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SSR Mining Inc

www: www.ssrmining.com   email: invest@ssrmining.com
Category: Major
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Symbol Currency
NASDAQ:SSRM USD
TSE:SSRM CAD

Description

SSR Mining Inc are a gold focused major with four producing mines in Argentina, Canada, Turkey and USA, three mines in development in Mexico, Peru and Turkey and exploration properties. Currently they produce roughly 350koz. of gold per year. They have approximately 37Moz. of gold in the reserves and resources category of which 27Moz. are in the measured and indicated category. They have a market capitalisation of ~$1064.5M which is a fall of roughly 60% over the last seven months. As of 10/05/2023 they have ~$266M debt and ~$379M cash. They have 204M shares outstanding and trade on the NASDAQ Stock Exchange and the Toronto Stock Exchange.

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General Details

Financial 10/05/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
MCap (FD): $2,664.93M $1,064.50M 10/05/2023 $-1,600.44M
Total Assets: $2,000.00M $2,000.00M 10/05/2023 $0.00M
Total Liabilities: $650.00M $650.00M 10/05/2023 $0.00M
Current Assets: $600.00M $600.00M 10/05/2023 $0.00M
Current Liabilities: $100.00M $100.00M 10/05/2023 $0.00M
Total Debt: $266.00M $266.00M 10/05/2023 $0.00M
Cash: $379.00M $379.00M 10/05/2023 $0.00M
Enterprise Value: $2,551.93M $951.50M 02/25/2000 $-1,600.44M
Cash Flow: $166.58M $234.61M never $68.03M
Cash Flow Multiple: 16.00 4.54 never -11.46
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: 10/05/2023 n/a
Misc 10/05/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 204,000,000 204,000,000 10/05/2023 0
Shares (FD): 211,000,000 211,000,000 10/05/2023 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 10/05/2023 n/a
Production (Gold Eq Oz.): (guess) 
750,000
(guess) 
350,000
02/13/2024 -400,000
Production (Silver Eq Oz.): (guess) 
65,106,003
(guess) 
29,314,664
02/13/2024 -35,791,339
Initial CapEx (Outstanding): n/a n/a 10/05/2023 n/a
Funding Option: n/a n/a 10/05/2023 n/a
Documentation: none PRODUCER 03/31/2024 n/a
Future MCap Modifier: 0.25
Producer: Quality
0.25
Producer: Quality
04/24/2023 0
Cash Flow Multiplier: 15 10 03/31/2024 -5.00

Resource Data

GOLD 10/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 9.00M 9.00M 10/05/2023 0.00M
Measured & Indicated: 27.00M 27.00M 10/05/2023 0.00M
Inferred: 10.00M 10.00M 10/05/2023 0.00M
Reserves & Resources: 37.00M 37.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 7.20M 7.65M 10/05/2023 0.45M
Measured & Indicated: 18.72M 19.89M 10/05/2023 1.17M
Inferred: 4.00M 4.25M 10/05/2023 0.25M
Reserves & Resources: 22.72M 24.14M never 1.42M
C
U
R
R
E
N
T
Annual Production: (guess) 
750,000oz.
(guess) 
350,000oz.
02/13/2024 -400,000oz.
Cash Cost: $1,100 $1,200 02/13/2024 $100.00
Extra Operating Cost: $500 $500 10/05/2023 $0.00
G
R
A
D
E
Underground (Avg): 0.90 g/t 6.00 g/t 03/19/2024 5.10 g/t
Open Pit (Avg): n/a 1.50 g/t 03/19/2024 1.50 g/t
Recovery Rate: (CG)  80.00% (CG)  85.00% 03/31/2024 5.00%
F
U
T
U
R
E
Proven & Probable: 25.00M 25.00M 10/05/2023 0.00M
Annual Production: 750,000oz. 700,000oz. 02/13/2024 -50,000oz.
Cash Cost: $1,100 $1,100 10/05/2023 $0
Extra Operating Cost: $500 $500 10/05/2023 $0
SILVER 10/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 10/05/2023 0.00M
Measured & Indicated: n/a n/a 10/05/2023 0.00M
Inferred: n/a n/a 10/05/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 10/05/2023 0.00M
Measured & Indicated: n/a n/a 10/05/2023 0.00M
Inferred: n/a n/a 10/05/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 10/05/2023 $0.00
Extra Operating Cost: n/a n/a 10/05/2023 $0.00
G
R
A
D
E
Underground (Avg): n/a n/a 10/05/2023 n/a
Open Pit (Avg): n/a n/a 10/05/2023 n/a
Recovery Rate: n/a n/a 10/05/2023 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 10/05/2023 0.00M
Annual Production: n/a n/a 10/05/2023 n/a
Cash Cost: n/a n/a 10/05/2023 n/a
Extra Operating Cost: n/a n/a 10/05/2023 n/a

Property

Last Analysis Data  (10/05/2023)
Stage Name Owned Au Ag Cu Notes
Prod Puna (Pirquitas & Chinchillas) 100% show
2017 last year production for Pirquitas open pit.

Facilities now being used to process ore from Chinchillas property.

2019 Start of production for Chinchillas open pit.

5 years of mining to 2026 including average annual production of 7.0 million ounces of silver over the first 5 years.
Prod Seabee / Santoy 8 100% show
High grade underground mine at 5.5 gpt.

1.2 million oz deposit

75,000 production

$700 cash costs
Exp Amisk 100% show
Very large property

1 million oz open pit project

There next mine. Still early stage development.
Exp Chico 100% show
Obtained 100% interest in property with Taiga Gold acquisition in December, 2021
Exp Fisher 100% show
Obtained 100% interest in property with Taiga Gold acquisition in December, 2021
Exp Leland 100% show
Early exploration
Exp Orchid 100% show
Early exploration
Exp SAM 100% show
Early exploration
Exp Sunrise Lake 100% n/a
Dev Pitarrilla 1% show
NOTE:
Sold to Endeavour Silver Corp. for US$35 million in cash, US$35 million in shares of Endeavour Silver Corp., and a 1.25% net smelter return royalty


Huge project. 15 million oz of production for 32 years.

This will likely be the mine that makes or the company a success for shareholders.

Large capex of $750 million. Production in 2016.

475 million oz deposit (Reserves!). at 3 opt.

On hold because they do not have water rights.
Exp San Marcial 1% show
Sold to GR Silver for C$2.5 million who issued 1.5 million shares to SSR Mining, and SSR granted a 0.75% net smelter return royalty
Dev San Luis 100% show
Small project, but exploration potential. Currently a 4 yr mine life. High grade.
Prod Copler 80% show
6 million oz deposit at 1.1 gpt (there share)

Currently mining open pit oxides at about 135,000 oz until 2020.
Dev Çakmaktepe 80% n/a
Exp Çöpler Saddle Shear Zone 80% n/a
Exp Copper Hill 70% n/a
Exp Mavialtin Porphyry Belt 80% show
previously called Karakartal
Prod Marigold 100% show
8 million oz deposit at .5 gpt

150,000 oz production.

All-in Costs around $1100 per oz.

Purchased from Barrick in 2013.
Total Land Package Size (ha): 113,600  
Current Data
Stage Name Owned Au Ag Cu Notes
Prod Puna (Pirquitas & Chinchillas) 100% show
2017 last year production for Pirquitas open pit.

Facilities now being used to process ore from Chinchillas property.

2019 Start of production for Chinchillas open pit.

5 years of mining to 2026 including average annual production of 7.0 million ounces of silver over the first 5 years.
Prod Seabee / Santoy 8 100% show
High grade underground mine at 5.5 gpt.

1.2 million oz deposit

75,000 production

$700 cash costs
Exp Amisk 100% show
Very large property

1 million oz open pit project

There next mine. Still early stage development.
Exp Chico 100% show
Obtained 100% interest in property with Taiga Gold acquisition in December, 2021
Exp Fisher 100% show
Obtained 100% interest in property with Taiga Gold acquisition in December, 2021
Exp Leland 100% show
Early exploration
Exp Orchid 100% show
Early exploration
Exp SAM 100% show
Early exploration
Exp Sunrise Lake 100% n/a
Dev Pitarrilla 1% show
NOTE:
Sold to Endeavour Silver Corp. for US$35 million in cash, US$35 million in shares of Endeavour Silver Corp., and a 1.25% net smelter return royalty


Huge project. 15 million oz of production for 32 years.

This will likely be the mine that makes or the company a success for shareholders.

Large capex of $750 million. Production in 2016.

475 million oz deposit (Reserves!). at 3 opt.

On hold because they do not have water rights.
Exp San Marcial 1% show
Sold to GR Silver for C$2.5 million who issued 1.5 million shares to SSR Mining, and SSR granted a 0.75% net smelter return royalty
Dev San Luis 100% show
Small project, but exploration potential. Currently a 4 yr mine life. High grade.
Prod Copler 80% show
6 million oz deposit at 1.1 gpt (there share)

Currently mining open pit oxides at about 135,000 oz until 2020.
Dev Çakmaktepe 80% n/a
Exp Çöpler Saddle Shear Zone 80% n/a
Exp Copper Hill 70% n/a
Exp Mavialtin Porphyry Belt 80% show
previously called Karakartal
Prod Marigold 100% show
8 million oz deposit at .5 gpt

150,000 oz production.

All-in Costs around $1100 per oz.

Purchased from Barrick in 2013.
Total Land Package Size (ha): 113,600  

Profitability (by resource)

Proven &
Probable
10/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 9.00M 9.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -27.47M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 7.20M 7.65M n/a 0.45M
Silver Eq. Oz.: n/a n/a n/a 15.72M
Maximum Profit (Gold): $1,599.12M $5,127.80M n/a $3,528.68M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,599.12M $5,127.80M n/a $3,528.68M
Max Profit / Current MCap: 0.600 4.817 n/a 4.217
Max Profit Per Share (Gold): $7.58 $24.30 n/a $16.72
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $7.58 $24.30 n/a $16.72
Total Free Profit Per Share: $0.00 $19.26 n/a $19.26
FD MCap / Gold Eq.: $370.13 $139.15 n/a $-230.98
FD MCap / Silver Eq.: $4.26 $1.66 n/a $-2.60
FD MCap / Per Metal
as % Spot Price:
20.31% 5.87% n/a -14.44%
Measured &
Indicated
10/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 27.00M 27.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -82.40M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 18.72M 19.89M n/a 1.17M
Silver Eq. Oz.: n/a n/a n/a 40.86M
Maximum Profit (Gold): $4,157.71M $13,332.27M n/a $9,174.56M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $4,157.71M $13,332.27M n/a $9,174.56M
Max Profit / Current MCap: 1.560 12.524 n/a 10.964
Max Profit Per Share (Gold): $19.70 $63.19 n/a $43.48
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $19.70 $63.19 n/a $43.48
Total Free Profit Per Share: $7.07 $58.14 n/a $51.07
FD MCap / Gold Eq.: $142.36 $53.52 n/a $-88.84
FD MCap / Silver Eq.: $1.64 $0.64 n/a $-1.00
FD MCap / Per Metal
as % Spot Price:
7.81% 2.26% n/a -5.55%

Reserves &
Resources
10/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 37.00M 37.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -112.92M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 22.72M 24.14M n/a 1.42M
Silver Eq. Oz.: n/a n/a n/a 49.60M
Maximum Profit (Gold): $5,046.11M $16,181.04M n/a $11,134.93M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $5,046.11M $16,181.04M n/a $11,134.93M
Max Profit / Current MCap: 1.894 15.201 n/a 13.307
Max Profit Per Share (Gold): $23.92 $76.69 n/a $52.77
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $23.92 $76.69 n/a $52.77
Total Free Profit Per Share: $11.29 $71.64 n/a $60.36
FD MCap / Gold Eq.: $117.29 $44.10 n/a $-73.20
FD MCap / Silver Eq.: $1.35 $0.53 n/a $-0.82
FD MCap / Per Metal
as % Spot Price:
6.44% 1.86% n/a -4.58%

Future Valuation (Cash Flow & Totals)

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