* This press release was translated by an automatic system.
VANCOUVER, February 20, 2020 / CNW / – SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (“SSR Mining”) reports consolidated financial results for the fourth quarter and the year ended December 31, 2019.
Paul Benson, President and CEO, said: “SSR Mining had another successful year in 2019, as we continue our track record of achieving production and cost guidance for the eighth consecutive year. We provide reserve growth in Marigold and resource growth in Seabee , which continue to support mine life extensions in both assets.
Looking to the future, 2020 consolidated production is forecast to grow to approximately 425,000 equivalent ounces of gold. With more than $ 500 million in cash and a prospect of increased production and higher margins at the current prices of precious metals, we are well positioned to continue our history of creating value for our shareholders. “
Highlights of the fourth quarter and the end of the year 2019:
(All figures are in US dollars unless otherwise indicated)
- Annual production and cost guide: He achieved guidance for the eighth consecutive year by delivering an equivalent gold production of 421,828 ounces at a cash cost of $ 740 per equivalent ounce of payable gold sold. (one)
- We continue our history of growth of mineral reserves and resources: Successful exploration activities in 2019 increased gold mineral reserves at the Marigold mine to 3.9 million ounces. In Operation Seabee Gold, measured and indicated gold mineral resources (including mineral reserves) increased to 1.1 million ounces and gold inferred mineral resources increased to 583,000 ounces.
- Fourth consecutive year of positive earnings per share: Basic annual attributable income per share in 2019 was $ 0.47, an increase of 840% since 2018. The adjusted basic annual attributable income per share in 2019 was $ 0.81, an increase of 252% since 2018. (one)
- He achieved a production Gold record annual at Seabee: The operation achieved its sixth consecutive annual production record, producing 112,137 ounces of gold, exceeding the upper limit of our annual guide. Annual cash costs were $ 464 per payable ounce of gold sold. (one)
- Strong operational performance in Marigold: delivered a gold production of 59,186 ounces for the fourth quarter of 2019, which resulted in an annual production of 220,227 ounces of gold, setting an annual production record and exceeding the top end of our annual guide. Annual reported cash costs of $ 811 per payable ounce of gold sold. (one)
- Successful increase of the Puna: It produced 7.7 million ounces of silver in 2019 at an annual cash cost of $ 10.38 per payable ounce of silver sold. (one) Solid fourth-quarter results with a production of 2.1 million ounces of silver and cash costs of $ 8.90 per payable ounce of silver sold (one) , which demonstrates operational improvements made during the year.
- Acquisition of 8,900 hectares adjacent to the Marigold mine: Prospective package of trending land with several zones of gold mineralization.
- 100% consolidated property in Puna operations: se it completed the acquisition of the remaining 25% of Puna’s operations, which led to an immediate increase in silver production and greater operational flexibility.
- He maintained a solid liquidity and balance: the Cash balance increased to $ 504 million and the value of marketable securities increased to $ 66 million.
- $ 230 million convertible promissory note offer completed: issued an aggregate capital amount of $ 230 million of unsecured senior convertible bonds of 2.50% on March 19, 2019. A portion of the revenue was used to repurchase $ 150 million of our convertible notes from $ 265 million to 2,875 % slopes.
- Inaugural sustainability report published: the The report describes our approach to sustainability and underlines our commitment to transparency with our stakeholders.
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