Ssr Mng Inc - SSRM STOCK NEWS

SSR Mining Inc. (Nasdaq/TSX: SSRM, ASX: SSR) has announced that its Seabee operations will restart in the second half of October. The fire activity near the site has significantly reduced and is being actively managed. Following the evacuation on August 21, 2024, a small team remained on site to assist with fire protection activities.

While the process plant and Santoy mine were not materially impacted, some remote equipment, including power poles, piping, and exploration equipment, was damaged. Employees have been cleared to return to the site to begin repairs. The company will update Seabee's production and cost guidance with its third quarter 2024 financial results.

SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) has temporarily suspended operations at its Seabee mine due to nearby forest fires. The company is evacuating staff from the site as a precautionary measure, following established protocols. As of now, there have been no injuries reported, and no damage to equipment or infrastructure has occurred. SSR Mining has stated that further information will be provided as necessary. This sudden suspension could potentially impact the company's production and financial performance in the short term, depending on the duration of the closure and any potential damage that may occur.

SSR Mining reported Q2 2024 results with 76,102 gold equivalent ounces produced at a cost of sales of $1,357 per ounce and an AISC of $2,116 per ounce. Operations at the Çöpler mine remained suspended due to the February 13, 2024 incident. First half production reached 177,691 gold equivalent ounces with cost of sales at $1,244 per ounce and AISC of $1,789 per ounce.

For Q2 2024, net income was $9.7 million, or $0.05 per diluted share. Cash flow was negative $78.1 million. The company retains a strong balance sheet with $358 million in cash and total liquidity over $850 million. SSR Mining's annual production guidance remains unchanged at 340,000 to 380,000 gold equivalent ounces.

Remediation at Çöpler has cost $55 million this quarter and total costs are estimated at $250-300 million. Investigations are ongoing, with Turkish authorities affirming no contamination. The company expects to process 706,000 ounces of sulfide stockpiles economically while remediation continues.

SSR Mining (NASDAQ/TSX: SSRM, ASX: SSR) will announce its second quarter 2024 consolidated financial results on July 31, 2024, after market close. The company has scheduled a conference call and webcast for the same day at 5:00 pm EDT. The call can be accessed toll-free in the U.S. and Canada by dialing +1 (844) 763-8274 or for international callers by dialing +1 (412) 717-9224. An audio replay will be available for two weeks post-call. SSR Mining invites investors, media, and the public to join the call. More details and the webcast link can be found on the company's investor relations website.

SSR Mining (NASDAQ: SSRM, TSX: SSR) has chosen ISNetworld for managing contractor information at its Seabee Operations, an underground mine in Northern Saskatchewan producing gold doré bars. ISN will aid in enhancing contractor management through review, verification, communication, compliance, scorecard creation, and monitoring. SSR Mining aims to implement industry best practices and prioritize worker health and safety. ISN's platform will assist in managing worker qualifications and mobilization. This partnership is seen as a step towards creating a safer, more sustainable work environment.

SSR Mining provided an update on the February 13, 2024 incident at its Çöpler Mine.

On May 24, 2024, the Company received the Expert Committee Report commissioned by the İliç Chief Public Prosecutor’s Office.

Preliminary review indicates no material non-conformance with the heap leach pad's design or operation relative to third-party engineering parameters.

SSR Mining will continue to evaluate the report and support affected communities.

SSR Mining trades under the ticker SSRM on Nasdaq and TSX, and SSR on ASX.

SSR Mining announced voting results from its 2024 Annual and Special Meeting of Shareholders held on May 23, 2024. All ten nominees for the board of directors were re-elected, including A.E. Michael Anglin, Rod P. Antal, and Brian R. Booth. At the meeting, shareholders also passed resolutions on executive compensation, the 2024 Share Compensation Plan, and the appointment of PricewaterhouseCoopers as the independent auditor. The non-binding advisory vote on executive compensation received 55.81% support. The 2024 Share Compensation Plan was approved with 93.22% votes in favor. PricewaterhouseCoopers was reappointed with 97.89% support.

SSR Mining (Nasdaq/TSX: SSRM; ASX: SSR) has successfully closed the sale of its San Luis project in Central Peru to Highlander Silver Corp. (CSE: HSLV). SSR Mining received $5 million in cash and may receive up to $37.5 million in contingent payments based on project milestones. Additionally, SSR Mining secured a 4.0% net smelter return (NSR) royalty on the project. Highlander Silver can repurchase half of the NSR royalty for $15 million before the commencement of construction.

On May 15, 2024, SSR Mining filed an amendment to its Proxy Statement for the Annual and Special Meeting on May 23, 2024. The amendment targets Proposal No. 3, updating the definition of 'Change of Control' in SSR Mining's 2024 Share Compensation Plan. Specifically, it removes subclause (vi), which allowed a majority of Incumbent Directors to determine a Change of Control. This change follows recommendations from proxy advisors. Other agenda items remain unaffected. The amendment reduces some discretionary power from the Incumbent Directors to clarify the change of control criteria. The updated Plan limits the issuance of shares to insiders to 3.75% of outstanding shares annually and caps the total shares issuable under the Plan at 5 million. Share units can be granted until May 23, 2027, subject to Toronto Stock Exchange's conditional approval. For more details, visit the SSR Mining website or the company's profiles on EDGAR, SEDAR+, and ASX.