Q4 2024 SSR Mining Inc Earnings Call Transcript
Key Points
- SSR Mining Inc (SSRM) closed 2024 with strong operating results and a year-over-year increase in consolidated reserves.
- The acquisition of Cripple Creek and Victor Mine from Newmont is expected to increase scale, free cash flow, and portfolio diversification.
- Marigold celebrated 5 million ounces of life-of-mine gold production, showcasing the quality of the mine and team.
- Puna achieved record production of 10.5 million ounces of silver in 2024, hitting the top end of its increased production guidance.
- The company has a strong financial position with $388 million in total cash and a net cash position of $158 million, providing liquidity for future investments.
- The tragic incident at Ãöpler has left a significant impact, and operations are still awaiting restart pending discussions with Turkish authorities.
- All-in sustaining costs (AISC) were high at $1,857 per ounce in Q4 2024, with full-year AISC at $1,878 per ounce.
- Care and maintenance costs at Ãöpler and Seabee totaled $36 million in Q4, impacting net income.
- Marigold's costs are expected to remain elevated in 2025 due to increased royalty expenses and cost pressures.
- The remediation and containment costs at Ãöpler are estimated between $250 million to $300 million, with significant spending still required.
Hello, everyone, and welcome to SSR Mining's fourth quarter and year-end 2024 conference call. Please be advised that this call is being recorded. (Operator Instructions)
At this time, for opening remarks and introductions, I would like to turn the call over to Alex Hunchak from SSR Mining. Please go ahead.
Thank you, operator, and hello, everyone. Thank you for joining today's conference call to discuss SSR Mining's fourth quarter and full-year financial results. Our consolidated financial statements have been presented in accordance with US GAAP. These financial statements have been filed on EDGAR, sEDAR, the ASX, and are also available on our website.
There is an online webcast accompanying this call, and you will find the information to access the webcast in this afternoon's news release and on our corporate website. Please note that all figures discussed during the call are in US dollars unless otherwise indicated.
Today's discussion will include forward-looking
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