DENVER, Jan. 19, 2021 /PRNewswire/ – SSR Mining Inc. (“SSR Mining” or the “Firm”) (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) declares full 12 months 2020 manufacturing outcomes and 2021 outlook. In 2020, the Firm’s 4 working belongings produced roughly 711,000 gold-equivalent ounces, delivering robust fourth quarter efficiency of roughly 220,000 gold-equivalent ounces. In 2021, the Firm expects to supply, on a consolidated foundation, 720,000 to 800,000 gold-equivalent ounces at consolidated all-in sustaining prices (“AISC”) of $1,050 to $1,110 per ounce.
Rod Antal, President and CEO stated, “2020 was a transformational 12 months for SSR Mining as we efficiently accomplished and built-in the merger with Alacer Gold, delivered numerous value-enhancing catalysts, and navigated the challenges introduced by the COVID-19 pandemic. Throughout this era of unprecedented change, the Firm delivered on its 2020 manufacturing steering and all 4 working websites exited the 12 months with robust operational momentum and clearly outlined development initiatives.
Looking forward to 2021, we’re centered on persevering with to generate peer main free money move and returning capital to our shareholders, whereas prudently investing-in and optimizing our belongings. This 12 months we might be advancing and executing on our natural development portfolio aimed toward growing manufacturing, decreasing prices, and lengthening mine lives from our near-mine, low capital depth pipeline. Our 2021 outlook builds on our 2020 efficiency and can proceed to reveal {our capability} to maintain 700,000 to 800,000 gold-equivalent ounces of manufacturing for the following 5+ years.”
Full Yr 2021 Outlook
Working Steerage (100%) (1) | Çöpler (2) | Marigold | Seabee | Puna | Different | Consolidated | |
Gold Manufacturing | koz | 310 – 340 | 235 – 265 | 95 – 105 | — | — | 640 – 710 |
Silver Manufacturing | Moz | — | — | — | 6.0 – 7.0 | — | 6.0 – 7.0 |
Gold Equal Manufacturing | koz | 310 – 340 | 235 – 265 | 95 – 105 | 80 – 90 | — | 720 – 800 |
Money Value per Ounce (3) | $/oz | 550 – 600 | 810 – 860 | 525 – 575 | 10.00 – 11.50 | — | 660 – 715 |
Sustaining Capital Expenditures (4) | $M | 52 | 53 | 11 | 19 | — | 135 |
Capitalized Stripping / | $M | 9 | 47 | 19 | 13 | — | 88 |
Sustaining Exploration | $M | 2 | 7 | 1 | 1 | — | 11 |
Basic & Administrative | $M | — | — | — | — | 30 – 35 | 30 – 35 |
Share Based mostly Compensation | $M | — | — | — | — | 15 – 20 | 15 – 20 |
All-In Sustaining Value per | $/oz | 760 – 810 | 1,250 – 1,290 | 860 – 910 | 16.00 – 17.50 | — | 1,050 – 1,110 |
Development Capital Expenditures | $M | 26 | — | 7 | — | — | 33 |
Development Exploration and | $M | 31 | 11 | 7 | — | 5 | 54 |
Whole Development Capital | $M | 57 | 11 | 14 | — | 5 | 87 |
(1) | Figures might not add on account of rounding. |
(2) | Figures are reported on a 100% foundation. Çöpler is 80% owned by SSR Mining. |
(3) | SSR Mining stories the non-GAAP monetary measures of money prices and AISC per payable ounce of gold and silver offered to handle and consider working efficiency at Çöpler, Marigold, Seabee and Puna. See “Cautionary Be aware Relating to Non-GAAP Measures”. AISC consists of web site degree G&A allocations, reclamation and closure price provision accretion expense and IFRS 16 lease funds. |
(4) | Excludes sustaining exploration expenditures. Contains $9.5 million in oxygen plant lease funds at Çöpler. |
(5) | Development exploration and improvement expenditures are proven on a 100%, of which SSR Mining attributable quantity totals $46M. |
2021 Precedence Operational and Improvement Catalysts:
Çöpler:
- Flotation circuit building, with anticipated ramp-up starting mid-year 2021
- Ardich exploration and concurrent improvement in direction of first manufacturing in 2023
- C2 exploration and development, specializing in an expandable improvement plan
Marigold:
- Ongoing price discount and steady enchancment initiatives
- Oxide exploration focusing on increased grades and conversion at Mackay, Valmy, New Millennium, Trenton Canyon and Buffalo Valley
- Sulfide exploration and analysis
Seabee:
- Enhance mining charges to use latent mill capability
- Hole Hanging Wall Mineral Useful resource conversion
- Seabee and Fisher exploration and useful resource improvement
Puna:
- Proceed regular state manufacturing with deal with growing productiveness
- Obtain and maintain mill throughput charges above 4,000 tonnes per day
- Implement and combine owner-operated ore transport fleet
Free money move technology in 2021 is anticipated to be roughly 75% weighted to the second half of the 12 months as a result of timing of the ramp-up and commissioning of the flotation circuit at Çöpler, timing of capital expenditures throughout all websites, working capital seasonality at Seabee, and tax and royalty funds which might be paid within the first half of the 12 months.
Çöpler, Turkey
For 2020, gold manufacturing for Çöpler was 327,000 ounces, in-line with up to date full-year steering. Gold manufacturing was 83,000 ounces within the fourth quarter of 2020.
In 2021, Çöpler is anticipated to supply 310,000 to 340,000 ounces of gold at mine web site AISC of $760 to $810 per ounce. For the full-year, gold manufacturing is weighted to the second half of 2021 as a result of commissioning and ramp-up of the flotation circuit inside the sulfide plant. The flotation circuit is anticipated to extend the gold and sulfide sulfur grades processed by the autoclaves, cut back unit prices, and enhance sulfide plant throughput and gold manufacturing. Commissioning and ramp-up of the flotation circuit is anticipated by mid-year 2021.
Sustaining capital expenditures are deliberate to whole $52 million, which incorporates ongoing building of the tailings storage facility (“TSF”), oxygen plant lease funds and for continued optimization work on the sulfide plant. Of this quantity, $8 million is carried over from 2020 on account of delays associated to COVID-19. Development capital expenditures are deliberate to whole $26 million, which incorporates capital for the flotation circuit and heap leach pad expansions. Capitalized stripping is anticipated to be $9 million for the total 12 months.
Marigold, USA
For 2020, gold manufacturing for Marigold was 234,000 ounces, in-line with up to date full-year steering. Marigold completed the 12 months with robust quarterly gold manufacturing of 77,000 ounces, a brand new quarterly document for the operation.
In 2021, Marigold manufacturing is anticipated to be 235,000 to 265,000 ounces of gold at mine web site AISC of $1,250 to $1,290 per ounce.
Sustaining capital expenditures are deliberate to whole $53 million, which incorporates scheduled mine fleet replacements, building of de-watering water wells, building of a brand new leach pad cell and tools purchases. Capitalized stripping is anticipated to be $47 million for the total 12 months on account of stripping of the M4 part inside the Mackay pit. 2021 represents a high-stripping 12 months for Marigold, offering entry to future ore sources in 2022 and past.
Seabee, Canada
For 2020, gold manufacturing for Seabee was 82,000 ounces, in-line with up to date full-year steering. Gold manufacturing was 32,000 ounces within the fourth quarter of 2020.
In 2021, Seabee is anticipated to supply 95,000 to 105,000 ounces of gold at mine web site AISC of $860 to $910 per ounce.
Sustaining capital expenditures are deliberate to whole $11 million which incorporates mining and floor tools purchases and underground infrastructure. Development capital expenditures, that are predominantly carried over from 2020 on account of COVID-19 associated impacts, are deliberate to whole $7 million, and are for part two of the Triangle Lake TSF growth mission. Capital expenditures are concentrated within the first half of the 12 months through the ice street season. Capitalized improvement is anticipated to be $19 million for the total 12 months to help increased mining charges and set up entry to deeper parts of Santoy 8A and 9A.
Puna Operations, Argentina
For 2020, silver manufacturing from Puna was 5.6 million ounces, exceeding up to date full-year steering. Silver manufacturing was 2.2 million ounces within the fourth quarter of 2020.
In 2021, Puna is anticipated to supply 6.0 to 7.0 million ounces of silver at mine web site AISC of $16.00 to $17.50 per ounce. The operation is anticipated to transition to the owner-operated ore haulage truck fleet within the first half of the 12 months following COVID-19 associated delays in 2020.
Sustaining capital expenditures are deliberate to whole $19 million, which incorporates $8 million carried over from 2020 and is primarily associated to upkeep of mining tools and plant upkeep. Capitalized stripping is anticipated to be $13 million for the total 12 months.
Exploration and Useful resource Improvement
In 2021, whole exploration and useful resource improvement expenditures are anticipated to whole $65 million, of which $54 million represents discretionary development expenditures to advance near-mine brownfield alternatives throughout our portfolio.
At Çöpler, 2021 consolidated exploration expenditures are estimated at $33 million, with a major deal with Ardich Mineral Useful resource growth and conversion, Çöpler Saddle, Mavialtin, C2 copper-gold exploration, and Çöpler District Grasp Plan improvement.
At Marigold, 2021 whole exploration expenditures are estimated at $18 million, specializing in oxide Mineral Useful resource additions and conversion at Mackay, Valmy, New Millennium, and Trenton Canyon. Development exploration expenditures additionally embrace research and check work at Trenton Canyon and Buffalo Valley.
At Seabee, 2021 whole exploration expenditures are estimated at $8 million with a deal with growth and definition of the Santoy Hole Hanging Wall and floor drill applications on the Seabee, Fisher and Amisk properties. The Firm exercised its possibility settlement on the Fisher property in January 2021, and now holds an 80% possession curiosity and operatorship of the Fisher three way partnership.
At Puna, 2021 whole exploration expenditures are anticipated to whole $1 million. Different exploration and improvement expenditures whole $5 million and are associated to Pitarrilla, San Luis, U.S. and Canadian greenfield exploration alternatives.
Assumptions
All figures in U.S. {dollars}, except in any other case famous. Gold equal figures for 2021 working steering are based mostly on a gold-to-silver ratio of 76:1. Gold equal figures for 2020 are based mostly on a gold-silver ratio of 81:1. Money prices and capital expenditures steering relies on an oil worth of $45 per barrel and an alternate fee of 1.30 Canadian {dollars} to one U.S. greenback. All figures are introduced on a 100% foundation.
About SSR Mining
SSR Mining Inc. is a number one, free money move centered gold firm with 4 producing belongings situated within the USA, Turkey, Canada, and Argentina, mixed with a worldwide pipeline of high-quality improvement and exploration belongings within the USA, Turkey, Mexico, Peru, and Canada. In 2020, the 4 working belongings produced 711,000 gold-equivalent ounces.
SSR Mining’s diversified asset portfolio is comprised of excessive margin, long-life belongings alongside a number of of the world’s most prolific treasured metallic districts together with the Çöpler mine alongside the Tethyan belt in Turkey; the Marigold mine alongside the Battle Mountain–Eureka pattern in Nevada, USA; the Seabee mine alongside the Trans-Hudson Hall in Saskatchewan, Canada; and Puna Operations alongside the Bolivian silver belt in Jujuy, Argentina. SSR Mining has an skilled management workforce with a confirmed monitor document of worth creation. Throughout SSR Mining, the workforce has experience in mission building, mining (open pit and underground), and processing (strain oxidation, heap leach, and flotation), with a powerful dedication to well being, security and environmental administration.
SSR Mining intends to leverage its robust steadiness sheet and confirmed monitor document of free money move technology as foundations to organically fund development throughout the portfolio and to facilitate superior returns to shareholders.
SSR Mining is listed underneath the ticker image SSRM on the NASDAQ and the TSX, and SSR on the ASX.
SSR Mining Contacts
F. Edward Farid, Government Vice President, Chief Company Improvement Officer
Brian Martin, Director, Company Improvement & Investor Relations
SSR Mining Inc.
E-Mail: [email protected]
Telephone: +1 (888) 338-0046 or +1 (604) 689-3846
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Cautionary Be aware Relating to Ahead-Trying Info and Statements:
Aside from statements of historic truth referring to us, sure statements contained on this press launch represent forward-looking data, future oriented monetary data, or monetary outlooks (collectively “forward-looking data”) inside the that means of Canadian securities legal guidelines. Ahead-looking data could also be contained on this doc and our different public filings. Ahead-looking data pertains to statements regarding our outlook and anticipated occasions or outcomes and in some instances, will be recognized by terminology equivalent to “might”, “will”, “may”, “ought to”, “anticipate”, “plan”, “anticipate”, “imagine”, “intend”, “estimate”, “tasks”, “predict”, “potential”, “proceed” or different related expressions regarding issues that aren’t historic information.
Ahead-looking data and statements on this press launch are based mostly on sure key expectations and assumptions made by us. Though we imagine that the expectations and assumptions on which such forward-looking data and statements are based mostly are affordable, undue reliance shouldn’t be positioned on the forward-looking data and statements as a result of we may give no assurance that they’ll show to be right. Ahead-looking data and statements are topic to varied dangers and uncertainties which may trigger precise outcomes and expertise to vary materially from the anticipated outcomes or expectations expressed on this press launch. The important thing dangers and uncertainties embrace, however are usually not restricted to: native and international political and financial situations; governmental and regulatory necessities and actions by governmental authorities, together with adjustments in authorities coverage, authorities possession necessities, adjustments in environmental, tax and different legal guidelines or rules and the interpretation thereof; developments with respect to the COVID-19 pandemic, together with the period, severity and scope of the pandemic and potential impacts on mining operations; and different threat elements detailed occasionally in our stories filed with the Canadian securities regulatory authorities.
Ahead-looking data and statements on this press launch embrace statements regarding, amongst different issues: preliminary price reporting on this doc; manufacturing, price, and capital expenditure steering; our close to time period operational and improvement catalysts; the outcomes of any gold reconciliations; the power to find further oxide gold ore; the technology of free money move and cost of dividends; issues referring to proposed exploration; communications with native stakeholders; sustaining group and authorities relations; negotiations of joint ventures; negotiation and completion of transactions; commodity costs; Mineral Sources, Mineral Reserves, conversion of Mineral Sources, realization of Mineral Reserves, and the existence or realization of Mineral Useful resource estimates; the event strategy; the timing and quantity of future manufacturing; the timing of research, bulletins, and evaluation; the timing of building and improvement of proposed mines and course of services; capital and working expenditures; financial situations; availability of ample financing; exploration plans; receipt of regulatory approvals; expectations concerning COVID-19, its ongoing affect on us and any interruptions it could trigger on our operations; and any and all different timing, exploration, improvement, operational, monetary, budgetary, financial, authorized, social, environmental, regulatory, and political issues which will affect or be influenced by future occasions or situations.
Such forward-looking data and statements are based mostly on numerous materials elements and assumptions, together with, however not restricted in any method to, these disclosed in another of our filings, and embrace: the inherent speculative nature of exploration outcomes; the power to discover; communications with native stakeholders; sustaining group and governmental relations; standing of negotiations of joint ventures; climate situations at our operations; commodity costs; the final word dedication of and realization of Mineral Reserves; existence or realization of Mineral Sources; the event strategy; availability and receipt of required approvals, titles, licenses and permits; ample working capital to develop and function the mines and implement improvement plans; entry to sufficient providers and provides; international foreign money alternate charges; rates of interest; entry to capital markets and related price of funds; availability of a professional work pressure; capability to barter, finalize, and execute related agreements; lack of social opposition to our mines or services; lack of authorized challenges with respect to our properties; the timing and quantity of future manufacturing; the power to fulfill manufacturing, price, and capital expenditure targets; timing and skill to supply research and analyses; capital and working expenditures; financial situations; availability of ample financing; the final word capability to mine, course of, and promote mineral merchandise on economically favorable phrases; and any and all different timing, exploration, improvement, operational, monetary, budgetary, financial, authorized, social, geopolitical, regulatory and political elements which will affect future occasions or situations. Whereas we contemplate these elements and assumptions to be affordable based mostly on data at the moment out there to us, they might show to be incorrect.
You shouldn’t place undue reliance on forward-looking data and statements. Ahead-looking data and statements are solely predictions based mostly on our present expectations and our projections about future occasions. Precise outcomes might range from such forward-looking data for quite a lot of causes together with, however not restricted to, dangers and uncertainties disclosed in our filings on our web site at www.ssrmining.com, on SEDAR at www.sedar.com, on EDGAR at www.sec.gov and on the ASX at www.asx.com.au and different unexpected occasions or circumstances. Aside from as required by regulation, we don’t intend, and undertake no obligation to replace any forward-looking data to mirror, amongst different issues, new data or future occasions.
Cautionary Be aware to U.S. Buyers
This information launch consists of Mineral Reserves and Mineral Sources classification phrases that adjust to reporting requirements in Canada and the Mineral Reserves and the Mineral Sources estimates are made in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”). NI 43-101 is a rule developed by the Canadian Securities Directors that establishes requirements for all public disclosure an issuer makes of scientific and technical data regarding mineral tasks. These requirements differ considerably from the necessities of the SEC set out in SEC’s guidelines which might be relevant to home United States reporting firms. Consequently, Mineral Reserves and Mineral Sources data included on this information launch will not be akin to related data that will typically be disclosed by home U.S. reporting firms topic to the reporting and disclosure necessities of the SEC. Accordingly, data regarding mineral deposits set forth herein will not be comparable with data made public by firms that report in accordance with U.S. requirements.
Cautionary Be aware Relating to Non-GAAP Measures
We have now included sure non-GAAP efficiency measures all through this doc. These efficiency measures are employed by us to measure our working and financial efficiency internally and to help in decision-making, in addition to to offer key efficiency data to senior administration. We imagine that, along with standard measures ready in accordance with GAAP, sure buyers and different stakeholders additionally use this data to judge our working and monetary efficiency; nevertheless, these non-GAAP efficiency measures would not have any standardized that means. Accordingly, these efficiency measures are supposed to offer further data and shouldn’t be thought of in isolation or as an alternative choice to measures of efficiency ready in accordance with GAAP. These non-GAAP measures needs to be learn along side our condensed consolidated interim monetary statements.
Money prices and AISC per ounce offered are Non-GAAP Measures with no standardized definition underneath IFRS. For additional data and an in depth reconciliation to IFRS, please see the “Non-GAAP Monetary Measures” part of our Administration’s Dialogue and Evaluation dated as of November 12, 2020 filed on SEDAR at www.sedar.com.
SOURCE SSR Mining Inc.
