SSR Mining announces updated full year 2020 outlook following the successful completion of the merger between Alacer Gold and SSR Mining on September 16, 2020. The Company stated that it expects to produce, on a consolidated basis, 680,000 to 760,000 gold equivalent ounces from its four operating mines.
Reminding that gold production from Çöpler was 167,212 ounces through June 30, 2020, the company noted that the 2020 Çöpler production outlook is unchanged, with gold production expected to be 310,000 to 360,000 ounces.
Forecasting the Mine site AISC would be $710 to $760 per ounce. Highlighting that mine site AISC are higher than original, Alacer stated that guidance mainly due to the impact of higher gold prices on royalty costs and the announced increase to government royalty rates in Turkey in early September 2020.
Rod Antal, President and CEO commented about recent developments :“The completion of the merger between SSR Mining and Alacer has created one of the premier free cash flow generators in the sector with a number of near term, value enhancing catalysts on the horizon. Despite the COVID-19 related challenges, our full year 2020 outlook demonstrates the strength and resilience of the Company’s diversified operational base. We anticipate a strong finish to the year, particularly in the fourth quarter, as Çöpler and Marigold continue to operate and deliver uninterrupted and Seabee and Puna return to normal operations. We are currently focused on completing our integration efforts and assessing our extensive growth and development portfolio. The upcoming Çöpler technical report in the fourth quarter will be the first step in this process and will begin to define our low capital intensity growth pipeline within the Çöpler District.”
