SSR Mining Reports
Third Quarter 2018 Results
SSR Mining Inc. (Nasdaq: SSRM) (TSX: SSRM) (“SSR Mining”) has reported consolidated financial results for the third quarter ended September 30, 2018. Paul Benson, President and CEO said, “Our improved financial performance during the quarter marks another positive step forward in SSR Mining’s growth plan. We more than doubled operating cash flow and increased attributable earnings compared to last quarter, having set new operating records at Marigold and Seabee, and achieved key milestones at Chinchillas. This added confidence in the business led to improved 2018 guidance, as we deliver another year of value and growth for our shareholders.”
Third Quarter 2018 Highlights
(All figures are in U.S. dollars unless otherwise noted). Cash costs per payable ounce of gold sold is a non-GAAP financial measure.
- Increased cash flow and earnings: More than doubled cash generated from operating activities from the prior quarter to $35.4 million and increased attributable net income to $0.05 per share.
- Increased production and lowered costs: Consolidated production increased to 94,808 gold equivalent ounces while achieving lower cash costs of $682 per equivalent payable ounce of gold sold.
- Enhanced scale at Marigold: Moved a record 21.3 million tonnes of material, a 33% quarterly increase, benefiting from four additional haul trucks that entered service as scheduled.
- Production growth at Marigold: Produced 58,459 ounces of gold, an 18% quarterly increase, at cash costs of $711 per payable ounce of gold sold.
- Record production and cash costs at the Seabee Gold Operation: Produced a record 27,831 ounces of gold at record low cash costs of $447 per payable ounce of gold sold.
- Chinchillas project remains on track: Achieved key milestones during the quarter, including successful test processing of Chinchillas ore and production of saleable concentrates. The project remains on budget and commercial production is expected by the end of the year.
- Maintained strong liquidity: Quarter-end cash balance of approximately $475 million and total liquidity of approximately $550 million including our undrawn revolving credit facility.
To view the Third Quarter 2018 Results, Click Here
To view SSR’s Corporate Presentation, A Track Record of Creating Value, Click Here.
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