SSR Mining Delivers Strong Fourth Quarter Production and Achieves 2023 Consolidated Production Guidance
- SSR Mining has met its 2023 production guidance, showcasing consistent operational performance over the years.
- Full-year production for 2023 is at approximately 706,900 gold equivalent ounces, indicating a strong performance for the company.
- The company's long-term production guidance will be announced on February 13, 2024, providing investors with valuable insights into the future outlook of SSR Mining.
- None.
Insights
The reported production figures from SSR Mining Inc. reflect a significant operational achievement, with the fourth quarter representing the third-highest quarterly production total in the company's history. The full-year production aligning with guidance expectations suggests a strong operational performance and reliability in meeting projected targets. This consistency is a critical factor for investor confidence, particularly in the volatile commodities market where gold pricing can significantly impact revenue and profitability.
For stakeholders, the ability to meet production guidance over 11 of the past 12 years demonstrates management's adeptness in operational planning and execution, which could be an indicator of the company's resilience to operational challenges and market fluctuations. This track record can be a compelling factor for long-term investment considerations, as it reflects the company's operational stability and potential for sustained growth.
Analyzing the financial implications of SSR Mining's production report, the increase in year-over-year production and the meeting of guidance targets can be expected to have positive implications for the company's financial health. The increase in gold production from the Çöpler and Marigold mines indicates a successful scaling of operations, which could lead to improved economies of scale and potentially lower production costs per ounce.
Investors will be closely monitoring the upcoming full-year financial results to evaluate the impact of production volumes on revenue and margins. The consistency in meeting production targets could also suggest effective cost control measures are in place, which is particularly important in an industry where cost management directly impacts profitability.
The concept of gold equivalent ounces (GEOs) is essential for understanding the company's output in terms of a single commodity, despite the actual production of different metals. This standardization allows for easier comparison across the industry and simplifies the assessment of a mining company's performance, especially when involving polymetallic production.
The announcement of long-term production guidance and updated Mineral Reserves and Mineral Resources will provide critical insights into the company's future prospects. These updates are essential for evaluating the sustainability of SSR Mining's production levels and the potential for future growth, which can significantly influence investment decisions within the mining sector.
- FOURTH QUARTER PRODUCTION OF APPROXIMATELY 211,100 GOLD EQUIVALENT OUNCES, THIRD HIGHEST QUARTERLY PRODUCTION TOTAL IN COMPANY HISTORY
- FULL-YEAR PRODUCTION OF APPROXIMATELY 706,900 GOLD EQUIVALENT OUNCES MEETS GUIDANCE EXPECTATIONS
- RECORD FULL-YEAR PRODUCTION IN 2023 FROM MARIGOLD AND PUNA
- LONG-TERM PRODUCTION GUIDANCE TO BE ANNOUNCED FEBRUARY 13, 2024
- FULL-YEAR 2023 FINANCIAL RESULTS TO BE ANNOUNCED FEBRUARY 21, 2024
Gold Equivalent Production by Quarter in 2023
|
|
Three Months Ended |
|
Twelve Months Ended |
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|
|
December 31, |
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December 31, |
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Preliminary Operating Data |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Çöpler (1) |
|
|
|
|
|
|
|
|
Gold produced (oz) |
|
57,126 |
|
65,603 |
|
220,999 |
|
191,366 |
Gold sold (oz) |
|
59,694 |
|
59,949 |
|
225,599 |
|
192,811 |
Marigold |
|
|
|
|
|
|
|
|
Gold produced (oz) |
|
82,794 |
|
62,875 |
|
278,488 |
|
194,668 |
Gold sold (oz) |
|
81,173 |
|
62,936 |
|
275,962 |
|
195,617 |
Seabee |
|
|
|
|
|
|
|
|
Gold produced (oz) |
|
38,758 |
|
24,709 |
|
90,777 |
|
136,125 |
Gold sold (oz) |
|
32,050 |
|
23,500 |
|
83,610 |
|
133,500 |
Puna |
|
|
|
|
|
|
|
|
Silver produced ('000 oz) |
|
2,759 |
|
2,389 |
|
9,688 |
|
8,397 |
Silver sold ('000 oz) |
|
2,830 |
|
2,098 |
|
9,920 |
|
7,864 |
Consolidated (2) |
|
|
|
|
|
|
|
|
GEOs produced (oz) |
|
211,118 |
|
182,655 |
|
706,896 |
|
623,819 |
GEOs sold (oz) |
|
206,194 |
|
172,308 |
|
704,594 |
|
617,135 |
|
|
|
|
|
|
|
|
|
(1) Figures are reported on a |
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(2) Gold equivalent ounces (GEOs) are calculated by multiplying the silver ounces by the ratio of the silver price to the gold price, using the average London Bullion Market Association (“LBMA”) prices for the period. The Company does not include by-products in the gold equivalent ounce calculations. |
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In addition, SSR Mining announces February 13, 2024 as the release date for its 2024 and long-term production guidance, accompanied by updated life of mine plans and Mineral Reserves and Mineral Resources for the Company’s key operating properties. Following this announcement, SSR Mining’s senior leadership team will host a conference call to provide an overview of current operations as well as the Company’s outlook and long-term growth strategy. Investors, media and the public are invited to listen to the conference call and accompanying webcast.
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News release containing long-term production guidance and updated Mineral Reserves and Mineral Resources: Tuesday, February 13, 2024, before markets open.
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Conference call and webcast: Tuesday, February 13, 2024, at 9:00 am EST.
Toll-free inU.S. andCanada : +1 (800) 319-4610
All other callers: +1 (604) 638-5340
Webcast: http://ir.ssrmining.com/investors/events
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The conference call will be archived and available on our website. Audio replay will be available for two weeks by calling:
Toll-free inU.S. andCanada : +1 (855) 669-9658, replay code 0631
All other callers: +1 (412) 317-0088, replay code 0631
The Company also announces the date for its fourth quarter and full-year 2023 consolidated financial results news release and conference call. Investors, media and the public are invited to listen to the conference call and accompanying webcast.
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News release containing fourth quarter 2023 and full-year consolidated financial results: Wednesday, February 21, 2024, after markets close.
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Conference call and webcast: Wednesday, February 21, 2024, at 5:00 pm EST.
Toll-free inU.S. andCanada : +1 (800) 319-4610
All other callers: +1 (604) 638-5340
Webcast: http://ir.ssrmining.com/investors/events
-
The conference call will be archived and available on our website. Audio replay will be available for two weeks by calling:
Toll-free inU.S. andCanada : +1 (855) 669-9658, replay code 0570
All other callers: +1 (412) 317-0088, replay code 0570
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused gold company with four producing operations located in the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240115069067/en/
SSR Mining Contacts:
F. Edward Farid, Executive Vice President, Chief Corporate Development Officer
Alex Hunchak, Vice President, Investor Relations
SSR Mining Inc.
E-Mail: invest@ssrmining.com
Phone: +1 (888) 338-0046
To receive SSR Mining’s news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.
Source: SSR Mining Inc.
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