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SSR Mining looks to match record 2019 output during 2020

Kitco News

(Kitco News) - SSR Mining Inc. (NASDAQ, TSX: SSRM) posted record gold-equivalent output in 2019 and expects to churn out at least that much metal again in 2020, the company reported Wednesday.

SSR’s three operations combined to produce 421,906 gold-equivalent ounces in 2019, of which 106,208 came in the fourth quarter. SSR said each operation exceeded the top end of production guidance for the year.

The 30-year-old Marigold mine produced a record 220,227 ounces of gold in 2019, with 59,186 coming in the final three months of the year. SSR said higher gold grades and recovery led to Seabee’s fourth consecutive annual production record at 112,137 ounces of gold. Puna produced 7.7 million ounces of silver.

For 2020, SSR listed the midpoint of guidance at approximately 425,000 gold-equivalent ounces, projecting annual production records at Marigold and Seabee. Gold-equivalent cash costs at the mid-point of guidance are expected to be $740 per ounce sold.

“At Marigold, gold grades are anticipated to increase compared to 2019, resulting in higher production and robust margins,” said Paul Benson, president and chief executive officer. “At Seabee, increased mill throughput and strong ore grades are anticipated to drive another record year of gold production.”

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