the company reported record quarterly production of 52,582 ounces at Seabee as the company accessed a continuation of a high-grade zone outside of the Mineral Reserve that was first mined in the second quarter of 2021. Similarly at Çöpler, the ramp up of the flotation circuit is well underway, allowing it to process a record number of tonnes through the sulfide plant in the quarter. Across the remainder of the portfolio, the company continue to expect stronger production in the quarters ahead, in line with its previously announced guidance of 700,000 to 780,000 gold equivalent ounces at AISC of $1,120 to $1,180 per gold equivalent ounce.
...	...	@@ -187,7 +187,6 @@
187	187	* Dividend increased as part of capital returns commitment: During the first quarter, the Board declared a quarterly cash dividend of $0.07 per share, a 40% increase over the prior quarter, which was paid on April 4, 2022. The Normal Course Issuer Bid (“NCIB”), first announced on April 19, 2021, remained active during the quarter.
188	188	* Balance sheet continues to support growth initiatives: At the end of the first quarter, the Company had a cash and cash equivalents balance of $999.0 million, after $17.8 million in scheduled debt repayments and $30.8 million in dividends to joint venture partners. Non-GAAP net cash totals $680.6 million as of March 31, 2022.
189	189	* Three-year guidance showcased stable production profile above 700,000 gold equivalent ounces: In the first quarter, SSR Mining announced its inaugural three-year production guidance highlighting annual production in excess of 700,000 gold equivalent ounces in 2022, 2023 and 2024 without requirements for material capital investment. In addition, updated technical report summaries for all four producing assets established a platform that the company expect will be capable of maintaining 700,000 gold equivalent ounces of production for at least the remainder of the decade.
190		-* [[http:~~/~~/s22.q4cdn.com/546540291/files/doc_downloads/2022/05/SSR-MINING-REPORTS-FIRST-QUARTER-2022-RESULTS.pdf>>url:http://s22.q4cdn.com/546540291/files/doc_downloads/2022/05/SSR-MINING-REPORTS-FIRST-QUARTER-2022-RESULTS.pdf]]
191	191	* Increased gold Mineral Reserves by 14% to 9.2 million ounces: Mineral Reserve conversion at Ardich and Seabee’s Gap Hangingwall drove a 1.1 million ounce, or 14%, increase to total gold Mineral Reserves, net of depletion.
192	192	* Çöpler flotation circuit ramp-up well underway, Çakmaktepe Extension development progressing: Delivered gold production of 70,641 ounces in the first quarter at AISC of $955 per ounce. The sulfide plant treated a record of approximately 645,000 tonnes in the quarter. The Company continues to progress Çakmaktepe Extension towards first gold production in 2023. In the first quarter of 2022, the Company released an updated Çöpler District Master Plan (“CDMP21”) that showcased life of mine production of more than 1.2 million ounces of gold from Çakmaktepe Extension for $69 million in initial capital, and an Initial Assessment Case (“IAC”) for the C2 project that featured more than 1.0 million ounces of gold production for $218 million in initial capital and an IRR of approximately 60%.
193	193	* Marigold on track for full year production guidance: Delivered gold production of 33,788 ounces for the first quarter as the timing and grade of material stacked deferred some ounces into the second quarter. Full-year production remains second-half weighted as higher-grade ore is accessed later in the year.
...	...	@@ -197,7 +197,6 @@
197	197	* Announced the sale of the Pitarrilla project: On January 13, 2022, the Company announced it had entered into a definitive agreement to sell its Pitarrilla silver project in Durango, Mexico to Endeavour Silver Corp. (“EXK”) for total consideration of up to $127 million. This consideration includes $35 million in cash, $35 million in EXK shares, and a 1.25% Net Smelter Return (“NSR”) royalty on the Pitarrilla property. (2) The transaction, which is subject to TSX and NYSE regulatory approvals, the approval of the Mexican Federal Economic Competition Commission and customary closing conditions, is expected to close in the second quarter of 2022.
198	198	* Closed the acquisition of Taiga Gold Corp.: Subsequent to the quarter’s end, on April 14, 2022, SSR Mining completed the previously announced plan of arrangement (the “Arrangement”) to acquire all of the issued and outstanding shares of Taiga Gold Corp. (CSE: TGC) (“Taiga Gold”). The transaction consolidated a 100% interest in the Fisher property contiguous to the Seabee mine, eliminated a 2.5% NSR royalty on the Fisher property, and added five new properties covering over 29,100 hectares to complement the Company’s existing exploration platform in the underexplored and geologically prospective Province of Saskatchewan. SSR Mining’s Saskatchewan assets now cover an area of approximately 131,150 hectares.
199	199
200		-
201	201	= References =
202	202
203	203	{{putFootnotes/}}