SSR sees 60% increase in 2020 gold production after Alacer Gold acquisition
(Kitco News) - SSR said that it expects to see at least a 60% increase in its gold production this year as it has successfully completed its acquisition of Alacer Gold Corp.
In a press release Friday, SSR said that it expects to produce, on a consolidated basis, between 680,000 and 760,000 gold equivalent ounces from its four operating mines. Production forecasts are up 425,000 gold equivalent ounces, estimated at the start of the year.
The company also said that consolidated all-in sustaining costs ("AISC") are expected to be between $965 and $1,040 per ounce.
“The completion of the merger between SSR Mining and Alacer has created one of the premier free cash flow generators in the sector with a number of near term, value enhancing catalysts on the horizon. Despite the COVID-19 related challenges, our full year 2020 outlook demonstrates the strength and resilience of the Company's diversified operational base,” said Rod Antal, president and CEO of SSR. “We anticipate a strong finish to the year, particularly in the fourth quarter, as Çöpler and Marigold continue to operate and deliver uninterrupted and Seabee and Puna return to normal operations.”
The company said that most of the production for the second half of the year is expected to come closer to the fourth quarter as both Seabee and Puna ramp up operations in the third quarter following COVID-19 shutdowns.