SSR Mining Reports First Quarter 2023 Results

Posted on May 4th, 2023 | Filed under Press Releases

First Quarter 2023 Highlights (1)

  • Attributable & Adjusted Attributable Diluted Earnings Per Share of $0.14 and $0.10, Respectively
  • Q1 Production of 147 Thousand Gold Equivalent Ounces at Cost of Sales of $1,289 and AISC of $1,693 Per Ounce
  • Year-to-Date Production and Cost Metrics on Track for Full-Year Consolidated Guidance Targets
  • Released Rolling Three-Year Outlook Confirming 700 Thousand Gold Equivalent Ounce Platform
  • Commenced Initial Stripping Activities at Çakmaktepe Extension Project, First Gold Production on Track in 2023
  • Execution of Capital Returns Program Continued With $47 Million Returned to Shareholders in 2023
  • Positive Exploration Results From Puna Highlighted Opportunities for Mineral Reserve Growth
  • Published Fifth Annual ESG and Sustainability Report

DENVER–(BUSINESS WIRE)–SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) (“SSR Mining” or the “Company”) reports consolidated financial results for the first quarter ended March 31, 2023. In addition, the Board of Directors declared a quarterly cash dividend of $0.07 per common share payable on June 12, 2023 to holders of record at the close of business on May 15, 2023. This dividend qualifies as an ‘eligible dividend’ for Canadian tax purposes.

Rod Antal, President and CEO of SSR Mining, said, “Our operating results for the first quarter of 2023 were well aligned to our expectations and have the Company on track for full-year consolidated production and cost guidance. We continue to expect a second half weighted production and free cash flow profile with sustaining capital spending across the portfolio progressively tapering off in the second half of the year.

During the quarter, we updated our three-year rolling guidance affirming a 700 thousand gold equivalent ounce production platform, a level that we expect to maintain over the remainder of the decade through modest Mineral Reserve conversion and growth within our existing portfolio. These expected production levels were supported by multiple initiatives during the quarter, including the commencement of stripping activities at Çakmaktepe Extension as we prepare for first production later this year and the purchase of new haul trucks at Marigold to support initial waste stripping at Red Dot. In addition, the positive exploration update from Puna provided yet another example of the robust global exploration pipeline that we expect will further support our long-term growth targets.

Overall, SSR Mining remains in a very strong position, supported by a robust balance sheet, significant capital returns, a number of valuation catalysts on the horizon as we further define Çöpler’s C2 expansion project and Marigold’s New Millennium target, and the expectation of improving production and free cash flow in the coming quarters.”

___________________________________

(1) The Company reports non-GAAP financial measures including adjusted attributable net income, adjusted attributable net income per share, cash generated by operating activities before working capital adjustments, free cash flow, free cash flow before changes in working capital, net cash (debt), cash costs and AISC per ounce sold (a common measure in the mining industry), to manage and evaluate its operating performance at its mines. See “Cautionary Note Regarding Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation of these financial measures to the most comparable GAAP financial measures.

First Quarter 2023 Highlights (1):

(All figures are in U.S. dollars unless otherwise noted)

  • Operating performance in line with expectations: The Company reported first quarter 2023 production of 146,894 gold equivalent ounces at cost of sales of $1,289 per gold equivalent ounce and all-in sustaining costs (“AISC”) of $1,693 per gold equivalent ounce. As previously guided, the first quarter is expected to represent the lowest quarter of production for 2023. AISC in Q1 reflects the expected increased sustaining capital spend associated with the Seabee winter road and haul truck purchases at Marigold.
  • On track for full-year 2023 consolidated guidance: During the first quarter of 2023, the Company announced 2023 production guidance of 700 to 780 thousand gold equivalent ounces at consolidated 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. In addition, SSR Mining’s three-year outlook highlighted a strong and stable production base of approximately 700 thousand gold equivalent ounces through 2025 without requiring significant capital investment. Full year projected production and cost expectations remain aligned with the existing consolidated guidance ranges.
  • Financial results: Attributable net income in the first quarter of 2023 was $29.8 million, or $0.14 per diluted share, and adjusted attributable net income was $21.3 million, or $0.10 per diluted share. For the three months ended March 31, 2023, operating cash flow was $3.0 million, or $90.9 million before working capital adjustments. Free cash flow was $(56.3) million, or $31.6 million before working capital adjustments. First quarter free cash flow reflects the aforementioned sustaining capital weighting, and as per initial guidance, free cash flow remains strongly weighted to the second half of 2023.
  • Robust capital returns program continues: During the first quarter, SSR Mining returned $19.6 million to shareholders, consisting of $14.4 million in dividends and $5.2 million in share repurchases. As of April 30, 2023, the Company had completed an additional $27.1 million in share repurchases, bringing the total shares repurchased in 2023 to $32.3 million at an average price of $15.06 per share. Since announcing the Normal Course Issuer Bid (“NCIB”) on June 20, 2022, the Company has purchased a total of 8.2 million shares for total returns of approximately $132.3 million, with capacity remaining to repurchase approximately 2.4 million additional shares ahead of the NCIB’s expiry on June 19, 2023. Since the start of 2021, the Company has returned approximately $400 million to shareholders through base dividends and the repurchase of approximately 17.0 million shares.
  • Resilient balance sheet: As of March 31, 2023, SSR Mining had a cash and cash equivalents balance of $561.8 million. Non-GAAP net cash totals $312.4 million as of March 31, 2023 and SSR Mining had total available liquidity of nearly $900 million.
  • Çöpler delivers steady operational performance; Çakmaktepe Extension on track for first production: Gold production was 55,074 ounces in the first quarter of 2023 at cost of sales of $1,287 per ounce and AISC of $1,420 per ounce. The sulfide plant delivered its second consecutive quarter at an average throughput rate of more than 8,000 tonnes per day. The Çakmaktepe Extension project remains on track to deliver first gold production in 2023, with initial waste stripping activity now underway.
  • Marigold production and costs in line with plan: Gold production was 51,979 ounces in the first quarter of 2023 at a cost of sales of $1,063 per ounce and AISC of $1,663 per ounce, reflecting $29.0 million in sustaining capital purchases, partially associated with haul truck purchases, in the quarter. Marigold remains on track for its full year sustaining capital budget of $81 million in 2023, with the majority of that spend expected in the first half of the year.
  • Successful winter road season at Seabee: Gold production was 15,768 ounces in the first quarter of 2023 at cost of sales of $1,385 per ounce and AISC of $2,207 per ounce. Plant throughput in the first quarter averaged approximately 1,250 tonnes per day, highlighting the ongoing success of continuous improvement initiatives at the site. However, underground mining was impacted by now-resolved equipment downtime that altered the mine sequencing schedule. Seabee incurred $13.1 million in sustaining capital in the first quarter, in line with plan and reflecting the first half weighted capital profile due to winter road deliveries
  • Puna continues to deliver strong performance: Silver production was 2.0 million ounces in the first quarter of 2023 at cost of sales of $19.67 per ounce of silver and AISC of $16.40 per ounce of silver. Throughput averaged more than 4,600 tonnes per day during the quarter.
  • Near-mine exploration results highlight potential Mineral Reserve growth at Puna: SSR Mining continued to showcase its global exploration platform with a positive update from Puna during the first quarter. The 2022 Puna exploration program focused on resource expansion, discovery and reconciliation drilling at Chinchillas and was the first exploration drilling completed at the property since 2016. The positive results highlight the potential for extensions to Puna’s current Mineral Reserve life.
  • 2022 ESG and Sustainability Report: On April 14, 2023, the Company published its fifth annual ESG and Sustainability Report. The report provides a comprehensive overview of how SSR Mining manages sustainability across its business, and also details specific achievements in 2022 as well as the commitments the Company has made for 2023.

Financial and Operating Highlights

A summary of the Company’s consolidated financial and operating results for the three months ended March 31, 2023 and March 31, 2022 are presented below:

 

  

 

  

Three Months Ended

(in thousands of US dollars, except per share data)

  

 

  

March 31,

 

  

 

  

2023

  

2022

Financial Results

  

 

  

 

    

 

Revenue

  

 

  

$

314,614

 

  

$

355,446

 

Cost of sales

  

 

  

$

199,297

 

  

$

153,520

 

Operating income

  

 

  

$

36,985

 

  

$

115,870

 

Net income

  

 

  

$

29,004

 

  

$

76,106

 

Net income attributable to shareholders of SSR Mining

  

 

  

$

29,813

 

  

$

67,563

 

Basic net income per share attributable to shareholders of SSR Mining

  

 

  

$

0.14

 

  

$

0.32

 

Diluted net income per share attributable to shareholders of SSR Mining

  

 

  

$

0.14

 

  

$

0.31

 

Adjusted attributable net income (2)

  

 

  

$

21,274

 

  

$

65,942

 

Adjusted basic attributable net income per share (2)

  

 

  

$

0.10

 

  

$

0.31

 

Adjusted diluted attributable net income per share (2)

  

 

  

$

0.10

 

  

$

0.30

 

 

  

 

  

 

    

 

Cash generated by (used in) operating activities before changes in working capital (2)

    

$

90,869

 

  

$

130,767

 

Cash generated by (used in) operating activities

  

 

  

$

2,967

 

  

$

62,187

 

Cash used in investing activities

  

 

  

$

(51,881

)

  

$

(27,885

)

Cash used in financing activities

  

 

  

$

(38,189

)

  

$

(53,449

)

 

  

 

  

 

    

 

Operating Results

  

 

  

 

    

 

Gold produced (oz)

  

 

  

 

122,821

 

  

 

157,011

 

Gold sold (oz)

  

 

  

 

126,111

 

  

 

157,179

 

Silver produced (‘000 oz)

  

 

  

 

2,015

 

  

 

1,303

 

Silver sold (‘000 oz)

  

 

  

 

2,382

 

  

 

1,760

 

Lead produced (‘000 lb) (3)

  

 

  

 

11,361

 

  

 

7,303

 

Lead sold (‘000 lb) (3)

  

 

  

 

13,370

 

  

 

10,212

 

Zinc produced (‘000 lb) (3)

  

 

  

 

2,480

 

  

 

1,843

 

Zinc sold (‘000 lb) (3)

  

 

  

 

3,687

 

  

 

3,129

 

 

  

 

  

 

    

 

Gold equivalent produced (oz) (4)

  

 

  

 

146,894

 

  

 

173,675

 

Gold equivalent sold (oz) (4)

  

 

  

 

154,557

 

  

 

179,692

 

 

  

 

  

 

    

 

Average realized gold price ($/oz sold)

  

 

  

$

1,902

 

  

$

1,879

 

Average realized silver price ($/oz sold)

  

 

  

$

23.38

 

  

$

24.08

 

 

  

 

  

 

    

 

Cost of sales per gold equivalent ounce sold (4)

  

 

  

$

1,289

 

  

$

854

 

Cash cost per gold equivalent ounce sold (2, 4)

  

 

  

$

1,204

 

  

$

775

 

AISC per gold equivalent ounce sold (2, 4)

  

 

  

$

1,693

 

  

$

1,093

 

 

  

 

  

 

    

 

Financial Position

  

March 31, 2023

  

December 31, 2022

Cash and cash equivalents

  

$

561,783

  

$

655,453

 

Current assets

  

$

1,342,308

 

  

$

1,376,435

 

Total assets

  

$

5,234,803

 

  

$

5,254,657

 

Current liabilities

  

$

250,962

 

  

$

279,252

 

Total liabilities

  

$

1,096,992

 

  

$

1,128,458

 

Working capital (5)

  

$

1,091,346

 

  

$

1,097,183

 

(2)

The Company reports non-GAAP financial measures including adjusted attributable net income, adjusted attributable net income per share, cash generated by operating activities before changes in working capital, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. See “Non-GAAP Financial Measures” at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to net income, cost of sales, and cash generated by operating activities, which are the most comparable GAAP financial measures.

(3)

Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate.

(4)

Gold equivalent ounces are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average London Bullion Market Association (“LBMA”) prices for the period. The Company does not include by-products in the gold equivalent ounce calculations.

(5)

Working capital is defined as current assets less current liabilities.

Çöpler, Türkiye

(amounts presented on 100% basis)

 

  

Three Months Ended

 

  

March 31,

Operating Data

  

2023

 

2022

Gold produced (oz)

  

 

55,074

 

 

 

70,641

 

Gold sold (oz)

  

 

58,014

 

 

 

72,425

 

 

  

 

 

 

Ore mined (kt)

  

 

1,179

 

 

 

1,011

 

Waste removed (kt)

  

 

5,375

 

 

 

5,135

 

Total material mined (kt)

  

 

6,554

 

 

 

6,146

 

Strip ratio

  

 

4.6

 

 

 

5.1

 

 

  

 

 

 

Ore stacked (kt)

  

 

188

 

 

 

63

 

Gold grade stacked (g/t)

  

 

1.22

 

 

 

0.78

 

 

  

 

 

 

Ore milled (kt)

  

 

724

 

 

 

645

 

Gold mill feed grade (g/t)

  

 

2.47

 

 

 

3.32

 

Gold recovery (%)

  

 

87.7

 

 

 

87.0

 

 

  

 

 

 

Average realized gold price ($/oz sold)

  

$

1,890

 

 

$

1,873

 

Cost of sales ($/oz gold sold)

  

$

1,287

 

 

$

864

 

Cash costs ($/oz gold sold) (6)

  

$

1,272

 

 

$

844

 

AISC ($/oz gold sold) (6)

  

$

1,420

 

 

$

955

 

(6)

The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Çöpler. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended March 31, 2023 and 2022, Çöpler produced 55,074 and 70,641 ounces of gold, respectively. Lower production for the three months ended March 31, 2023, as compared to the prior year, is mainly due to planned lower grade sulfide ore milled. First quarter 2023 cost of sales of $1,287 per ounce and AISC of $1,420 per ounce were in line with expectations.

Çöpler is on track to meet 2023 production guidance of 240,000 to 270,000 ounces of gold at mine site cost of sales of $1,070 to $1,100 per payable ounce and AISC of $1,245 to $1,295 per payable ounce. Ҫӧpler’s production profile remains approximately 55% weighted to the second half of 2023. The Çakmaktepe Extension project remains on track to achieve first production within 2023, with initial waste stripping activities now underway. The C2 expansion project continues to progress towards a pre-feasibility study, including maiden Mineral Reserves and updated Mineral Resources, anticipated in the fourth quarter of 2023.

Marigold, USA

 

  

Three Months Ended

 

  

March 31,

Operating Data

  

2023

2022

Gold produced (oz)

  

 

51,979

 

 

 

33,788

 

Gold sold (oz)

  

 

51,297

 

 

 

36,954

 

 

  

 

 

 

Ore mined (kt)

  

 

5,367

 

 

 

4,820

 

Waste removed (kt)

  

 

17,029

 

 

 

19,788

 

Total material mined (kt)

  

 

22,396

 

 

 

24,608

 

Strip ratio

  

 

3.2

 

 

 

4.1

 

 

  

 

 

 

Ore stacked (kt)

  

 

5,367

 

 

 

4,820

 

Gold grade stacked (g/t)

  

 

0.42

 

 

 

0.39

 

 

  

 

 

 

Average realized gold price ($/oz sold)

  

$

1,913

 

 

$

1,821

 

Cost of sales ($/oz gold sold)

  

$

1,063

 

 

$

1,048

 

Cash costs ($/oz gold sold) (7)

  

$

1,066

 

 

$

1,048

 

AISC ($/oz gold sold) (7)

  

$

1,663

 

 

$

1,564

 

(7)

The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Marigold. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended March 31, 2023 and 2022, Marigold produced 51,979 and 33,788 ounces of gold, respectively. During the first quarter of 2023, Marigold reported cost of sales of $1,063 per ounce and AISC of $1,663 per ounce. First quarter AISC reflects the expected first-half weighted sustaining capital spend profile, with $29 million of Marigold’s $81 million in 2023 sustaining capital guidance incurred during the quarter.

Marigold is on track for 2023 production guidance of 260,000 to 290,000 ounces of gold at mine site cost of sales of $1,000 to $1,030 per payable ounce and AISC of $1,315 to $1,365 per ounce. For the full year, production remains 60 to 70% weighted to the second half of 2023, including a peak in the third quarter. Marigold’s cost profile is expected to largely reflect the 2023 production profile, with first half costs above the full-year guidance range and the lowest cost periods in the third and fourth quarters. In the first quarter, Marigold stacked competent ore that is typical for the mine, helping support shorter leach cycles as compared to 2022.

Seabee, Canada

 

 

Three Months Ended

 

 

March 31,

Operating Data

 

2023

 

2022

Gold produced (oz)

 

 

15,768

 

 

 

52,582

 

Gold sold (oz)

 

 

16,800

 

 

 

47,800

 

 

 

 

 

 

Ore mined (kt)

 

 

99

 

 

 

103

 

 

 

 

 

 

Ore milled (kt)

 

 

112

 

 

 

95

 

Gold mill feed grade (g/t)

 

 

4.60

 

 

 

17.77

 

Gold recovery (%)

 

 

96.1

 

 

 

98.6

 

 

 

 

 

 

Average realized gold price ($/oz sold)

 

$

1,910

 

 

$

1,860

 

Cost of sales ($/oz gold sold)

 

$

1,385

 

 

$

343

 

Cash costs ($/oz gold sold) (8)

 

$

1,386

 

 

$

344

 

AISC ($/oz gold sold) (8)

 

$

2,207

 

 

$

596

 

(8)

The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Seabee. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended March 31, 2023 and 2022, Seabee produced 15,768 and 52,582 ounces of gold, respectively, with lower production in the first quarter of 2023 primarily a result of lower grade ore milled. Processed grades during the first quarter of 2023 were impacted by now-resolved equipment downtime that altered the mine sequencing schedule. Processing plant throughput in the first quarter averaged approximately 1,250 tonnes per day, demonstrating the ongoing success of continuous improvement initiatives in the Seabee processing plant.

During the first quarter of 2023, Seabee reported cost of sales of $1,385 per ounce and AISC of $2,207 per ounce. As guided, sustaining capital spend at Seabee is concentrated in the first half of the year as a result of the winter road season. Seabee’s production remains 55% weighted to the second half of the year, as processed grades are expected to trend back in line with Seabee’s Mineral Reserve grade over the full year.

Puna, Argentina

 

 

Three Months Ended

 

 

March 31,

Operating Data

 

2023

 

2022

Silver produced (‘000 oz)

 

 

2,015

 

 

 

1,303

 

Silver sold (‘000 oz)

 

 

2,382

 

 

 

1,760

 

Lead produced (‘000 lb)

 

 

11,361

 

 

 

7,303

 

Lead sold (‘000 lb)

 

 

13,370

 

 

 

10,212

 

Zinc produced (‘000 lb)

 

 

2,480

 

 

 

1,843

 

Zinc sold (‘000 lb)

 

 

3,687

 

 

 

3,129

 

Gold equivalent sold (‘000 oz) (9)

 

 

28,446

 

 

 

22,513

 

 

 

 

 

 

Ore mined (kt)

 

 

349

 

 

 

347

 

Waste removed (kt)

 

 

1,984

 

 

 

2,078

 

Total material mined (kt)

 

 

2,333

 

 

 

2,425

 

Strip ratio

 

 

5.7

 

 

 

6.0

 

 

 

 

 

 

Ore milled (kt)

 

 

415

 

 

 

373

 

Silver mill feed grade (g/t)

 

 

157.4

 

 

 

114.4

 

Lead mill feed grade (%)

 

 

1.32

 

 

 

0.97

 

Zinc mill feed grade (%)

 

 

0.44

 

 

 

0.44

 

Silver mill recovery (%)

 

 

96.0

 

 

 

92.8

 

Lead mill recovery (%)

 

 

94.4

 

 

 

91.6

 

Zinc mill recovery (%)

 

 

62.0

 

 

 

44.0

 

 

 

 

 

 

Average realized silver price ($/oz sold)

 

$

23.38

 

 

$

24.08

 

Cost of sales ($/oz sold)

 

$

19.67

 

 

$

20.34

 

Cash costs ($/oz silver sold) (10)

 

$

14.41

 

 

$

13.06

 

AISC ($/oz silver sold) (10)

 

$

16.40

 

 

$

14.67

 

(9)

Gold equivalent ounces are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include by-products in the gold equivalent ounce calculations.

(10)

The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of silver sold to manage and evaluate operating performance at Puna. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended March 31, 2023 and 2022, Puna produced 2.0 million and 1.3 million ounces of silver, respectively. The year-over-year increase is primarily driven by improved ore grades and tonnes processed in the first quarter of 2023. During the first quarter of 2023, Puna reported cost of sales of $19.67 per ounce of silver sold and AISC of $16.40 per ounce of silver sold.

Puna remains on track to meet 2023 production guidance of 8.0 to 9.0 million ounces of silver at mine site cost of sales of $18.00 to $19.50 per payable ounce and AISC of $16.25 to $17.75 per payable ounce. Production remains 50 to 55% weighted to the second half of 2023, driven largely by grades that peak in the third quarter. Cost of sales and AISC are expected to be highest in the first half of 2023, including a peak in the second quarter, reflecting the site-level capital spend profile.

Conference Call Information

This news release should be read in conjunction with the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website at www.sec.gov or www.ssrmining.com.

  • Conference call and webcast: Thursday, May 4, 2023, at 5:00 pm EDT.

 

Toll-free in U.S. and Canada:

+1 (800) 319-4610

 

All other callers:

+1 (604) 638-5340

 

Webcast:

http://ir.ssrmining.com/investors/events
  • The conference call will be archived and available on our website. Audio replay will be available for two weeks by calling:

 

Toll-free in U.S. and Canada:

+1 (855) 669-9658, replay code 9958

 

All other callers:

+1 (412) 317-0088, replay code 9958

Dividend Declaration

On May 4, 2023 the Board of Directors declared a quarterly cash dividend of $0.07 per common share, payable on June 12, 2023 to holders of record at the close of business on May 15, 2023. This dividend qualifies as an ‘eligible dividend’ for Canadian income tax purposes.

The dividend payment applies to holders of SSR Mining’s common shares, which trade on the Toronto Stock Exchange and the Nasdaq under the symbol SSRM, and to holders of its CHESS Depositary Interests (“CDIs”), which trade on the Australian Securities Exchange under the symbol SSR. Each CDI confers a beneficial interest in one common share. Therefore, CDI holders are entitled to a dividend calculated on the same basis as the holders of SSR Mining’s common shares.

SSR Mining has sought and been granted a temporary waiver of certain of the ASX Settlement Operating Rules. Under the authority of the waiver, the processing of conversions of common shares to CDIs, or CDIs to common shares, lodged on or after or after May 12, 2023, will be deferred until after the record date of May 15, 2023. The key dates with respect to the dividend are as follows:

Last date for processing requests to convert CDIs into common shares and to convert common shares into CDIs before the record date for the dividend

 

May 11, 2023

CDIs trade on the ASX on an ex‐dividend basis

 

May 12, 2023

Common shares trade on the TSX and Nasdaq on an ex‐dividend basis

 

May 12, 2023

Record date for the dividend

 

May 15, 2023

Processing recommences for requests to convert CDIs into common shares and to convert common shares into CDIs

 

May 16, 2023

Common share dividend payment date (in Canada and the United States)

 

June 12, 2023

Payment of dividend to CDI holders (in Australia)

 

June 13, 2023

Contacts

SSR Mining:

F. Edward Farid, Executive Vice President, Chief Corporate Development Officer

Alex Hunchak, Director, Corporate Development and Investor Relations

SSR Mining Inc.

E-Mail: [email protected]
Phone: +1 (888) 338-0046

To receive SSR Mining’s news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.

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