DENVER - SSR Mining (NASDAQ:SSRM) Inc. (NASDAQ/TSX: SSRM, ASX: SSR), a mining company with a market capitalization of $1.4 billion and a healthy dividend yield of 4.1%, has reported a significant production milestone achieved by its Marigold Mine on December 30, 2024. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 3.91, indicating robust financial health. The mine, which has been in operation for over three decades, has now produced a total of 5 million ounces of gold. Since SSR Mining's acquisition of Marigold in 2014, the mine has contributed more than 2 million ounces to this total, with a notable 278,000 ounces produced in 2023 alone.
The Marigold Mine is recognized for its longstanding operation and consistent performance. Rod Antal, Executive Chairman of SSR Mining, expressed pride in the Marigold team's accomplishment, highlighting the mine's sustained output as a testament to its quality and the team's efforts. InvestingPro data reveals the company operates with a moderate debt level, with a debt-to-equity ratio of just 0.11, while analysts project improved profitability for the coming year. For detailed analysis, investors can access the comprehensive Pro Research Report, available among 1,400+ top stocks covered by InvestingPro. He also noted that, as of December 31, 2023, the mine still had nearly 3 million ounces in Mineral Reserves, which supports the projection of a mine life extending at least nine more years.
SSR Mining's 2024 growth strategy includes approximately $10 million in expenditures at Marigold, focusing on extending the mine's life. Part of this investment is directed towards the Buffalo Valley project, which is expected to contribute to the mine's longevity.
This announcement is based on a press release statement and does not imply any endorsement of the company's claims. It is intended to present the milestone achieved by the Marigold Mine and SSR Mining's ongoing investment in its operations. The forward-looking statements in the release are based on current expectations and are subject to risks and uncertainties that may cause actual results to differ materially.
SSR Mining is listed on several major stock exchanges, including the Nasdaq and the Toronto Stock Exchange under the ticker SSRM, and on the Australian Securities Exchange under the ticker SSR. The company has shown strong momentum with a 52% price return over the past six months, and InvestingPro analysis indicates the stock is currently undervalued based on its Fair Value assessment. For more information about the company and its operations, interested parties can visit SSR Mining's official website or access additional insights through InvestingPro's extensive metrics and expert analysis tools.
In other recent news, SSR Mining Inc. has released its third quarter 2024 financial results, highlighting both the company's financial performance and updates on the Çöpler mine incident. The company reported an attributable net income of $0.05 per share and a negative cash flow of $1 million. SSR Mining produced 97,000 gold equivalent ounces in Q3 at an all-in sustaining cost (AISC) of $2,065 per ounce.
Remediation costs for the Çöpler mine, following the incident, are estimated to be between $250 million to $300 million over the next 24 to 36 months. Despite the setback, operations at the Çöpler mine are expected to restart within 20 days of receiving regulatory approvals.
In other company developments, Marigold production remains on track for annual guidance while Seabee's guidance has been revised due to forest fires. Puna, another SSR Mining operation, achieved a record throughput, leading to an increased full-year silver production outlook. These are recent developments that underline the company's resilience in maintaining production targets despite challenges.
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