SSR Mining Closes Q4 with Strong Operating Results, Consolidated Reserves Growth, and Major Strategic Announcement
SERLACHIUS MINING CORPORATION's (SSR) fourth quarter and full-year financial results have been released, highlighting a strong note for the company. In its conference call on February 18, 2025, SSR Mining announced a year-over-year increase to its consolidated reserves and a major strategic announcement with the acquisition of Cripple Creek & Victor mine from Newmont.
The company's Executive Chairman, Rod Antal, acknowledged that the tragic incident at Çöpler last February had left an indelible mark on everyone at SSR. However, he emphasized the hard work and dedication demonstrated by the team in 2024, particularly in recent months. Constructive discussions continue with Turkish authorities for a pathway to advance the restart of operations.
SSR Mining reported that it closed the year with solid operating results and a year-over-year increase to its consolidated reserves. The company's Consolidated 2025 cost and production guidance, including Cripple Creek & Victor mine, will be released shortly after the transaction closes in the coming weeks.
The acquisition of Cripple Creek & Victor mine is expected to increase SSR Mining's scale, free cash flow, and portfolio diversification. Since announcing the transaction in December, the company has made excellent progress on integration planning.
Looking forward, SSR Mining has several priorities and catalysts for 2025, including the delivery of a technical report and updated life-of-mine plan for Cripple Creek & Victor mine. The company aims to advance Hod Maden towards a construction decision, continue progress on an updated and extended life-of-mine plan for Puna, including potential laybacks into tiers.
SSR Mining also highlighted two significant milestones achieved in 2024: Marigold's production reaching 5 million ounces of gold, and Puna producing a record 10.5 million ounces of silver in its 15 years of life. The company expressed pride in the team behind these achievements.
The company reported that its consolidated reserves totaled 8 million gold equivalent ounces at the end of '24, excluding contributions from CC&V or Hod Maden. This was a 3% increase over '23 after mine depletion, showing success with resource development drilling. Notably, Marigold's reserves increased by 14%, driven by the declaration of a 523,000-ounce maiden reserve for Buffalo Valley.
SSR Mining also noted that metal price changes were not a material driver in this reserve growth. The company maintained its focus on advancing Çöpler towards a restart and executing its exploration strategy across the portfolio to extend mine life at each operation.
