SSR Mining Navigates Challenges with Resilient Q3 Results

Ssr Mining ( (SSRM) ) has released its Q3 earnings. Here is a breakdown of the information Ssr Mining presented to its investors.

SSR Mining Inc. is a diversified mining company primarily engaged in the exploration and production of gold, silver, lead, and zinc, with operations across the Americas and Turkey.

SSR Mining’s third-quarter 2024 financial results were released, highlighting the impact of operational challenges, particularly at the Çöpler mine in Turkey, and other events affecting their operations.

The company’s third-quarter production was 97,429 gold equivalent ounces, affected by the suspension of Çöpler operations and a temporary halt at the Seabee mine due to forest fires. Despite these setbacks, SSR Mining reported a net income of $10.6 million for the quarter. The company maintains robust liquidity, with $834 million available and a cash balance of $334.3 million. Ongoing remediation at Çöpler is progressing, with significant costs anticipated.

SSR Mining’s Marigold, Seabee, and Puna operations displayed varied performance, with Marigold producing 48,189 ounces of gold, Seabee recovering from a suspension, and Puna achieving record silver production. Marigold and Puna’s full-year production guidance remains on track, while Seabee’s targets were adjusted due to the recent disruptions.

Looking ahead, SSR Mining remains focused on stabilizing its operations and advancing remediation efforts at Çöpler, while leveraging its strong liquidity position to support these initiatives and potential operational restarts.