SSR Mining (ASX:SSR) Reports 2024 Financial Results
Financial Performance
SSR Mining reported a net loss of $261.3 million for the full year 2024, primarily due to reclamation and remediation costs from the Çöpler incident. Adjusted net income was $57.6 million. The company’s cash balance stood at $387.9 million, with total liquidity of $887.5 million.
Operational Highlights
In 2024, SSR Mining produced 399,267 gold equivalent ounces, achieving a 5 million-ounce milestone at Marigold and record silver production at Puna. Q4 production reached 124,154 gold equivalent ounces at an AISC of $1,857 per ounce.
Çöpler Mine Incident Update
Operations at the Çöpler mine remain suspended following the February 13, 2024 incident. SSR Mining has removed all displaced heap leach material and incurred $127.6 million in remediation costs for 2024. The company anticipates $250-$300 million more for remediation work.
Strategic Transactions
SSR Mining completed the sale of the San Luis project for $5.0 million cash and up to $37.5 million in future payments. Additionally, the company entered into an agreement to acquire the Cripple Creek & Victor Gold Mine for $100 million upfront and up to $175 million in milestones.
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