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15.01.2019 22:10
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SSR Mining Reports Fourth Quarter and Year-End 2018 Production Results and 2019 Guidance
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PR Newswire
VANCOUVER, Jan. 15, 2019
VANCOUVER, Jan. 15, 2019 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") reports fourth quarter and year-end 2018 operating results. Additionally, we are providing 2019 guidance.
Fourth Quarter and 2018 Operating Highlights
- Achieved total annual production guidance: Produced over 345,000 gold equivalent ounces in 2018 and over 88,000 gold equivalent ounces in the fourth quarter, meeting or exceeding initial guidance for a seventh consecutive year. Delivered attributable gold equivalent production of over 335,000 ounces in 2018.
- Strong finish to the year at Marigold: Annual production of 205,160 ounces of gold in 2018, as fourth quarter gold production of 54,306 ounces led to Marigold exceeding the upper end of our revised annual guidance.
- Delivered record annual gold production at Seabee: The operation achieved the highest annual production in its history, producing 95,602 ounces of gold in 2018, exceeding the top end of the upwardly revised annual guidance.
- Strong operating performance at Seabee: In 2018, the operation milled 352,000 tonnes of ore or 964 tonnes per day, another operating record, while average gold mill feed grade was an impressive 9.16 g/t.
- Ramp-up of operations at Puna: Exceeded the upper end of the revised annual silver production guidance with a total of 3.7 million ounces. With the declaration of commercial production at the Chinchillas mine in December 2018, we produced 1.2 million ounces of silver in the fourth quarter, a 79% increase over the third quarter, as the mill averaged nearly 3,800 tonnes per day.
Paul Benson, President and CEO said, "As all three of our operations exceeded expectations and with both Marigold and Seabee at or near record annual production, we produced over 345,000 gold equivalent ounces in 2018. This marks the seventh consecutive year that we have met or exceeded our annual production guidance. In the year ahead, we are forecasting production growth to nearly 400,000 gold equivalent ounces, with Seabee and Marigold continuing to deliver to plan and Puna ramping-up to steady-state operations. Importantly, due to the exploration success across our portfolio and our strong balance sheet, we are able to invest in our assets for the long-term benefit of our shareholders, communities, and employees."
Marigold Mine, U.S.
| | | Q4 2018 | Q3 2018 | % Change 1 | FY 2018 | FY 2017 | % Change 1 |
| Total material mined | kt | 17,039 | 21,284 | (19.9%) | 70,431 | 69,011 | 2.1% |
| Waste removed | kt | 11,361 | 14,411 | (21.2%) | 42,906 | 43,422 | (1.2%) |
| Ore to leach pad | kt | 5,679 | 6,873 | (17.4%) | 27,525 | 25,589 | 7.6% |
| Strip ratio | w/o | 2.0 | 2.1 | (4.8%) | 1.6 | 1.7 | (5.9%) |
| Gold grade to leach pad | g/t | 0.34 | 0.32 | 6.3% | 0.37 | 0.35 | 5.7% |
| Gold recovery | % | 73% | 72% | 1.4% | 73% | 73% | 0.0% |
| Gold produced | oz | 54,306 | 58,459 | (7.1%) | 205,160 | 202,240 | 1.4% |
| Gold sold | oz | 50,550 | 59,612 | (15.2%) | 198,884 | 200,192 | (0.7%) |
| Notes: | |
| (1) | Percent changes are calculated using rounded numbers presented in the table. |
In 2018, the Marigold mine produced 205,160 ounces of gold, surpassing the upper end of our revised production guidance. This compares to 202,240 ounces of gold produced in 2017. For the full-year, gold sales were 198,884 ounces due to bullion inventory increasing in the fourth quarter relative to the previous quarter, which we expect to sell in the first quarter of 2019.
Material mined during the year totaled 70.4 million tonnes, a 2% increase as compared to 2017. The mine achieved record annual ore tonnes to the leach pads with over 27.5 million tonnes stacked.
During the fourth quarter of 2018, 17.0 million tonnes of material were mined, down 20% from the third quarter due to scheduled maintenance on the electric rope shovel and longer haul cycles. Construction delays deferred the new leach pad commissioning to the first quarter of 2019 and solution application commenced in January 2019.
Approximately 5.7 million tonnes of ore were delivered to the heap leach pads at a gold grade of 0.34 g/t in the fourth quarter. This compares to 6.9 million tonnes of ore delivered to the leach pads at a gold grade of 0.32 g/t in the third quarter. Gold grade mined in the fourth quarter was 6% higher than the third quarter due to mining deeper in the current phase of the Mackay pit. The strip ratio declined to 2.0:1 in the quarter, a 5% reduction compared to the previous quarter.
In the fourth quarter of 2018, Marigold produced 54,306 ounces of gold, representing a 7.1% reduction as compared to the previous quarter. Gold sales totaled 50,550 ounces for the quarter.
Seabee Gold Operation, Canada
| | | Q4 2018 | Q3 2018 | % Change 1 | FY 2018 | FY 2017 2 | % Change 1 |
| Total ore milled | t | 86,447 | 88,273 | (2.1%) | 352,000 | 330,415 | 6.5% Werbung Mehr Nachrichten zur SSR Mining Aktie kostenlos abonnieren
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