Q3 2024 SSR Mining Inc Earnings Call Transcript
Key Points
- SSR Mining Inc (SSRM) has made significant progress in the remediation efforts at the Copler site, with all missing colleagues recovered and containment infrastructure proving effective.
- The Turkish government has confirmed no recordable contamination to local soil, water, or air from the Copler incident.
- Puna operations achieved a second consecutive quarter of record throughput, with expected silver production increased to 10-10.5 million ounces for 2024.
- SSR Mining Inc (SSRM) maintains a strong financial position with $334 million in total cash and a net cash position of $104 million.
- Marigold remains on track to meet its full-year production guidance, with ongoing exploration efforts to potentially extend its operating life.
- The Copler remediation and containment work is estimated to cost between $250 million to $300 million and take 24 to 36 months to complete.
- Third quarter production was lower than expected, with 97,000 gold equivalent ounces produced at high all-in sustaining costs of $2,065 per ounce.
- Seabee operations were temporarily suspended due to forest fires, impacting full-year production guidance and increasing costs.
- The Copler mine restart is contingent on obtaining necessary regulatory approvals, which could delay operations.
- Marigold's full-year costs are expected to increase due to higher royalty and maintenance component costs, with these pressures likely to persist into 2025.
Hello, everyone, and welcome to SSR Mining's third-quarter 2024 financial results conference call. This call is being recorded. At this time, for opening remarks and introductions, I would like to turn the conference call over to Alex Hunchak from SSR Mining.
Thank you, operator, and hello, everyone. Thank you for joining today's conference call, during which we'll provide an update on the Copler incident as well as a review of our third quarter financial results. Our consolidated financial statements have been presented in accordance with US GAAP. These financial statements have been filed on EDGAR, SEDAR, the ASX and are also available on our website.
To accompany our call, there is an online webcast, and you will find the information to access the webcast in our news release relating to this call. Please note that all figures discussed during the call are in US dollars unless otherwise indicated. Today's discussion will include forward-looking statements, so please read the
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