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SSR Mining Inc

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

Description

SSR Mining Inc are a gold and silver focused major with three producing mines in Argentina, Canada and Turkey, four mines in development in Mexico, Peru and Turkey and exploration properties. Currently they produce roughly 650koz. of gold and 50.0Moz. of silver per year. They have approximately 16Moz. of gold and 133Moz. of silver in the reserves and resources category of which 13Moz. of gold and 100Moz. of silver are in the measured and indicated category. They have a market capitalisation of ~$4079.25M which is a fall of roughly 6% over the last days. As of 10/24/2020 they have ~$475M debt and ~$703M cash. They have 219M shares outstanding and trade on the NASDAQ Stock Exchange and the Toronto Stock Exchange.

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General Details

Financial 10/24/2020
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $4,326.75M $4,079.25M 10/24/2020 $-247.50M
Total Assets: $2,000.00M $2,000.00M 10/24/2020 $0.00M
Total Liabilities: $700.00M $700.00M 10/24/2020 $0.00M
Current Assets: $900.00M $900.00M 10/24/2020 $0.00M
Current Liabilities: $100.00M $100.00M 10/24/2020 $0.00M
Total Debt: $475.00M $475.00M 10/24/2020 $0.00M
Cash: $703.00M $703.00M 10/24/2020 $0.00M
Enterprise Value: $4,098.75M $3,851.25M 01/15/2092 $-247.50M
Cash Flow: $584.13M $522.67M never $-61.46M
Cash Flow Multiple: 7.41 7.80 never 0.40
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 10/24/2020 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 10/24/2020 0.00%
Misc 10/24/2020
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 219,150,000 219,150,000 10/24/2020 0
Shares (FD): 225,000,000 225,000,000 10/24/2020 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 10/24/2020 n/a
Production (Gold Eq Oz.): (guess) 
1,296,069		 (guess) 
1,271,289		 10/24/2020 -24,780
Production (Silver Eq Oz.): (guess) 
100,304,233		 (guess) 
102,310,590		 10/24/2020 2,006,357
Initial CapEx (Outstanding): n/a n/a 10/24/2020 n/a
Funding Option: n/a n/a 10/24/2020 n/a
Documentation: none PRODUCER 10/24/2020 n/a
Value Adjustment: 50% 50% never 0%

Resource Data

GOLD 10/24/2020
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 7.50M 7.50M 10/24/2020 0.00M
Measured & Indicated: 13.00M 13.00M 10/24/2020 0.00M
Inferred: 3.00M 3.00M 10/24/2020 0.00M
Reserves & Resources: 16.00M 16.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 5.63M 5.63M 10/24/2020 0.00M
Measured & Indicated: 8.93M 8.93M 10/24/2020 0.00M
Inferred: 1.13M 1.13M 10/24/2020 0.00M
Reserves & Resources: 10.05M 10.05M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
650,000oz.		 (guess) 
650,000oz.		 10/24/2020 0oz.
Cash Cost: $800 $800 10/24/2020 $0.00
Extra Operating Cost: $400 $400 10/24/2020 $0.00
Average Grade: 0.90 g/t 0.90 g/t 10/24/2020 n/a
Recovery Rate: (CG)  75.00% (CG)  75.00% 10/24/2020 0.00%
F
U
T
U
R
E		 Proven & Probable: 10.00M 10.00M 10/24/2020 0.00M
Annual Production: 700,000oz. 700,000oz. 10/24/2020 0oz.
Cash Cost: $800 $800 10/24/2020 $0
Extra Operating Cost: $400 $400 10/24/2020 $0
SILVER 10/24/2020
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 50.00M 50.00M 10/24/2020 0.00M
Measured & Indicated: 100.00M 100.00M 10/24/2020 0.00M
Inferred: 33.00M 33.00M 10/24/2020 0.00M
Reserves & Resources: 133.00M 133.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 37.50M 37.50M 10/24/2020 0.00M
Measured & Indicated: 67.50M 67.50M 10/24/2020 0.00M
Inferred: 12.38M 12.38M 10/24/2020 0.00M
Reserves & Resources: 79.88M 79.88M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
50,000,000oz.		 (guess) 
50,000,000oz.		 10/24/2020 0oz.
Cash Cost: $11 $11 10/24/2020 $0.00
Extra Operating Cost: $6 $6 10/24/2020 $0.00
Average Grade: 90.00 g/t 90.00 g/t 10/24/2020 n/a
Recovery Rate: (CG)  75.00% (CG)  75.00% 10/24/2020 0.00%
F
U
T
U
R
E		 Proven & Probable: 100.00M 100.00M 10/24/2020 0.00M
Annual Production: 7,000,000oz. 7,000,000oz. 10/24/2020 0oz.
Cash Cost: $11 $11 10/24/2020 $0
Extra Operating Cost: $7 $7 10/24/2020 $0

Property

Last Analysis Data  (10/24/2020)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Jujuy, Argentina Pirquitas 100% n/a n/a show
2017 last year production for open pit.

Potential underground production.
Production Saskatchewan, Canada Seabee / Santoy 8 100% 14,000 Underground show
High grade underground mine at 5.5 gpt.

1.2 million oz deposit

75,000 production

$700 cash costs
Exploration Saskatchewan, Canada Amisk 100% 40,000 n/a show
Very large property

1 million oz open pit project

There next mine. Still early stage development.
Exploration Watson Lake, Canada Sunrise Lake 100% n/a n/a n/a
Exploration Flin Flon, Manitoba, Canada Tartan Lake 100% n/a n/a n/a
Exploration Iquique, Chile Challacollo 100% n/a n/a n/a
Development Torreon, Mexico Pitarrilla 100% n/a n/a show
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.
Development Durango, Mexico San Agustin 100% n/a n/a show
1.5 million oz gold, and 47 million oz of silver.
Exploration Mazatlan, Mexico San Marcial 100% n/a n/a n/a
Exploration Parral, Mexico Veta Colorada 100% n/a n/a n/a
Development Peru San Luis 100% n/a n/a show
Small project, but exploration potential. Currently a 4 yr mine life. High grade.
Exploration Santa Lucia, Peru Berenguela 100% n/a n/a n/a
Production Maltya, Turkey Copler 80% n/a Both show
6 million oz deposit at 1.1 gpt (there share)

Currently mining open pit oxides at about 135,000 oz until 2020.
Development Turkey, Turkey Gediktepe 50% (guess) n/a Open Pit show
50% JV
$120 million capex.

1 million oz gold equivalent (their share)
copper, gold, silver, zinc
Exploration Tunceli, Turkey Cevizlidere 50% n/a n/a show
12 exploration projects.
Exploration Erzincan, Turkey Karakartal 50% n/a n/a n/a
Exploration Hawthorne, USA Candelaria 100% n/a n/a n/a
Exploration Nevada, USA Marigold 100% (guess) n/a n/a show
8 million oz deposit at .5 gpt

150,000 oz production.

All-in Costs around $1100 per oz.

Purchased from Barrick in 2013.
Exploration Nevada, USA Maverick Springs Silver 100% n/a n/a n/a
Total Land Package Size (ha): 54,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Jujuy, Argentina Pirquitas 100% n/a n/a show
2017 last year production for open pit.

Potential underground production.
Production Saskatchewan, Canada Seabee / Santoy 8 100% 14,000 Underground show
High grade underground mine at 5.5 gpt.

1.2 million oz deposit

75,000 production

$700 cash costs
Exploration Saskatchewan, Canada Amisk 100% 40,000 n/a show
Very large property

1 million oz open pit project

There next mine. Still early stage development.
Exploration Watson Lake, Canada Sunrise Lake 100% n/a n/a n/a
Exploration Flin Flon, Manitoba, Canada Tartan Lake 100% n/a n/a n/a
Exploration Iquique, Chile Challacollo 100% n/a n/a n/a
Development Torreon, Mexico Pitarrilla 100% n/a n/a show
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.
Development Durango, Mexico San Agustin 100% n/a n/a show
1.5 million oz gold, and 47 million oz of silver.
Exploration Mazatlan, Mexico San Marcial 100% n/a n/a n/a
Exploration Parral, Mexico Veta Colorada 100% n/a n/a n/a
Development Peru San Luis 100% n/a n/a show
Small project, but exploration potential. Currently a 4 yr mine life. High grade.
Exploration Santa Lucia, Peru Berenguela 100% n/a n/a n/a
Production Maltya, Turkey Copler 80% n/a Both show
6 million oz deposit at 1.1 gpt (there share)

Currently mining open pit oxides at about 135,000 oz until 2020.
Development Turkey, Turkey Gediktepe 50% (guess) n/a Open Pit show
50% JV
$120 million capex.

1 million oz gold equivalent (their share)
copper, gold, silver, zinc
Exploration Tunceli, Turkey Cevizlidere 50% n/a n/a show
12 exploration projects.
Exploration Erzincan, Turkey Karakartal 50% n/a n/a n/a
Exploration Hawthorne, USA Candelaria 100% n/a n/a n/a
Exploration Nevada, USA Marigold 100% (guess) n/a n/a show
8 million oz deposit at .5 gpt

150,000 oz production.

All-in Costs around $1100 per oz.

Purchased from Barrick in 2013.
Exploration Nevada, USA Maverick Springs Silver 100% n/a n/a n/a
Total Land Package Size (ha): 54,000  

Profitability (by resource)

Proven &
Probable		 10/24/2020
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 92.07% 92.35% n/a 0.28%
Percentage Silver: 7.93% 7.65% n/a -0.28%
Total (Gold Eq. Oz.): 8.15M 8.12M n/a -0.02M
Total (Silver Eq. Oz.): 630.43M 653.58M n/a 23.15M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 6.11M 6.09M n/a -0.02M
Silver Eq. Oz.: 472.83M 490.19M n/a 17.36M
Maximum Profit (Gold): $4,143.23M $3,954.23M n/a $-189.00M
Maximum Profit (Silver): $298.07M $245.31M n/a $-52.76M
Total Maximum Profit: $4,441.30M $4,199.54M n/a $-241.76M
Max Profit / Current MCap: 1.026 1.029 n/a 0.003
Max Profit Per Share (Gold): $18.41 $17.57 n/a $-0.84
Max Profit Per Share (Silver): $1.32 $1.09 n/a $-0.23
Total Max Profit Per Share: $19.74 $18.66 n/a $-1.07
Total Free Profit Per Share: $0.51 $0.53 n/a $0.03
FD Mkt. Cap / Gold Eq.: $708.19 $669.72 n/a $-38.47
FD Mkt. Cap / Silver Eq.: $9.15 $8.32 n/a $-0.83
FD Mkt. Cap / Per Metal
as % Spot Price:		 37.24% 35.82% n/a -1.42%
Measured &
Indicated		 10/24/2020
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 90.96% 91.28% n/a 0.32%
Percentage Silver: 9.04% 8.72% n/a -0.32%
Total (Gold Eq. Oz.): 14.29M 14.24M n/a -0.05M
Total (Silver Eq. Oz.): 1,106.08M 1,146.21M n/a 40.13M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 9.80M 9.76M n/a -0.03M
Silver Eq. Oz.: 758.22M 785.76M n/a 27.55M
Maximum Profit (Gold): $6,573.93M $6,274.05M n/a $-299.88M
Maximum Profit (Silver): $536.52M $441.55M n/a $-94.97M
Total Maximum Profit: $7,110.46M $6,715.60M n/a $-394.85M
Max Profit / Current MCap: 1.643 1.646 n/a 0.003
Max Profit Per Share (Gold): $29.22 $27.88 n/a $-1.33
Max Profit Per Share (Silver): $2.38 $1.96 n/a $-0.42
Total Max Profit Per Share: $31.60 $29.85 n/a $-1.75
Total Free Profit Per Share: $12.37 $11.72 n/a $-0.65
FD Mkt. Cap / Gold Eq.: $441.63 $417.80 n/a $-23.84
FD Mkt. Cap / Silver Eq.: $5.71 $5.19 n/a $-0.52
FD Mkt. Cap / Per Metal
as % Spot Price:		 23.23% 22.35% n/a -0.88%

Reserves &
Resources		 10/24/2020
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 90.30% 90.64% n/a 0.34%
Percentage Silver: 9.70% 9.36% n/a -0.34%
Total (Gold Eq. Oz.): 17.72M 17.65M n/a -0.07M
Total (Silver Eq. Oz.): 1,371.26M 1,420.65M n/a 49.39M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 11.08M 11.04M n/a -0.04M
Silver Eq. Oz.: 857.66M 888.68M n/a 31.02M
Maximum Profit (Gold): $7,402.58M $7,064.90M n/a $-337.68M
Maximum Profit (Silver): $634.89M $522.50M n/a $-112.38M
Total Maximum Profit: $8,037.47M $7,587.40M n/a $-450.06M
Max Profit / Current MCap: 1.858 1.860 n/a 0.002
Max Profit Per Share (Gold): $32.90 $31.40 n/a $-1.50
Max Profit Per Share (Silver): $2.82 $2.32 n/a $-0.50
Total Max Profit Per Share: $35.72 $33.72 n/a $-2.00
Total Free Profit Per Share: $16.49 $15.59 n/a $-0.90
FD Mkt. Cap / Gold Eq.: $390.43 $369.41 n/a $-21.01
FD Mkt. Cap / Silver Eq.: $5.04 $4.59 n/a $-0.45
FD Mkt. Cap / Per Metal
as % Spot Price:		 20.53% 19.76% n/a -0.77%

Future Valuation (Cash Flow & Totals)

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