SSR Mining ups gold equivalent production 74%, more than doubles net income in Q3

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(Kitco News) - SSR Mining (NASDAQ: SSRM)(TSX: SSRM) today reported that in Q3 2021, the company produced 186,941 goldequivalent ounces (GEO), an increase of 74% over Q3 2020 (107,556 GEO).

According to the company'sstatement, its year-to-date production of 583,316 GEO is on track withfull-year guidance, while year-to-date AISC of $990 per GEO continues to trackbelow full-year guidance.

"Given this strongperformance, AISC guidance is reduced from $1,050 - $1,110 per GEO to $1,000 -$1,040 per GEO," the company said.

Importantly, the companyadded that it generated cash flows from operating activities of $187.9 millionin the third quarter, an increase of 326% compared to Q3 2020; whereas itsthird quarter attributable net income of $57.2 million ($0.27 per share) was 114%higher than a prior year.

In addition, SSR Miningannounced that its Board of Directors declared a quarterly cash dividend ofUS$0.05 per common share, payable on December 13, 2021 to holders of record atthe close of business on November 15, 2021.

"The third quarter of2021 again demonstrated the strong operational and financial results synonymouswith SSR Mining. Operationally, we delivered records across the portfolio inthe third quarter," commented president and CEO Rod Antal.

"Our balance sheet remains akey strength, and we are well positioned to fund the multitude of low capital,high return organic growth opportunities across SSR Mining's portfolio.Combined with our quarterly base dividend, we remain on track to return nearly$200 million to shareholders this year," he added.

SSR Mining is a gold miningcompany with four producing assets located in the USA, Turkey, Canada, andArgentina, combined with a global pipeline of development and explorationassets in the USA, Turkey, Mexico, Peru, and Canada. In 2020, the company'sfour operating assets produced approximately 711,000 gold-equivalent ounces.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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