Off The Wire
SSR Mining produces 107,000 gold-equivalent ounces in 1Q
(Kitco News) - SSR Mining Inc.’s (NASDAQ, TSX: SSRM) three operations combined to produce over 107,000 gold-equivalent ounces during the January-March time frame, although operations at two were suspended late in the period due to the COVID-19 pandemic, the company said late Monday.
Seabee operations in Canada produced a record 29,521 ounces of gold as mill feed grade exceeded 10 grams of gold per metric ton with recovery of 98.1%, the company said. Output was 33.8% higher than 22,069 ounces in the fourth quarter.
Output at the Marigold mine in the U.S. was 58,448 ounces of gold, compared to 59,186 in the fourth quarter.
Meanwhile, the Puna operations in Argentina turned out 1.77 million ounces of silver produced during the quarter, compared to 2.13 million in the fourth quarter. The company also mined 5.54 million pounds of lead and 1.82 million pounds of zinc at Puna.
Late in the quarter, there was a temporary suspension of operations at both Puna and Seabee as part of the global effort to slow the spread of COVID-19. Marigold has experienced only minor impacts operations remain normal.
“We continue to closely monitor local and national developments in each of the countries in which we operate, with our overarching priorities being the well-being of our people and a continued focus on long-term shareholder value,” said Paul Benson, president and chief executive officer.
In late March, SSR Mining withdrew its 2020 operating guidance due to the uncertainty surrounding COVID-19. The company said it would provide an update when it releases first-quarter financial results, scheduled for May 14.