The following is a summary of the SSR Mining Inc. (SSRM) Q3 2024 Earnings Call Transcript:
Financial Performance:
Third quarter production of 97,000 gold equivalent ounces at all sustaining costs of $2,065 per ounce.
Attributable net income stood at $0.05 per share; adjusted net income per share was $0.03.
Negative cash flow from operations totaled $1 million, with free cash flow at a negative $34 million.
Business Progress:
Made substantial progress in the remediation at the Çöpler site with $48 million spent in Q3 and total of $103.3 million spent since April.
Restart of the Çöpler mine is pending regulatory approvals with operations expected to restart within 20 days post-approval.
Pursued brownfield exploration programs and progressing in engineering work at Hod Maden.
Opportunities:
Opportunities for extending operations at Puna through potential extensions at Chinchillas and advancement of the Cortaderas target.
Risks:
Substantial remediation costs and pending regulatory approvals required for the restart of the Çöpler mine pose significant risk factors.
Relying on reinstatement of operating permits which could impact the restart timing and operations scale.
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