SSR Mining Inc. - SSRM STOCK NEWS

SSR Mining has released encouraging results from 48 drill holes at the Puna project in Argentina, focusing on resource expansion and discovery from August to December 2022. Significant highlights include:

• 27 meters at 836 g/t Ag and 16 meters at 699 g/t Ag from the Chinchillas property.
• Plans to expand the exploration budget to 15,000 meters in 2023.
• Positive results from Melina and Socavon Del Diablo zones indicating potential for additional mining opportunities.

The update underscores the potential to extend the mine life and enhance mineral reserves at Puna.

SSR Mining Inc. (NASDAQ/TSX: SSRM) reported consolidated financial results for 2022, achieving attributable net income of $194.1 million, or $0.89 per diluted share. The company produced 623,819 gold equivalent ounces at a cost of sales of $985 per ounce. In Q4 2022, production totaled 182,655 ounces with a cash flow of $118 million. SSR Mining declared a quarterly cash dividend of $0.07, reflecting a yield of approximately 5.0%. The company anticipates a production target of 700,000 ounces for 2023, aiming for continued growth with significant investments in Çöpler's Çakmaktepe Extension and Marigold's Red Dot projects.

SSR Mining reported full-year 2022 production of 624,000 gold equivalent ounces with a cost of sales of $985 per ounce. The 2023 production guidance is set at 700,000 to 780,000 ounces, with cost of sales projected between $1,055 and $1,115 and AISC between $1,365 and $1,425 per ounce. The company plans to increase its exploration budget by 50% to enhance resource development, targeting a stable production average of 700,000 ounces annually through 2025. CEO Rod Antal emphasized robust free cash flow generation and increased capital returns to shareholders, anticipating significant production growth and continued operational strength.

SSR Mining Inc. (NASDAQ/TSX: SSRM) announced its fourth quarter and full year 2022 consolidated financial results news release on February 22, 2023, before markets open. A conference call and webcast discussing these results will take place on the same day at 5:00 PM EST. Investors can join the call by dialing +1 (800) 319-4610 for U.S. and Canada or +1 (604) 638-5340 for international callers. The call will also be archived on their website for future access. SSR Mining operates four producing gold assets in the U.S., Türkiye, Canada, and Argentina.

SSR Mining Inc. (NASDAQ/TSX: SSRM) has appointed Ms. Karen Swager to its Board of Directors, bringing 28 years of industry experience. Currently, she serves as Senior Vice President, Supply Chain at Mosaic Company, where she oversees materials movement and safety initiatives. Ms. Swager holds a Bachelor’s and Master’s in metallurgical engineering and an MBA, enhancing the Board with her extensive operational and supply chain expertise. Chairman Michael Anglin expressed optimism about her contributions to the company’s future, particularly in operations and safety management.

SSR Mining Inc. (NASDAQ/TSX: SSRM) announced promising drilling results from 377 diamond drill holes at its Seabee property in Saskatchewan, focusing on the Santoy Mine Complex. These results from September 2021 to November 2022 exhibit high-grade gold intercepts, including 29 g/t Au over 2.1 meters. The exploration indicates potential for future open-pit development at the Porky targets. The company aims to extend mineral reserves while exploring new opportunities, with the 2021 Technical Report highlighting an annual production capacity of approximately 96,000 ounces of gold.

SSR Mining has released promising exploration results from the Marigold mine in Nevada, showcasing significant gold intercepts including 4.2 g/t Au over 26 meters and 2.7 g/t Au over 17 meters at the New Millennium target. These results follow drilling of 316 holes completed between October 2021 and August 2022. The exploration aims to extend the mine's life and enhance the current production profile. An updated Technical Report Summary is anticipated in 2023, with the potential for growth in Mineral Reserves and Resources at Marigold.

SSR Mining (NASDAQ: SSRM) reported a third-quarter net loss of $25.8 million, or $0.12 per share, with a notable adjusted EPS loss of $0.07. Production reached 106,919 gold equivalent ounces, though year-to-date production totaled 441,164 ounces at costs of $955 per ounce and AISC of $1,331. Despite challenges, the company announced that it has restarted its Çöpler operations and targets full-year production of 620,000 - 655,000 ounces. SSR Mining closed the Pitarrilla project sale and plans to consolidate its operations with a new 30% joint venture interest acquisition.