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SSR Mining sees revenue decline

Kitco News

In Q2 revenue at SSR Mining (NASDAQ:SSRM) declined from $155.1 million to $92.4 million compared to the same period a year ago.

Despite higher precious metal prices, the miner was weighed down by closures.

The company said that second quarter revenue decreased by 40% compared to the second quarter of 2019 mainly due to nil gold sales volume at the company's Seabee Gold Operation and limited silver sales volume at Puna Operations as a result of the temporary suspension of their respective operations in response to the COVID-19 pandemic.

The company said its Marigold mine, Seabee Gold Operation and Puna Operations are all operating at expected levels in the context of the COVID-19 pandemic.

The company warns that all sites remain exposed to potential COVID-19 impacts.

The company is deferring guidance until it closes its announced merger with Alacer Gold, which was announced in May.


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