(Kitco News) - SSR Mining (NASDAQ:SSRM/TSX: SSRM) announced yesterday that in 2022, the company''s four operating assets produced 623,819 gold equivalent ounces, down 21% compared to 2021 (794,456 ounces) and within its revised guidance.
The company said that full year 2022 cost of sales of $985 per gold equivalent ounce and all-in sustaining costs of $1,339 per gold equivalent ounce were also in line with guidance.
SSR Mining added it expects to deliver a "strong and stable production base" in 2023 with total production of 700,000 to 780,000 gold equivalent ounces at consolidated cost of sales of $1,055 to $1,115 per gold equivalent ounce and all-in sustaining costs of $1,365 to $1,425 per gold equivalent ounce.
In the updated three-year outlook, SSR Mining expects to maintain an average production base of approximately 700,000 gold equivalent ounces per year through 2025.
The company also said it will increase its 2023 exploration and resource development budget by approximately 50% over 2022, adding that the increased budget is expected to target the acceleration of mineral resource conversion and mine life extension activities across the portfolio, "helping position SSR Mining to deliver a long-term production profile above 700,000 gold equivalent ounces without significant capital investment requirements through the end of the decade."
President and CEO Rod Antal said, "We enter 2023 with all assets operating at a steady state, supporting our expectations for a strong year of production and free cash flow generation. We expect to deliver first production from ??pler''s Çakmaktepe Extension project in 2023 and we are also initiating waste stripping activities at Marigold''s Red Dot later this year, in line with Marigold''s optimized life of mine plan.
"Overall, the business is in a good position both operationally and financially as we begin 2023, and we look forward to delivering the anticipated strong production growth, free cash flow generation and capital returns to shareholders."
SSR Mining is a gold mining company with four producing operations located in the USA, Türkiye, Canada, and Argentina, combined with a global pipeline of development and exploration assets.
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