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SSR Mining boosts gold production 93%, ups adjusted net income 326% in first quarter

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(Kitco News) - SSR Mining (NASDAQ: SSRM; TSX: SSRM, ASX:SSR) reported Thursday that its Q1 2021 production was 196,094 gold equivalent ounces (up 83% on Q1 2020) at AISC of $1,004 per gold equivalent ounce, on track to meet full-year guidance ranges.

The company’s gold production was 170,149 oz in Q1 2021, a 93% increase over Q1 2020 (87,968 oz). SSR Mining also produced 1,792,000 oz of silver, 6,164,000 pounds of lead and 3,079,000 pounds of zinc.

Çöpler delivered gold production of 78,478 ounces in the first quarter. Marigold delivered gold production of 67,936 ounces for the first quarter as the mine moved a record 23.8 million tonnes of material. Seabee produced 23,735 ounces of gold, in-line with the full-year mine plan.

Puna produced 1.8 million ounces of silver at cash costs of $9.41 per ounce in the first quarter and AISC of $13.98 per ounce. Puna revenue increased by 92% in the first quarter of 2021 compared to the first quarter of 2020, due to a 49% increase in the average realized silver price.

The company generated cash flows from operating activities of $145.2 million (up 126% compared to Q1 2020) and free cash flow of $76.6 million in the first quarter. Attributable net income was $53.0 million (up 121% over Q1 2020), or $0.24 per share, and adjusted attributable net income of $102.4 million (up 326%), or $0.47 per share.

In addition, the company’s board declared a quarterly cash dividend of US$0.05 per common share, payable on June 14, 2021 to holders of record at the close of business on May 17, 2021.

SSR Mining is a gold mining company with four producing assets located in the USA, Turkey, Canada, and Argentina. In 2020, the company’s four operating assets produced approximately 711,000 gold-equivalent ounces.

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