Company Description
SSR Mining Inc. (SSRM) is a precious metals mining company listed on the Nasdaq and the Toronto Stock Exchange under the ticker symbol SSRM. According to company disclosures and recent filings, SSR Mining focuses on the production of gold and silver, with additional by-product output of lead and zinc. The company reports consolidated operating and financial results from a portfolio that includes the Marigold mine and the Cripple Creek & Victor Gold Mine (CC&V) in the United States, the Seabee Gold Operation in Canada, and the Puna operation in Argentina.
SSR Mining’s business model centers on owning and operating producing mines and advancing development and exploration projects within its portfolio. The company reports production and sales in gold ounces, silver ounces, and gold equivalent ounces, and it discloses cost metrics such as cost of sales per payable ounce, cash costs, and all-in sustaining costs (AISC) per gold equivalent ounce sold. These metrics, along with operating cash flow and free cash flow, are used by SSR Mining to evaluate mine performance and capital allocation across its operations.
Core operations and assets
SSR Mining’s portfolio, as described in its news releases and technical reporting, includes several key operations:
- Marigold (USA) – A gold mine in the United States that produces gold ounces and reports ore mined, waste removed, strip ratios, ore stacked, and gold grades. Marigold contributes a significant portion of SSR Mining’s gold production and is discussed in detail in quarterly operating summaries.
- Cripple Creek & Victor (CC&V, USA) – A gold mine in Colorado, USA. SSR Mining completed the acquisition of CC&V from Newmont, with an upfront cash payment and additional milestone-based contingent payments. A Technical Report Summary (TRS) for CC&V, prepared in accordance with Subpart 1300 of Regulation S-K, outlines a life of mine plan based on Mineral Reserves and describes Mineral Resources that are exclusive of those reserves.
- Seabee (Canada) – A gold operation in Canada that produces gold ounces and reports ore mined, ore milled, mill feed grades, and recovery rates. Operations at Seabee were temporarily suspended due to power interruptions caused by forest fires before being restarted once power supply was restored.
- Puna (Argentina) – An operation in Argentina that produces silver, lead, and zinc in concentrate. SSR Mining reports silver production and sales in thousands of ounces and lead and zinc production and sales in thousands of pounds, and it has discussed mine life extension opportunities at Puna through pit laybacks, stockpile processing, and work at the Cortaderas area.
In addition to these producing assets, SSR Mining is advancing development at the Hod Maden copper-gold project, where engineering and initial site establishment efforts are underway. The company has described Hod Maden as a project with the potential to generate significant free cash flow once in production, and it continues to work on an updated life of mine plan and capital estimates.
Cripple Creek & Victor (CC&V) Technical Report Summary
SSR Mining has filed a Technical Report Summary for the CC&V mine, which is included as an exhibit to a Current Report on Form 8-K. The TRS describes a life of mine plan based on gold Mineral Reserves and outlines Measured & Indicated and Inferred Mineral Resources that are exclusive of those reserves. The report discusses mine life, total production over the life of mine, and operating metrics such as average daily mining and stacking rates, strip ratios, stacked grades, and gold recovery. It also notes that most ore in the plan is sourced from active pits and that ore is placed on heap leach facilities, with a portion of the ore crushed and the balance placed as run-of-mine material.
The CC&V TRS also addresses constraints on Mineral Reserves related to Valley Leach Facility capacity and references a permit amendment intended to provide additional heap leach pad capacity. SSR Mining has indicated that the CC&V property covers a large land position within a historically significant gold mining district and that extensive drilling has been completed on the property, supporting the Mineral Resource base.
Financial reporting and performance metrics
SSR Mining regularly reports consolidated financial and operating results through quarterly news releases and associated Form 8-K filings. These disclosures include:
- Gold, silver, lead, and zinc production and sales volumes.
- Gold equivalent ounces produced and sold, calculated by applying commodity price ratios to silver production.
- Revenue, cost of sales, operating income, net income, and adjusted net income attributable to SSR Mining shareholders.
- Operating cash flow, free cash flow, and cash provided by operating activities before changes in working capital.
- Non-GAAP measures such as cash costs and AISC per gold equivalent ounce sold, which are reconciled to the most comparable GAAP measures.
The company also discloses its cash and cash equivalents, total liquidity, current assets, total assets, current liabilities, total liabilities, and working capital. These figures provide insight into SSR Mining’s balance sheet strength and its capacity to fund sustaining capital, growth capital, and exploration expenditures across its portfolio.
Development, exploration, and project pipeline
SSR Mining’s disclosures highlight ongoing development and exploration activities intended to extend mine lives and support future production. Examples include:
- Advancing brownfield growth projects at Marigold, Puna, and Seabee, described as potential mine life extension opportunities supported by near-mine and regional exploration.
- Evaluating additional resource development and exploration drilling at CC&V, as well as opportunities for fleet optimization and operating improvements.
- Continuing technical work, infill drilling, and early works at Hod Maden to further define project scope and de-risk initial production years.
- Working on mine life extension at Puna through pit laybacks, stockpile processing, and studies on the Cortaderas deposit.
SSR Mining also reports on its efforts to advance the restart of the Çöpler mine in Türkiye, including remediation, reclamation, and engagement with relevant authorities. The company has stated that it remains committed to restarting operations at Çöpler but is not able to estimate or predict when and under what conditions operations will resume.
Corporate governance and shareholder matters
SSR Mining provides information on its corporate governance through news releases and shareholder meeting results. At its annual meeting of shareholders, the company reports voting outcomes for director elections, advisory votes on executive compensation, and the appointment of its independent registered public accounting firm. It also discloses changes to its Board of Directors, including director resignations and committee roles.
The company is incorporated in British Columbia and files reports with the U.S. Securities and Exchange Commission under Commission File Number 001-35455. It uses Form 8-K to furnish news releases regarding financial results and to file technical reports such as the CC&V Technical Report Summary.
Regulatory reporting and technical standards
SSR Mining prepares and files technical reports for its material properties in accordance with Subpart 1300 of Regulation S-K. For CC&V, the company has filed a Technical Report Summary and the consent of the qualified person responsible for the report. These technical disclosures provide detailed information on Mineral Reserves and Mineral Resources, mining methods, processing assumptions, and economic analyses that underpin life of mine plans.
In its financial communications, SSR Mining includes cautionary notes regarding forward-looking information and non-GAAP financial measures. The company explains how non-GAAP measures such as free cash flow, cash costs, and AISC are calculated and reconciles them to the most comparable GAAP measures, providing additional context for investors analyzing its operating performance.
Trading information and sector classification
SSR Mining is classified in the mining sector and is associated with silver ore mining and precious metals production. Its shares trade on the Nasdaq and the Toronto Stock Exchange under the symbol SSRM. The company’s operations span gold and silver production, with lead and zinc as by-products, and it reports consolidated results that reflect contributions from its mines in the Americas and its interests in projects such as Hod Maden.
Investors researching SSRM stock can review the company’s news releases, technical reports, and SEC filings to understand its asset base, production profile, cost structure, and development pipeline. These disclosures provide a detailed view of how SSR Mining manages its portfolio of producing mines and growth projects within the precious metals mining industry.
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Short Interest History
Short interest in Ssr Mng (SSRM) currently stands at 12.6 million shares, up 13.2% from the previous reporting period, representing 6.2% of the float. Over the past 12 months, short interest has increased by 100.8%.
Days to Cover History
Days to cover for Ssr Mng (SSRM) currently stands at 2.5 days, down 36.9% from the previous period. This days-to-cover ratio represents a balanced liquidity scenario for short positions. The ratio has shown significant volatility over the period, ranging from 2.3 to 5.0 days.