SSR Mining Inc (Silver Standard Resources)
SSR Mining Inc (Silver Standard Resources)
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SSR Mining has lifted its expectations after posting FY2022 production from its four operating mines – Ҫӧpler (Türkiye), Marigold (USA), Seabee (Canada) and Puna (Argentina) – of 624,000oz gold equivalent at AISC of $US1,399/oz.
While down on its FY21 result of 794,456oz at $982/oz, it was in line with its revised forecasts of 620,000-655,000oz at $1,315-1,345/oz following the long suspension of Ҫӧpler operations.
Turkey-focused producer SSR Mining has consolidated its holdings around its Ҫӧpler mine with agreement to acquire an additional 30% interest in the Kartaltepe Mining JV for $US150M cash.
The deal with partner Lidya Mining will increase its Kartaltepe stake to 80%, matching its ownership across the entire Ҫӧpler district.
All operations have restarted at SSR Mining's 80%-owned Ҫӧpler gold mine in Turkey after a suspension of nearly five months due to a leak of cyanide from a pipeline supplying the leach pad.
In addition to improvements ordered by Turkish environmental authorities, SSR accelerated sulfide plant maintenance that leaves no maintenance scheduled at Ҫӧpler to end-2022.
Canadian company SSR Mining has confirmed a suspension of operations at its Çöpler gold mine in Turkey following a leak of leach solution containing about 8kg of diluted cyanide from a pipeline supplying the mine’s leach pad.
SSR says the temporary shutdown, ordered during a visit to the mine by Turkish environmental authorities on June 28, will remain while it implements agreed improvements to the heap leach system. It expects to bring the system back to full capacity within weeks.
International silver producer SSR Mining has denied any environmental damage or external discharge from a leak of 8kg cyanide within diluted solution from a pipeline associated with the heap leach pad at its Çöpler gold mine in Turkey.
The minor leak was immediately cleaned up and reported to the relevant authorities.
The company says it is seeking a formal response on local reports indicating mine operations may be suspended.
Lower SSR Mining Q1 22 production from its 4 global operations pushes profit down to $76M, the only positive performer being lead
International miner SSR Mining has completed a year of what president-CEO Rod Antal calls operational outperformance, reporting increases in FY2021 operating cashflow to $609M from $307.1M a year earlier and free cashflow to $444.38M (FY2020: $188.28M).
The results were achieved on revenue of $US1.47M ($0.85M) on gold equivalent sales of 797,602oz (465,471oz) at average realised prices of $1,802/oz ($1,812/oz) gold and $24.98/oz ($21.23/oz) silver. AISC improved to $955/oz AuEq ($1,193/oz).
A strong final quarter has enabled Canadian-based international miner SSR to lift FY2021 production across its four operating assets to 794,456oz gold equivalent, near the top end of its 720,000-800,000oz guidance and above the previous year’s 711,000oz. Unaudited AISC was $US982/oz, beating its previously lowered guidance of $1,000-1,040/oz.
The results support SSR’s expectations of delivering 720,000-800,000oz in FY2022 and maintaining production of over 700,000oz for 2023 and 2024.
Canadian miner Endeavour Silver has signalled plans to accelerate its vision to move from the mid-tier to a premier global position among silver producers with the $70M agreement to acquire one of the world’s largest undeveloped silver projects from SSR Mining.
Mid-tier precious metals miner Endeavour Silver has strengthened its growth pipeline with agreement to acquire the Pitarrilla silver, lead and zinc project in Mexico’s Durango state from SSR Mining.
Endeavour will pay $US70M in cash and shares plus a 1.25% NSR royalty for one of the world’s largest undeveloped silver projects.
CEO Dan Dickson says the acquisition will accelerate Endeavour’s vision to become a premier silver producer.