The following is a summary of the SSR Mining Inc. (SSRM) Q2 2024 Earnings Call Transcript:

Financial Performance:

• SSR Mining reported second quarter 2024 production of 76,000 gold equivalent ounces at an all-in sustaining cost (AISC) of $2,116 per ounce, inclusive of care, maintenance, and remediation costs from the Copler incident.

• They recorded a net income of $0.05 per share, with adjusted net income per share at $0.04, excluding mark-to-market gains.

• The company has a strong cash position of $358 million, despite facing negative cash generated by operating activities of $78 million and negative free cash flow of $116 million for Q2 due to remediation and care costs.

Business Progress:

• At Copler, substantial progress in remediation is reported, with over 70% of displaced heap leach material moved into temporary storage, expecting to finish cleanup by the end of the third quarter.

• The brownfield exploration programs at Marigold, Seabee, and Puna are successfully advancing, supporting future production and cost targets.

• Engaged in discussions and active preparations for the possible re-start of the Copler mine.

• Continuation of technical studies to extend mine life at Seabee through near-mine drilling at Porky and Porky West.

Opportunities:

• The company manages a significant ore stockpile at Copler, containing over 700,000 ounces of gold, promising substantial yields following potential operational restarts.

• Ongoing expansion activities and site establishments at Hod Maden demonstrate prospectus towards future construction and further project expansions.

• Continuous growth in exploration at Seabee and Puna aims at extending operational life and increasing production capabilities.

Risks:

• Ongoing challenges with the remediation and regulatory compliance at the Copler site could delay expected timelines for operational restarts, affecting planned production outputs.

More details: SSR Mining IR

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