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(Kitco News) - SSR Mining (TSX: SSRM) announced today that the company delivered Q2 2023 production of 156,625 gold equivalent ounces, down 2% from Q2 2022 (159,262 ounces).
The company also reported Q2 2023 cost of sales of $1,155 per gold equivalent ounce (Q2 2022: $986/oz) and all-in sustaining costs (AISC) of $1,633 per gold equivalent ounce (Q2 2022: $1,267/oz).
In the second half of the year, the company expects all four of its operations to deliver improved consolidated production of approximately four hundred thousand gold equivalent ounces at reduced costs, “resulting in strong free cash flow generation.”
The company's attributable net income in the second quarter of 2023 was $74.9 million (Q2 2022: $58.5 million) or $0.35 per diluted share, and adjusted attributable net income was $75.1 million (Q2 2022: $66.8 million) or $0.35 per diluted share.
In addition, SSR Mining announced that its Board declared a quarterly cash dividend of $0.07 per common share.
The company's consolidated 2023 production guidance of 700 to 780 thousand gold equivalent ounces at cost of sales of $1,055 to $1,115 per gold equivalent ounce and AISC of $1,365 to $1,425 per gold equivalent ounce remains unchanged.
From a growth perspective, the company said it continues to advance technical work to support anticipated updated life of mine plans at Çöpler and Marigold.
Moreover, SSR Mining noted it has initiated waste stripping activities at Çakmaktepe extension and remains on track for first gold production from the project within the year.
Importantly, at Hod Maden, initial site preparation activities are currently underway and the company continues to expect an updated technical report and construction decision for the project in 2024.
SSR Mining has four producing operations located in the USA, Türkiye, Canada, and Argentina, combined with a global pipeline of development and exploration assets. Over the last three years, the company's four operating assets combined have produced on average more than 700,000 gold-equivalent ounces annually.
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