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National Post
6 days ago
- Business
- National Post
SSR Mining Reports Second Quarter 2025 Results
Article content DENVER — SSR Mining Inc. (Nasdaq/TSX: SSRM) ('SSR Mining' or the 'Company') reports consolidated financial results for the second quarter ended June 30, 2025. Article content Operating results: Second quarter 2025 production was 120,191 gold equivalent ounces at cost of sales of $1,396 per payable ounce and all-in sustaining costs ('AISC') of $2,068 per payable ounce, or $1,858 per payable ounce exclusive of costs incurred at Çöpler in the quarter. (1) Year-to-date, the Company produced 223,987 gold equivalent ounces at cost of sales of $1,357 per payable ounce and all-in-sustaining costs of $2,024 per payable ounce, or $1,807 exclusive of costs incurred at Çöpler during the year. The Company remains on track for full-year 2025 guidance of 410,000 to 480,000 gold equivalent ounces from its Marigold, CC&V, Seabee and Puna operations at consolidated cost of sales of $1,375 to $1,435 per payable ounce and AISC of $2,090 to $2,150 per payable ounce. Financial results: In the second quarter of 2025, SSR Mining reported net income attributable to SSR Mining shareholders of $90.1 million, or $0.42 per diluted share and adjusted net income attributable to SSR Mining shareholders of $110.1 million, or $0.51 per diluted share. For the second quarter of 2025, SSR Mining generated $157.8 million in operating cash flow and $98.4 million in free cash flow. Over the same period, operating cash flow and free cash flow before working capital adjustments totaled $196.0 million and $136.6 million, respectively. Cash and liquidity position: As of June 30, 2025, SSR Mining had a cash and cash equivalent balance of $412.1 million and total liquidity of $912.1 million inclusive of the Company's undrawn revolving credit facility and accompanying accordion feature. In the second quarter of 2025, SSR Mining received $44.4 million in business interruption insurance proceeds associated with the Çöpler Incident. CC&V integration: In the first full quarter of operations within the SSR Mining portfolio, CC&V produced 44,062 ounces of gold at cost of sales of $1,116 per payable ounce and AISC of $1,339 per payable ounce. The CC&V integration has continued to progress positively, with the mine generating nearly $85 million in mine site free cash flow since the close of the acquisition. CC&V remains on track for full-year guidance metrics, and a technical report for CC&V based on existing Mineral Reserves remains on track for publication in 2025. Çöpler update: The Company continues to work closely with the relevant authorities in Türkiye to advance the restart of the Çöpler mine, including progressing various engineering plans and design documents. During the second quarter of 2025, the Company recorded an increase to the reclamation and remediation costs associated with the Çöpler incident. The revised estimate reflects an increase of $12.9 million above the previously disclosed estimated reclamation and remediation cost range of $250 to $300 million provided in the first quarter of 2024. The revision in estimate reflects the Company's advancement of the engineering and construction design of the East Storage Facility and the advancement of the studies for the permanent closure of the heap leach pad. While SSR Mining remains confident and committed to restarting operations, at this time, the Company is not able to estimate or predict when and under what conditions operations will resume at Çöpler. Puna mine life extension: SSR Mining has continued to advance opportunities to extend the Puna mine life, including pit laybacks at the Chinchillas pit, processing of stockpiles, and advancing exploration and engineering work at Cortaderas. Based on the work currently completed at Chinchillas, SSR Mining expects that 2026 silver production at Puna will be between 7 and 8 million ounces, an increase against the 2023 Puna Technical Report Summary ('TRS'). Production in 2027 and 2028 is expected to average approximately 4 million ounces of silver. The Company will continue to evaluate opportunities to extend the mine life at Puna, including advancing studies on the Cortaderas deposit. Development & exploration: During the second quarter of 2025, $16.2 million was spent at Hod Maden as engineering and initial site establishment efforts continued to progress, bringing year-to-date spend to $29.1 million at the project. Additionally, SSR Mining continued to advance exploration and development activities across its portfolio in the quarter. Article content Rod Antal, Executive Chairman of SSR Mining, said, 'The second quarter of 2025 was another period of strong operational performance. Pleasingly, CC&V delivered well against expectations in its first full quarter in our portfolio, and the mine has now generated approximately $85 million in asset-level free cash flow in the four months since its acquisition, a remarkable outcome. With an updated technical report for CC&V also expected this year, we are excited to provide our initial view of the longer-term potential of the asset and further demonstrate the benefits of this accretive transaction. Article content In Türkiye, initial development activities continued at Hod Maden, while efforts at Çöpler remain focused on advancing requirements towards a restart. Article content Lastly, through our continued drive to deliver organic growth across the portfolio, we are pleased to announce the near-term extension of operations at Puna. This update provides a meaningful improvement over Puna's prior life of mine plan, and we view this extension as a first step in highlighting the continued and future upside at the asset through further development at Chinchillas and at Cortaderas.' Article content A summary of the Company's consolidated financial and operating results for the three and six months ended June 30, 2025 and June 30, 2024 are presented below: Article content (in thousands, except per share data or otherwise stated) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Financial Results Revenue $ 405,455 $ 184,841 $ 722,073 $ 415,075 Cost of sales $ 162,948 $ 96,582 $ 299,589 $ 222,483 Operating income (loss) $ 108,885 $ 10,720 $ 175,776 $ (365,704) Net income (loss) $ 80,362 $ 2,464 $ 134,808 $ (355,698) Net income (loss) attributable to SSR Mining shareholders $ 90,075 $ 9,693 $ 148,856 $ (277,389) Basic net income (loss) per share attributable to SSR Mining shareholders $ 0.44 $ 0.05 $ 0.73 $ (1.37) Diluted net income (loss) per share attributable to SSR Mining shareholders $ 0.42 $ 0.05 $ 0.70 $ (1.37) Adjusted net income attributable to SSR Mining shareholders (1) $ 110,074 $ 7,489 $ 171,647 $ 29,999 Basic adjusted net income per share attributable to SSR Mining shareholders (1) $ 0.54 $ 0.04 $ 0.85 $ 0.15 Diluted adjusted net income per share attributable to SSR Mining shareholders (1) $ 0.51 $ 0.04 $ 0.80 $ 0.15 Cash provided by operating activities before changes in working capital (1) $ 196,016 $ (23,102) $ 300,970 $ 8,962 Cash provided by operating activities $ 157,841 $ (78,132) $ 242,646 $ (53,501) Cash used in investing activities $ (68,503) $ (31,684) $ (222,753) $ (68,462) Cash provided by (used in) financing activities $ 7,856 $ 1,488 $ 10,531 $ (9,332) Operating Results Gold produced (oz) 90,966 42,400 166,835 122,680 Gold sold (oz) 90,739 40,470 168,447 129,749 Silver produced ('000 oz) 2,849 2,731 5,354 4,646 Silver sold ('000 oz) 2,534 2,489 4,909 4,148 Lead produced ('000 lb) (2) 13,877 13,291 25,365 23,289 Lead sold ('000 lb) (2) 12,058 12,385 24,111 21,050 Zinc produced ('000 lb) (2) 1,125 859 1,883 2,076 Zinc sold ('000 lb) (2) 1,279 1,419 1,541 1,929 Gold equivalent produced (oz) (3) 120,191 76,102 223,987 177,691 Gold equivalent sold (oz) (3) 116,736 71,190 220,843 178,864 Average realized gold price ($/oz sold) $ 3,336 $ 2,378 $ 3,151 $ 2,160 Average realized silver price ($/oz sold) $ 35.24 $ 30.22 $ 33.90 $ 27.01 Cost of sales per gold equivalent ounce sold (3) $ 1,396 $ 1,357 $ 1,357 $ 1,244 Cash cost per gold equivalent ounce sold (1,3) $ 1,282 $ 1,192 $ 1,247 $ 1,137 AISC per gold equivalent ounce sold (1,3) $ 2,068 $ 2,116 $ 2,024 $ 1,789 Financial Position June 30, 2025 December 31, 2024 Cash and cash equivalents $ 412,104 $ 387,882 Current assets $ 1,147,390 $ 1,029,034 Total assets $ 5,795,877 $ 5,189,020 Current liabilities $ 480,832 $ 218,877 Total liabilities $ 1,710,266 $ 1,242,159 Working capital (4) $ 666,558 $ 810,157 Article content (1) The Company reports non-GAAP financial measures including adjusted net income attributable to SSR Mining shareholders, adjusted net income per share attributable to SSR Mining shareholders, cash provided by operating activities before changes in working capital, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. Cost of sales excludes depreciation, depletion, and amortization. AISC includes the cash component of care and maintenance costs. See 'Non-GAAP Financial Measures' at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to net income (loss), cost of sales, and cash generated by operating activities, which are the most comparable GAAP financial measures. (2) Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate. (3) Gold equivalent ounces ('GEOs') are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average London Bullion Market Association ('LBMA') prices for the period. The Company does not include by-products in the GEO calculations. (4) Working capital is defined as current assets less current liabilities. Article content Marigold, USA Article content (5) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Marigold. See 'Cautionary Note Regarding Non-GAAP Financial Measures' at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Article content For the three months ended June 30, 2025 and 2024, Marigold produced 35,906 and 25,691 ounces of gold, respectively. For the six months ended June 30, 2025 and 2024, Marigold produced 74,492 and 60,371 ounces of gold, respectively. During the second quarter of 2025, Marigold reported cost of sales of $1,584 per payable ounce and AISC of $1,977 per payable ounce. Article content Full-year 2025 production guidance for Marigold is 160,000 to 190,000 ounces of gold at mine site cost of sales of $1,530 to $1,570 per payable ounce and AISC of $1,800 to $1,840 per payable ounce. For the remainder of the year, Marigold's production is expected to be approximately 55-60% weighted to the fourth quarter. Article content (For the six months ended June 30, 2025, all metrics represent the period from February 28, 2025 to June 30, 2025, the period for which the Company was entitled to the economic benefits of CC&V following the acquisition) Article content Three Months Ended June 30, Six Months Ended June 30, Operating Data 2025 2024 2025 2024 Gold produced (oz) 44,062 — 55,344 — Gold sold (oz) 44,800 — 56,100 — Ore mined (kt) 3,441 — 5,265 — Waste removed (kt) 4,880 — 6,451 — Total material mined (kt) 8,321 — 11,716 — Strip ratio 1.4 — 1.2 — Ore stacked (kt) 3,519 — 5,378 — Gold grade stacked (g/t) 0.50 — 0.45 — Average realized gold price ($/oz sold) $ 3,336 — $ 3,282 — Cost of sales ($/oz gold sold) $ 1,116 N/A $ 1,212 N/A Cash costs ($/oz gold sold) (6) $ 1,105 N/A $ 1,199 N/A AISC ($/oz gold sold) (6) $ 1,339 N/A $ 1,427 N/A Article content (6) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at CC&V. See 'Cautionary Note Regarding Non-GAAP Financial Measures' at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Article content For the three months ended June 30, 2025, CC&V produced 44,062 ounces of gold. Reflecting the closing of the CC&V acquisition during the first quarter of 2025, CC&V produced 55,344 for the period from February 28, 2025 and June 30, 2025. Inclusive of the 28,000 ounces of gold produced in the first two months of 2025, first half production from CC&V totaled 83,344 ounces of gold. During the second quarter of 2025, CC&V reported cost of sales of $1,116 per payable ounce and AISC of $1,339 per payable ounce. Article content For the period of February 28, 2025 to December 31, 2025, production guidance for CC&V is 90,000 to 110,000 ounces of gold at mine site cost of sales of $1,470 to $1,510 per payable ounce and AISC of $1,800 to $1,840 per payable ounce. For the remainder of the year, CC&V's production is expected to be evenly weighted between the third and fourth quarters. Sustaining capital in the second half of 2025 is expected to be 75% weighted to the third quarter, with AISC expected to peak in the third quarter accordingly. A technical report for CC&V based on existing Mineral Reserves remains on track for publication in 2025. Article content Three Months Ended June 30, Six Months Ended June 30, Operating Data 2025 2024 2025 2024 Gold produced (oz) 10,998 16,709 36,999 40,482 Gold sold (oz) 10,350 15,020 36,350 43,470 Ore mined (kt) 66 115 148 219 Ore milled (kt) 68 103 158 218 Gold mill feed grade (g/t) 5.22 5.40 7.38 5.99 Gold recovery (%) 96.6 95.5 97.0 96.0 Average realized gold price ($/oz sold) $ 3,335 $ 2,355 $ 3,048 $ 2,169 Cost of sales ($/oz gold sold) $ 1,785 $ 1,150 $ 1,145 $ 959 Cash costs ($/oz gold sold) (7) $ 1,786 $ 1,152 $ 1,145 $ 960 AISC ($/oz gold sold) (7) $ 2,708 $ 1,626 $ 1,754 $ 1,488 Article content (7) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Seabee. See 'Cautionary Note Regarding Non-GAAP Financial Measures' at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Article content For the three months ended June 30, 2025 and 2024, Seabee produced 10,998 and 16,709 ounces of gold, respectively. For the six months ended June 30, 2025 and 2024, Seabee produced 36,999 and 40,482 ounces of gold, respectively. During the second quarter of 2025, Seabee reported cost of sales of $1,785 per payable ounce and AISC of $2,708 per payable ounce. Article content Production during the second quarter of 2025 was impacted by power interruptions caused by forest fires to the north of the mine. The power supply to the site was restored on June 13, 2025, and there was no damage to the site as a result of the fires. In support of the emergency recovery and relief efforts for communities impacted by this year's forest fires across northern Saskatchewan & Manitoba, SSR Mining made a donation to the Canadian Red Cross. This donation was matched by the Government of Canada through a program designed to maximize the impact of support to those affected by the fires. Article content Due to the suspension of operations in the second quarter and a concerted effort to prioritize underground mine development over the remainder of the year, full-year 2025 production at Seabee is targeted at the low end of the mine's previously issued production guidance of 70,000 to 80,000 ounces of gold. Article content (8) GEOs are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include by-products in the GEO calculations. (9) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of silver sold to manage and evaluate operating performance at Puna. See 'Cautionary Note Regarding Non-GAAP Financial Measures' at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Article content For the three months ended June 30, 2025 and 2024, Puna produced 2.8 and 2.7 million ounces of silver, respectively. For the six months ended June 30, 2025 and 2024, Puna produced 5.4 and 4.6 million ounces of silver, respectively. During the second quarter of 2025, Puna reported cost of sales of $15.03 per payable ounce and AISC of $12.57 per payable ounce. Article content Full-year 2025 production guidance at Puna is 8.00 to 8.75 million ounces at cost of sales of $12.50 to $14.00 per payable ounce of silver and AISC of $14.25 to $15.75 per payable ounce of silver. Puna's production over the remainder of 2025 is expected to be approximately 55% weighted to the third quarter. Article content SSR Mining has continued to advance opportunities to extend the Puna mine life, including pit laybacks at the Chinchillas pit, processing of stockpiles, and advancing exploration and engineering work at Cortaderas. Based on the work currently completed at Chinchillas, SSR Mining expects that 2026 silver production at Puna will be between 7 and 8 million ounces, an increase against the 2023 Puna TRS. Production in 2027 and 2028 is expected to average approximately 4 million ounces of silver. The Company will continue to evaluate opportunities to extend mine, including advancing studies on the Cortaderas deposit. Article content Operations at Çöpler were suspended following the February 13, 2024 incident at the Çöpler mine (the 'Çöpler Incident'). During the suspension, care and maintenance expense has been recorded which represents depreciation and direct costs not associated with the environmental reclamation and remediation costs. Article content Three Months Ended | June 30, Six Months Ended June 30, Operating Data 2025 2024 2025 2024 Gold produced (oz) — — — 21,827 Gold sold (oz) — — — 23,960 Ore mined (kt) — — — 266 Waste removed (kt) — — — 3,571 Total material mined (kt) — — — 3,837 Strip ratio — — — 13.4 Ore stacked (kt) — — — 184 Gold grade stacked (g/t) — — — 1.17 Average realized gold price ($/oz sold) — — — $ 2,013 Cost of sales ($/oz gold sold) N/A N/A N/A $ 1,019 Cash costs ($/oz gold sold) (10) N/A N/A N/A $ 1,020 AISC ($/oz gold sold) (10) N/A N/A N/A $ 2,507 Article content (10) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Çöpler. See 'Cautionary Note Regarding Non-GAAP Financial Measures' at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Article content The Company continues to work closely with the relevant authorities in Türkiye to advance the restart of the Çöpler mine, including progressing various engineering plans and design documents. Article content During the second quarter of 2025, the Company recorded an adjustment of reclamation and remediation costs associated with the Çöpler incident of $62.9 million, comprised of $9.4 million related to reclamation costs and $53.5 million related to remediation costs. The revised estimate is now $312.9 million, an increase of $12.9 million above the previously disclosed estimated reclamation and remediation cost range of $250.0 to $300.0 million. The revised estimate reflects the Company's advancement of the engineering and construction design of the permanent storage facility and the advancement of the studies for the permanent closure of the heap leach pad. As part of the heap leach pad closure planning, the Company will conduct further field investigations to confirm the integrity of the heap leach pad liner. This will entail exposing and inspecting sections of the heap leach pad liner. Following completion of the liner inspection, the Company will use the findings to refine and update the closure plan for the heap leach pad. These studies and inspections may result in revisions to the scope of work, estimated costs, and overall timelines related to the heap leach pad closure. Article content While SSR Mining remains confident and committed to restarting operations, at this time, the Company is not able to estimate or predict when and under what conditions operations will resume at Çöpler. For additional information on the Çöpler Incident, including a discussion of the associated risks, see the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed on February 18, 2025, and the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, filed on May 6, 2025, and June 30, 2025, filed on August 5, 2025. Article content Conference Call Information Article content This news release should be read in conjunction with the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the U.S. Securities and Exchange Commission (the 'SEC') and available on the SEC website at or Article content About SSR Mining Article content SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX. Article content Cautionary Note Regarding Forward-Looking Information and Statements: Article content Except for statements of historical fact relating to us, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively 'forward-looking information') within the meaning of applicable securities laws. Forward-looking information may be contained in this document and our other public filings. Forward-looking information relates to statements concerning our outlook and anticipated events or results and in some cases, can be identified by terminology such as 'may', 'will', 'could', 'should', 'expect', 'plan', 'anticipate', 'believe', 'intend', 'estimate', 'projects', 'predict', 'potential', 'continue' or other similar expressions concerning matters that are not historical facts. Article content Forward-looking information and statements in this news release are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include, but are not limited to: local and global political and economic conditions; governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; developments with respect to global pandemics, including the duration, severity and scope of a pandemic and potential impacts on mining operations; risks and uncertainties resulting from the incident at Çöpler described in our Annual Report on Form 10-K for the year ended December 31, 2024; and other risk factors detailed from time to time in our reports filed with the Securities and Exchange Commission on EDGAR and the Canadian securities regulatory authorities on SEDAR. Article content Forward-looking information and statements in this news release include any statements concerning, among other things: all information related to the Company's Çöpler operations, including timelines, outlook, preliminary costs, remediation plans, and possible restart plans; forecasts and outlook; preliminary cost reporting in this document; timing, production, operating, cost, and capital expenditure guidance; our operational and development targets and catalysts and the impact of any suspensions on operations; the results of any gold reconciliations; the ability to discover additional oxide gold ore; the generation of free cash flow and payment of dividends; matters relating to proposed exploration; communications with local stakeholders; maintaining community and government relations; negotiations of joint ventures; negotiation and completion of transactions; commodity prices; Mineral Resources, Mineral Reserves, conversion of Mineral Resources, realization of Mineral Reserves, and the existence or realization of Mineral Resource estimates; the development approach; the timing and amount of future production; the timing of studies, announcements, and analysis; the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans; receipt of regulatory approvals; timing and impact surrounding suspension or interruption of operations as a result of regulatory requirements or actions by governmental authority; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions. Article content Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of our filings on EDGAR and SEDAR, and include: the assumptions made in respect of the Company's Çöpler operations; the inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders; maintaining community and governmental relations; status of negotiations of joint ventures; weather conditions at our operations; commodity prices; the ultimate determination of and realization of Mineral Reserves; existence or realization of Mineral Resources; the development approach; availability and receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize, and execute relevant agreements; the Company's ability to efficiently integrate acquired mines and businesses and to manage the costs related to any such integration, or to retain key technical, professional or management personnel; lack of social opposition to our mines or facilities; lack of legal challenges with respect to our properties; the timing and amount of future production; the ability to meet production, cost, and capital expenditure targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process, and sell mineral products on economically favorable terms; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, geopolitical, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Article content The above list is not exhaustive of the factors that may affect any of the Company's forward-looking information. You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons including, but not limited to, risks and uncertainties disclosed in our filings on our website at on SEDAR at and on EDGAR at and other unforeseen events or circumstances. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information to reflect, among other things, new information or future events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Article content Cautionary Note Regarding Non-GAAP Measures Article content We have included certain non-GAAP performance measures throughout this document. These performance measures are employed by us to measure our operating and economic performance internally and to assist in decision-making, as well as to provide key performance information to senior management. We believe that, in addition to conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use this information to evaluate our operating and financial performance; however, these non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definitions of our non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. These non-GAAP measures should be read in conjunction with our condensed consolidated interim financial statements. Article content Cash costs, AISC per ounce sold, and free cash flow are Non-GAAP Measures with no standardized definition under U.S. GAAP. Article content Net cash (debt) are used by management and investors to measure the Company's underlying operating performance. The Company believes that net cash (debt) is a useful measure for shareholders as it helps evaluate liquidity and available cash. Article content The following table provides a reconciliation of cash and cash equivalents to net cash: Article content In addition to net cash and net debt, the Company also uses Total liquidity to measure its financial position. Total liquidity is calculated as Cash and cash equivalents plus Restricted cash and borrowing capacity under current revolving credit facilities, including accordion features. As of June 30, 2025, no borrowings were outstanding on the Company's $400 million credit facility with a $100 million accordion feature. Article content The following table provides a reconciliation of Cash and cash equivalents to Total liquidity: Article content Non-GAAP Measure – Cash Costs and AISC Article content Cash Costs and All-In Sustaining Costs ('AISC') per payable ounce of gold and respective unit cost measures are non-U.S. GAAP metrics developed by the World Gold Council to provide transparency into the costs associated with producing gold and provide a standard for comparison across the industry. The World Gold Council is a market development organization for the gold industry. Article content The Company uses cash costs per ounce of precious metals sold and AISC per ounce of precious metals to monitor its operating performance internally. The most directly comparable measure prepared in accordance with GAAP is cost of sales. The Company believes this measure provides investors and analysts with useful information about its underlying cash costs of operations and the impact of byproduct credits on its cost structure. The Company also believes it is a relevant metric used to understand its operating profitability. When deriving the cost of sales associated with an ounce of precious metal, the Company includes by-product credits, which allows management and other stakeholders to assess the net costs of gold and silver production. Article content AISC includes total cost of sales incurred at the Company's mining operations, which forms the basis of cash costs. Additionally, the Company includes sustaining capital expenditures, sustaining mine-site exploration and evaluation costs, reclamation cost accretion and amortization, and general and administrative expenses. This measure seeks to reflect the ongoing cost of gold and silver production from current operations; therefore, growth capital is excluded. The Company determines sustaining capital to be capital expenditures that are necessary to maintain current production and execute the current mine plan. The Company determines growth capital to be those payments used to develop new operations or related to projects at existing operations where those projects will materially benefit the operation. Article content The Company believes that AISC provides additional information to management and stakeholders that provides visibility to better define the total costs associated with production and better understanding of the economics of the Company's operations and performance compared to other producers. In deriving the number of ounces of precious metal sold, the Company considers the physical ounces available for sale after the treatment and refining process, commonly referred to as payable metal, as this is what is sold to third parties. Article content The following tables provide a reconciliation of cost of sales to cash costs and AISC used in the calculation of 2025 cost guidance: Article content Gold Production koz 160 – 190 90 – 110 70 – 80 — — 320 – 380 — 320 – 380 Silver Production Moz — — — 8.00 – 8.75 — 8.00 – 8.75 — 8.00 – 8.75 Gold Equivalent Production koz 160 – 190 90 – 110 70 – 80 90 – 100 — 410 – 480 — 410 – 480 Gold Sold koz 160 – 190 90 – 110 70 – 80 — — 320 – 380 — 320 – 380 Silver Sold Moz — — — 8.00 – 8.75 — 8.00 – 8.75 — 8.00 – 8.75 Gold Equivalent Sold koz 160 – 190 90 – 110 70 – 80 90 – 100 — 410 – 480 — 410 – 480 Cost of Sales (GAAP) $M 245 – 298 132 – 166 86 – 102 100 – 123 — 563 – 689 — 563 – 689 By-Product Credits + Treatment & Refining Costs $M — (1) — (8) — (10) — (10) Cash Cost (non-GAAP) (14) $M 245 – 298 131 – 165 86 – 102 92 – 114 — 554 – 679 — 554 – 679 Sustaining Capital Expenditures (15) $M 45 27 32 15 — 119 — 119 Reclamation Cost Accretion & Amortization $M 3 9 3 9 — 24 — 24 General & Administrative $M — — — — 60 – 65 60 – 65 — 60 – 65 Share-Based Compensation (16) $M — — — — 30 – 35 30 – 35 — 30 – 35 Care & Maintenance (17) $M — — — — — — 80 – 100 80 – 100 All-In Sustaining Cost (non-GAAP) (14) $M 293 – 346 166 – 201 121 – 137 115 – 138 90 – 100 786 – 921 80 – 100 866 – 1,021 Cost of Sales per Ounce (GAAP) $/oz 1,530 – 1,570 1,470 – 1,510 1,230 – 1,270 12.50 – 14.00 — 1,375 – 1,435 — 1,375 – 1,435 Cash Cost per Ounce (non-GAAP) (14) $/oz 1,530 – 1,570 1,460 – 1,500 1,230 – 1,270 11.35 – 12.85 — 1,350 – 1,410 — 1,350 – 1,410 All-In Sustaining Cost per Ounce (non-GAAP) (14) $/oz 1,800 – 1,840 1,800 – 1,840 1,710 – 1,750 14.25 – 15.75 — 1,890 – 1,950 — 2,090 – 2,150 Article content (12) Figures may not add due to rounding. (13) CC&V figures are presented as of February 28, 2025 onwards to account for attributable production to SSR Mining following the close of the CC&V transaction. Prior to the closing of the acquisition, CC&V produced 28,000 ounces of gold. For the full year, inclusive of ounces produced under Newmont's ownership, CC&V is expected to produce between 118,000 and 138,000 ounces of gold. (14) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at its mines. AISC includes reclamation cost accretion and amortization and certain lease payments. Total AISC includes G&A costs and share-based compensation, but excludes any care & maintenance costs incurred at Çöpler. Consolidated AISC reflects cash care & maintenance costs of approximately $20 – $25 million per quarter incurred at Çöpler until the mine is restarted. (15) Refer to '2025 Capital Guidance' table within our press release dated March 31, 2025 for a breakdown of sustaining exploration and evaluation expenditures. No material capital expenditures are expected at Çöpler until the mine is restarted. (16) Share-based compensation guidance uses a reference price of approximately US$15 per share. (17) Reflects the cash component of care & maintenance expenses that would be incurred at Çöpler in the event the operation did not restart within 2025. SSR Mining continues to work closely with the relevant authorities in Türkiye to advance the restart of the Çöpler mine, but at this time the Company is not able to estimate or predict when and under what conditions operations will resume. Article content Three Months Ended June 30, 2025 By-product credits $ (33) $ (501) $ (15) $ (12,146) $ — $ (12,695) $ — $ (12,695) Treatment and refining charges $ 92 $ — $ 23 $ (669) $ — $ (554) $ — $ (554) Cash costs (non-GAAP) $ 56,435 $ 49,502 $ 18,481 $ 25,281 $ — $ 149,699 $ — $ 149,699 Sustaining capital and lease related expenditures $ 11,770 $ 6,656 $ 8,762 $ 4,023 $ — $ 31,211 $ 2,368 $ 33,579 Sustaining exploration and evaluation expense $ 1,447 $ — $ — $ — $ — $ 1,447 $ — $ 1,447 Care and maintenance (19) $ — $ — $ 234 $ — $ — $ 234 $ 21,802 $ 22,036 Reclamation cost accretion and amortization $ 691 $ 3,838 $ 555 $ 2,545 $ — $ 7,629 $ 423 $ 8,052 General and administrative expense and stock-based compensation expense (20) $ — $ — $ — $ — $ 26,634 $ 26,634 $ — $ 26,634 Total AISC (non-GAAP) $ 70,343 $ 59,996 $ 28,032 $ 31,849 $ 26,634 $ 216,854 $ 24,593 $ 241,447 Gold sold (oz) 35,589 44,800 10,350 — — 90,739 — 90,739 Silver sold (oz) — — — 2,534,393 — 2,534,393 — 2,534,393 Gold equivalent sold (oz) (21) 35,589 44,800 10,350 25,997 — 116,736 — 116,736 Cost of sales per gold ounces sold $ 1,584 $ 1,116 $ 1,785 N/A N/A N/A N/A N/A Cost of sales per silver ounces sold N/A N/A N/A $ 15.03 N/A N/A N/A N/A Cost of sales per gold equivalent ounce sold $ 1,584 $ 1,116 $ 1,785 $ 1,465 N/A $ 1,396 N/A $ 1,396 Cash cost per gold ounce sold $ 1,586 $ 1,105 $ 1,786 N/A N/A N/A N/A N/A Cash cost per silver ounce sold N/A N/A N/A $ 9.98 N/A N/A N/A N/A Cash cost per gold equivalent ounce sold $ 1,586 $ 1,105 $ 1,786 $ 972 N/A $ 1,282 N/A $ 1,282 AISC per gold ounce sold $ 1,977 $ 1,339 $ 2,708 N/A N/A N/A N/A N/A AISC per silver ounce sold N/A N/A N/A $ 12.57 N/A N/A N/A N/A AISC per gold equivalent ounce sold $ 1,977 $ 1,339 $ 2,708 $ 1,225 N/A $ 1,858 N/A $ 2,068 Article content Three Months Ended June 30, 2024 Marigold CC&V Seabee Puna Corporate Total Çöpler Consolidated Cost of sales (GAAP) (18) $ 39,237 N/A $ 17,275 $ 40,070 $ — $ 96,582 $ — $ 96,582 By-product credits $ (61) N/A $ (14) $ (13,783) $ — $ (13,858) $ — $ (13,858) Treatment and refining charges $ 74 N/A $ 45 $ 2,038 $ — $ 2,157 $ — $ 2,157 Cash costs (non-GAAP) $ 39,250 N/A $ 17,306 $ 28,325 $ — $ 84,881 $ — $ 84,881 Sustaining capital and lease related expenditures $ 12,432 N/A $ 6,201 $ 3,550 $ — $ 22,183 $ 4,602 $ 26,785 Sustaining exploration and evaluation expense $ 274 N/A $ — $ — $ — $ 274 $ — $ 274 Care and maintenance (19) $ — N/A $ — $ — $ — $ — $ 17,283 $ 17,283 Reclamation cost accretion and amortization $ 605 N/A $ 922 $ 5,926 $ — $ 7,453 $ 493 $ 7,946 General and administrative expense and stock-based compensation expense (20) $ — N/A $ — $ — $ 13,452 $ 13,452 $ — $ 13,452 Total AISC (non-GAAP) $ 52,561 N/A $ 24,429 $ 37,801 $ 13,452 $ 128,243 $ 22,378 $ 150,621 Gold sold (oz) 25,450 N/A 15,020 — — 40,470 — 40,470 Silver sold (oz) — N/A — 2,489,064 — 2,489,064 — 2,489,064 Gold equivalent sold (oz) (21) 25,450 N/A 15,020 30,720 — 71,190 — 71,190 Cost of sales per gold ounces sold $ 1,542 N/A $ 1,150 N/A N/A N/A N/A N/A Cost of sales per silver ounces sold N/A N/A N/A $ 16.10 N/A N/A N/A N/A Cost of sales per gold equivalent ounce sold $ 1,542 N/A $ 1,150 $ 1,304 N/A $ 1,357 N/A $ 1,357 Cash cost per gold ounce sold $ 1,542 N/A $ 1,152 N/A N/A N/A N/A N/A Cash cost per silver ounce sold N/A N/A N/A $ 11.38 N/A N/A N/A N/A Cash cost per gold equivalent ounce sold $ 1,542 N/A $ 1,152 $ 922 N/A $ 1,192 N/A $ 1,192 AISC per gold ounce sold $ 2,065 N/A $ 1,626 N/A N/A N/A N/A N/A AISC per silver ounce sold N/A N/A N/A $ 15.19 N/A N/A N/A N/A AISC per gold equivalent ounce sold $ 2,065 N/A $ 1,626 $ 1,231 N/A $ 1,801 N/A $ 2,116 Article content (18) Excludes depreciation, depletion, and amortization. (19) Care and maintenance expense only includes direct costs not associated with environmental reclamation and remediation costs, as depreciation is not included in the calculation of AISC. (20) General and administrative expense for the three months ended June 30, 2025 included $6.4 million in share based compensation expense. (21) GEOs are calculated using the silver ounces sold multiplied by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include copper, lead, or zinc as they are considered by-products. GEOs sold may not re-calculate based on amounts presented in this table due to rounding. Article content Six Months Ended June 30, 2025 Cost of sales (GAAP) (23) $ 115,102 $ 67,968 $ 41,604 $ 74,915 $ — $ 299,589 $ — $ 299,589 By-product credits $ (71) $ (714) $ (40) $ (23,255) $ — $ (24,080) $ — $ (24,080) Treatment and refining charges $ 158 $ 5 $ 66 $ (344) $ — $ (115) $ — $ (115) Cash costs (non-GAAP) $ 115,189 $ 67,259 $ 41,630 $ 51,316 $ — $ 275,394 $ — $ 275,394 Sustaining capital and lease related expenditures $ 23,439 $ 7,667 $ 20,510 $ 5,977 $ — $ 57,593 $ 4,621 $ 62,214 Sustaining exploration and evaluation expense $ 1,674 $ — $ — $ — $ — $ 1,674 $ — $ 1,674 Care and maintenance (24) $ — $ — $ 234 $ — $ — $ 234 $ 42,358 $ 42,592 Reclamation cost accretion and amortization $ 1,363 $ 5,117 $ 1,388 $ 5,804 $ — $ 13,672 $ 845 $ 14,517 General and administrative expense and stock-based compensation expense (25) $ — $ — $ — $ — $ 50,529 $ 50,529 $ — $ 50,529 Total AISC (non-GAAP) $ 141,665 $ 80,043 $ 63,762 $ 63,097 $ 50,529 $ 399,096 $ 47,824 $ 446,920 Gold sold (oz) 75,997 56,100 36,350 — — 168,447 — 168,447 Silver sold (oz) — — — 4,908,738 — 4,908,738 — 4,908,738 Gold equivalent sold (oz) (26) 75,997 56,100 36,350 52,396 — 220,843 — 220,843 Cost of sales per gold ounces sold $ 1,515 $ 1,212 $ 1,145 N/A N/A N/A N/A N/A Cost of sales per silver ounces sold N/A N/A N/A $ 15.26 N/A N/A N/A N/A Cost of sales per gold equivalent ounce sold $ 1,515 $ 1,212 $ 1,145 $ 1,430 N/A $ 1,357 N/A $ 1,357 Cash cost per gold ounce sold $ 1,516 $ 1,199 $ 1,145 N/A N/A N/A N/A N/A Cash cost per silver ounce sold N/A N/A N/A $ 10.45 N/A N/A N/A N/A Cash cost per gold equivalent ounce sold $ 1,516 $ 1,199 $ 1,145 $ 979 N/A $ 1,247 N/A $ 1,247 AISC per gold ounce sold $ 1,864 $ 1,427 $ 1,754 N/A N/A N/A N/A N/A AISC per silver ounce sold N/A N/A N/A $ 12.85 N/A N/A N/A N/A AISC per gold equivalent ounce sold $ 1,864 $ 1,427 $ 1,754 $ 1,204 N/A $ 1,807 N/A $ 2,024 Article content Six Months Ended June 30, 2024 Marigold CC&V Seabee Puna Corporate Total Çöpler Consolidated Cost of sales (GAAP) (23) $ 88,308 N/A $ 41,708 $ 68,044 $ — $ 198,060 $ 24,423 $ 222,483 By-product credits $ (62) N/A $ (39) $ (22,848) $ — $ (22,949) $ (345) $ (23,294) Treatment and refining charges $ 147 N/A $ 80 $ 3,520 $ — $ 3,747 $ 351 $ 4,098 Cash costs (non-GAAP) $ 88,393 N/A $ 41,749 $ 48,716 $ — $ 178,858 $ 24,429 $ 203,287 Sustaining capital and lease related expenditures $ 14,737 N/A $ 21,106 $ 6,909 $ — $ 42,752 $ 9,689 $ 52,441 Sustaining exploration and evaluation expense $ 628 N/A $ — $ — $ — $ 628 $ — $ 628 Care and maintenance (24) $ — N/A $ — $ — $ — $ — $ 24,961 $ 24,961 Reclamation cost accretion and amortization $ 1,540 N/A $ 1,849 $ 8,075 $ — $ 11,464 $ 978 $ 12,442 General and administrative expense and stock-based compensation expense (25) $ — N/A $ — $ — $ 26,312 $ 26,312 $ — $ 26,312 Total AISC (non-GAAP) $ 105,298 N/A $ 64,704 $ 63,700 $ 26,312 $ 260,014 $ 60,057 $ 320,071 Gold sold (oz) 62,319 N/A 43,470 — — 105,789 23,960 129,749 Silver sold (oz) — N/A — 4,147,685 — 4,147,685 — 4,147,685 Gold equivalent sold (oz) (26) 62,319 N/A 43,470 49,115 — 154,904 23,960 178,864 Cost of sales per gold ounces sold $ 1,417 N/A $ 959 N/A N/A N/A $ 1,019 N/A Cost of sales per silver ounces sold N/A N/A N/A $ 16.41 N/A N/A N/A N/A Cost of sales per gold equivalent ounce sold $ 1,417 N/A $ 959 $ 1,385 N/A $ 1,279 $ 1,019 $ 1,244 Cash cost per gold ounce sold $ 1,418 N/A $ 960 N/A N/A N/A $ 1,020 N/A Cash cost per silver ounce sold N/A N/A N/A $ 11.75 N/A N/A N/A N/A Cash cost per gold equivalent ounce sold $ 1,418 N/A $ 960 $ 992 N/A $ 1,155 $ 1,020 $ 1,137 AISC per gold ounce sold $ 1,690 N/A $ 1,488 N/A N/A N/A $ 2,507 N/A AISC per silver ounce sold N/A N/A N/A $ 15.36 N/A N/A N/A N/A AISC per gold equivalent ounce sold $ 1,690 N/A $ 1,488 $ 1,297 N/A $ 1,679 $ 2,507 $ 1,789 Article content (22) CC&V data presented represents the period from February 28, 2025 to June 30, 2025, the period for which the Company was entitled to the economic benefits of CC&V following the acquisition. (23) Excludes depreciation, depletion, and amortization. (24) Care and maintenance expense only includes direct costs not associated with environmental reclamation and remediation costs, as depreciation is not included in the calculation of AISC. (25) General and administrative expense for the six months ended June 30, 2025 included $15.8 million in share based compensation expense. (26) GEOs are calculated using the silver ounces sold multiplied by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include copper, lead, or zinc as they are considered by-products. GEOs sold may not re-calculate based on amounts presented in this table due to rounding. Article content Non-GAAP Measure – Adjusted Net Income (Loss) Attributable to SSR Mining Shareholders and Adjusted Net Income (Loss) Per Share Attributable to SSR Mining Shareholders Article content Adjusted attributable net income (loss) and adjusted attributable net income (loss) per share are used by management to measure the Company's underlying operating performance. We believe this measure is also useful for shareholders to assess the Company's operating performance. The most directly comparable financial measures prepared in accordance with GAAP are net income (loss) attributable to SSR Mining shareholders and net income (loss) per share attributable to SSR Mining shareholders. Adjusted net income (loss) attributable to SSR Mining shareholders is defined as net income (loss) adjusted to exclude the after-tax impact of specific items that are significant, but not reflective of the Company's underlying operations, including the expected impacts of Çöpler Incident; inflationary impacts on tax balances; transaction, integration; and other non-recurring items. Article content The following table provides a reconciliation of Net income (loss) attributable to SSR Mining shareholders to adjusted net income (loss) attributable to SSR Mining shareholders: Article content (in thousands of US dollars, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) attributable to SSR Mining shareholders (GAAP) $ 90,075 $ 9,693 $ 148,856 $ (277,389) Interest saving on 2019 notes, net of tax $ 1,247 $ — $ 2,479 $ — Net income (loss) used in the calculation of diluted net income per share $ 91,322 $ 9,693 $ 151,335 $ (277,389) Weighted-average shares used in the calculation of net income (loss) per share Basic 202,774 202,133 202,598 202,244 Diluted 216,989 202,407 216,691 202,244 Net income (loss) per share attributable to SSR Mining shareholders (GAAP) Basic $ 0.44 $ 0.05 $ 0.73 $ (1.37) Diluted $ 0.42 $ 0.05 $ 0.70 $ (1.37) Adjustments: CC&V transaction and integration costs $ 4,958 $ — $ 11,753 $ — Effects of the Çöpler Incident (27) $ 52,179 $ — $ 53,430 $ 321,954 Insurance proceeds received related to the Çöpler Incident (28) $ (35,527) $ — $ (35,527) $ — Changes in fair value of marketable securities $ (2,065) $ (3,602) $ (3,721) $ (6,419) Income tax impact related to above adjustments $ 1,857 $ 573 $ 954 $ 1,021 Inflationary impacts on tax balances $ (1,403) $ 825 $ (4,098) $ (9,168) Adjusted net income attributable to SSR Mining shareholders (Non-GAAP) $ 110,074 $ 7,489 $ 171,647 $ 29,999 Adjusted net income per share attributable to SSR Mining shareholders (Non-GAAP) Basic $ 0.54 $ 0.04 $ 0.85 $ 0.15 Diluted (29) $ 0.51 $ 0.04 $ 0.80 $ 0.15 Article content (23) For the three months ended June 30, 2025, the effects of the Çöpler Incident represent (1) reclamation costs of $7.5 million (presented net of pre-tax attributable non-controlling interest of $1.9 million) and remediation costs of $42.8 million (presented net of pre-tax attributable non-controlling interest of $10.7 million) and (2) contingencies and expenses of $1.8 million (presented net of pre-tax attributable non-controlling interest of $0.5 million). For the six months ended June 30, 2025, the effects of the Çöpler Incident represent (1) reclamation costs of $7.5 million (presented net of pre-tax attributable non-controlling interest of $1.9 million) and remediation costs of $42.8 million (presented net of pre-tax attributable non-controlling interest of $10.7 million) and (2) contingencies and expenses of $3.1 million (presented net of pre-tax attributable non-controlling interest of $0.8 million). For the six months ended June 30, 2024, the effects of the Çöpler Incident represent (1) reclamation costs of $9.0 million (presented net of pre-tax attributable non-controlling interest of $2.2 million) and remediation costs of $209.3 million (presented net of pre-tax attributable non-controlling interest of $52.4 million); (2) impairment charges of $91.4 million (presented net of pre-tax attributable non-controlling interest of $22.8 million) related to plans to permanently close the heap leach pad; and (3) contingencies and expenses of $12.3 million (presented net of pre-tax attributable non-controlling interest of $3.0 million). (24) For the three and six months ended June 30, 2025, represents $35.5 million (presented net of pre-tax attributable non-controlling interest of $8.9 million) of business interruption insurance proceeds received associated with the Çöpler Incident. (25) Adjusted net income (loss) per diluted share attributable to SSR Mining shareholders is calculated using diluted common shares, which are calculated in accordance with GAAP. For the three months ended June 30, 2024, $1.2 million interest saving on 2019 Notes, net of tax, and dilutive potential shares of approximately 12.9 million were excluded from the computation of diluted loss per common share attributable to SSR Mining shareholders in the Condensed Consolidated Statement of Operations as they were antidilutive. For the six months ended June 30, 2024, $2.5 million interest saving on 2019 Notes, net of tax, and dilutive potential shares of approximately 12.9 million were excluded from the computation of diluted loss per common share attributable to SSR Mining shareholders in the Condensed Consolidated Statement of Operations as they were antidilutive. These interest savings and shares were included in the computation of adjusted net income (loss) per diluted share attributable to SSR Mining shareholders for the six months ended June 30, 2024. Article content Non-GAAP Measure – Free Cash Flow, Cash Flow From Operating Activities Before Changes in Working Capital, and Free Cash Flow Article content The Company uses free cash flow, cash flow from operating activities before changes in working capital, and free cash flow before changes in working capital to supplement information in its condensed consolidated financial statements. The most directly comparable financial measures prepared in accordance with GAAP is cash provided by operating activities. The Company believes that in addition to conventional measures prepared in accordance with US GAAP, certain investors and analysts use this information to evaluate the ability of the Company to generate cash flow after capital investments and build the Company's cash resources. The Company calculates free cash flow by deducting cash capital spending from cash generated by operating activities. The Company does not deduct payments made for business acquisitions. Article content The following table provides a reconciliation of cash provided by operating activities to free cash flow: Article content We also present operating cash flow before working capital adjustments and free cash flow before working capital adjustments as non-GAAP cash flow measures to supplement our operating cash flow and free cash flow (non-GAAP) measures. We believe presenting both operating cash flow and free cash flow before working capital adjustments, which reflects an exclusion of net changes in operating assets and liabilities, will be useful for investors because it presents cash flow that is actually generated from the continuing business. The Company calculates cash generated by (used in) operating activities before changes in working capital by adjusting cash generated by (used in) operating activities by the net change in operating assets and liabilities. The Company also calculates free cash flow before changes in working capital by deducting cash capital spending from cash flow from operating activities before changes in working capital. Article content The following table provides a reconciliation of cash provided by operating activities to cash generated by (used in) operating activities before changes in working capital, and free cash flow before changes in working capital: Article content (in thousands of US dollars, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Cash provided by (used in) operating activities (GAAP) $ 157,841 $ (78,132) $ 242,646 $ (53,501) Net change in operating assets and liabilities $ 38,175 $ 55,030 $ 58,324 $ 62,463 Cash provided by (used in) operating activities before changes in working capital (non-GAAP) $ 196,016 $ (23,102) $ 300,970 $ 8,962 Expenditures on mineral properties, plant, and equipment $ (59,455) $ (38,176) $ (104,962) $ (72,211) Free cash flow before changes in working capital (non-GAAP) $ 136,561 $ (61,278) $ 196,008 $ (63,249) Article content Article content Article content Article content View source version on Article content Article content Article content Contacts Article content E-Mail: invest@ Phone: +1 (888) 338-0046 Article content Article content Article content
The Irish Sun
22-07-2025
- General
- The Irish Sun
Wilko's 49p buy will keep out creepy crawlies as UK's ‘biggest spider' believed to be hiding in homes
NO ONE wants creepy crawlies invading their home but in the summer these little pests can slowly creep into your house. But we've got the perfect 49p buy that will keep out the UK's biggest spider that's Advertisement The Cardinal Spider 3 The Cardinal spider is the largest spider in the UK Credit: Getty - Contributor The UK has 650 different species of spiders, and the largest among Cardinal spiders, known internationally as Tegenaria Parietina, have been recorded to grow up to 14cm. Typically found in buildings or on walls, there is due to be more All spiders can bite – that's how most subdue and kill their prey. Advertisement Pest control But the Cardinal's small fangs will only render mild discomfort in a human. So there is no need to be fearful of these creatures - even if you What are Cardinal Spiders? 3 Though the species is pretty rare in Europe, they're found more commonly in the south of England Credit: Getty - Contributor The spider was allegedly called after Cardinal Wolsey who was terrified by the sight of the spiders at Hampton Court . Advertisement Though the species is pretty rare in Europe, they're found more commonly in the south of England. Most read in Fabulous Most of them live in buildings or walls, and like all spiders living in houses, they can withstand very dry conditions and survive for months without sustenance. The females are larger and can grow to a body length of up to 20 mm while males measure up to 17 mm. Giant huntsman spider lurking in his bunch of Aldi bananas Typically reddish brown in colour, but young Cardinal spiders can be much lighter, so taking that into account with it's size - easy to spot! Advertisement However, their legs are about three times longer in length. How to deter them from your home 3 Wilko are selling Marigold seeds for only 49p Credit: wilko If you're looking for Evie Lane, gardening expert at Advertisement There's a reason why allotment keepers have been And Wilko's has packets of These bright, friendly plants repel a swathe of pests including spiders and snails, so they come in handy both inside the home and out. Other plants that also help keep them at bay are Chrysanthemums, Eucalyptus, Lavender and Rosemary. Advertisement Spiders also don't like mint, but you don't need You can also put some mint leaves in water in a spray bottle and after the leaves have had a chance to sit in the water a while, spray the entry points of your home. But to any who investing in a good, cruelty-free spider catcher, so you can send them on their way.
Time Out
18-07-2025
- Time Out
The Ritz-Carlton, Bangkok
Luxury at first glance, heartfelt at every step The Ritz-Carlton has long been a name synonymous with luxury, with iconic addresses in cities such as New York, London and Tokyo. So, when the brand finally made its Bangkok debut in 2024, expectations were sky-high and – having now stayed there myself – I can firmly say it lives up to the hype. Just to clear things up, this isn't the same as The Ritz-Carlton Residences at MahaNakhon. This is a brand-new, standalone hotel under Marriott International, reportedly built with a B5 billion price tag – a hint of the opulence inside. Located within One Bangkok, the city's newest mixed-use development, the hotel enjoys a prime position with uninterrupted views of Lumpini Park. It also subtly blends elements of Thai culture and design, offering an experience that feels both global and distinctly local. Here's why The Ritz-Carlton, Bangkok is worth the splurge. Why stay at The Ritz-Carlton, Bangkok? Although it's located right in the heart of the city, the hotel's position overlooking Lumphini Park makes it feel like a serene escape from the Bangkok bustle. It's the kind of place you could happily stay in all day long, with multiple dining options and meticulously designed spaces that invite you to linger. The interiors are thoughtfully curated, featuring artworks by local and international artists sprinkled throughout. While the establishment draws on Thailand's rich cultural roots, it pairs that heritage with a clean, modern feel. One of my favourite spots is the eighth-floor lobby, where a peaceful pond and delicate glass lotus sculptures by Thai artist Nathakorn Kanitvaranun create an almost dreamlike atmosphere. If you're there at sunset, the whole space glows with the warm light of golden hour. But what truly sets this hotel apart is the hospitality. From the moment I checked in, the staff made me feel genuinely cared for. Small gestures stood out such as the evening turndown service, which came without needing to ask and how they remembered my name and even what I ordered for breakfast. It honestly felt like they could anticipate what I needed before I said a word. What are the rooms like at The Ritz-Carlton, Bangkok? Housed in a sleek 216-metre-high tower, The Ritz-Carlton, Bangkok offers 260 rooms – some with private terraces, all with floor-to-ceiling windows framing panoramic city views. Room options range from the 50-square-metre deluxe to the spacious 102-square-metre Gardenia Suites and the 127-square-metre Marigold and Amaranth Suites. The deluxe rooms are available with three view options: Lumphini Park to the west, the embassy and downtown area to the north and the Chao Phraya River to the south. I stayed in a deluxe room with a terrace overlooking Lumphini Park on the 21st floor, which also came with club lounge access. The lounge offers services such as a dedicated concierge and five food and beverage presentations throughout the day. The room felt comfortable and well put together. It had everything I needed, including a king-size bed with Frette linens, a coffee machine, electric kettle, high-speed internet, a Dyson hairdryer and a 65-inch TV. The bathroom was one of the highlights. Finished in marble, it featured a separate bathtub and walk-in shower, along with a Japanese-style toilet and remote-control bidet. Bathrobes were soft and breathable and Diptyque bath products added a touch of sophistication. Just a heads-up, if you decide to take the products home with you, there's a charge of B2,500 per bottle. Of course, the room had everything I needed, but what I appreciated most were the little extras such as the complimentary shoe-shining service for guests. A little warning, though: each room features a fun 'cabinet of curiosities', where you can find a selection of drinks tucked away inside the drawers. You might find yourself tempted to enjoy a nightcap here more often than planned. Where's there to eat at The Ritz-Carlton, Bangkok? There are a few great options to explore. I had a full dinner at Duet by David Toutain and it turned out to be one of the highlights of my stay. The restaurant is set inside a glasshouse with an outdoor terrace and seats just 32 people for both lunch and dinner. The menu is created by French chef David Toutain and Chef de Cuisine Valentin Fouache, focusing on seasonal, farm-to-table dishes. When I visited, it was the summer menu and I got to try dishes like zucchini with lemon balm and pistachio. It's fine dining, but not stuffy at all – just thoughtful food in an elegant setting. For lunch, I tried Lily's, the hotel's all-day dining restaurant that serves a mix of local and international dishes, with a focus on 'reconsidered classics'. The space feels welcoming and stylish with open kitchens and a mix of seating options, from cosy tables for two to more social sofa setups. On weekdays, the place offers a lunch set with two courses, available from Monday to Friday. The set included starters like A5 wagyu tartare, mains such as khao soi crab curry and desserts like bunny goat milk cheesecake. If you prefer to order a la carte, you can choose from their bites, bowls and single plates, which are available throughout the day. When it comes to drinks, Caleō is a story-driven space where each cocktail draws inspiration from iconic social clubs around the world. Derived from the Latin for 'being in love', the bar embraces passion and a zest for life through perfect pairings and personalised moments. Served in vintage glassware and announced by the ring of a bell at sundown, drinks here aren't just beverages, they're little rituals. What is breakfast at The Ritz-Carlton, Bangkok like? Breakfast at The Ritz-Carlton, Bangkok is absolutely worth getting out of bed for. If you like a calm start to your day, head to the Club Lounge on the 23rd floor. It offers a light spread of pastries, congee, dim sum and a selection of drinks. But if you're ready to go all in, Lily's is where the real breakfast magic happens. There are four stations to explore – Thai dishes, an Arabic salad bar, sides and a pastry corner. It honestly feels like breakfast heaven. You'll find six kinds of milk, loads of juice options and an egg station that even serves egg siam, a Thai twist on eggs Benedict. If you don't feel like walking around, you can also order straight from the staff. The must-try is Lily's Thai tea waffle, a delicious nod to the Thai-Belgian Friendship Bridge visible just outside the window. It's soft, floral and full of that bold Thai tea flavour we all love. Whether you choose the club lounge or Lily's, both spots come with a sweeping view of Lumpini Park. Trust me, it's the kind of morning that makes you want to wake up early even on vacation. What is the service like at The Ritz-Carlton, Bangkok? As soon as you arrive, The Ritz-Carlton, Bangkok makes you feel genuinely cared for. The staff are exceptionally warm and attentive. I stayed for just one night, and many of them already remembered my name. So if you're staying longer, I wouldn't be surprised if they remember your daily order too. Throughout your stay, the team is more than happy to show you around and explain the hotel's amenities. One of my favourite touches was the personalised wake-up service. You can request a simple wake-up call or take it up a notch and have tea or coffee delivered to your room at the exact time you choose. Right on the dot, a staff member arrived with a full tea set and a small snack. What impressed me most was how the staff often anticipated what I needed before I even asked. When I was taking photos by the pool, the staff brought over a phone tripod without me saying a word. Later, they quietly placed towels, water and even mosquito spray by my lounge chair. What is the spa and what other facilities are there at The Ritz-Carlton, Bangkok? The Ritz-Carlton, Bangkok offers a good range of wellness facilities. The spa centres around what they call 'Meaningful Wellness Journeys', with treatments focusing on mind, body and skin. You'll find steam rooms, saunas and a jacuzzi. What I found most interesting was the Himalayan salt room, a softly lit space lined with pink salt bricks that's said to help with relaxation and breathing. It was a pleasant surprise and definitely worth checking out if you want to try something a little different. The hotel has two outdoor saltwater pools, including a small one for kids. The main pool area is peaceful, with views over Lumphini Park, plus plenty of loungers and cabanas. There's also a poolside bar offering drinks and snacks. It is usually open from early morning until evening, though the bar closes a bit earlier. For families, the Kids' Club provides fun and engaging activities to keep little ones entertained, giving parents some well-deserved downtime. The fitness centre is open 24/7 and is well-equipped with technogym machines, free weights, cardio equipment and dedicated stretching areas. Personal training sessions are also available. What's the area like around The Ritz-Carlton, Bangkok? The hotel is set in One Bangkok, a new mixed-use development right at the corner of Wireless and Rama IV roads. While parts of the establishment are still opening in phases, you'll already find stylish cafes such as % Arabica, Gallery Drip Coffee, and boutique spots such as Club21 and King Power City Boutique. The complex also includes pop-up exhibitions, landscaped walkways and open public spaces that make it feel more like a modern urban village than a commercial zone. Right across from the hotel is Lumphini Park, a peaceful green oasis in the heart of Bangkok where you can enjoy a refreshing morning walk, a jog or simply relax by the lake away from the city's hustle and bustle. There's also plenty to eat and do close by. If you look for a place to shop or dine, Central Embassy and Central Chidlom are a short drive away. For something more local, Polo Fried Chicken is a long-time favourite known for its crispy garlic chicken. If you're after more modern spots, theCOMMONS Saladaeng has a good mix of cafes and small eateries and Woof Pack nearby often has art shows and food pop-ups. Getting around is easy too. Both Saladaeng BTS and Lumphini MRT stations are within walking distance, so you can explore the rest of the city without much hassle. Why should you book a stay at The Ritz-Carlton, Bangkok? The Ritz-Carlton, Bangkok truly lives up to the luxury it promises. What really sets it apart is the exceptional service. The staff here genuinely care about every detail of your stay, making you feel welcome and looked after as soon as you walk in. It's that personal touch – the warm smiles, remembering your preferences and anticipating your needs – that turns a stay into a memorable experience. If you're looking for a place that combines comfort, elegance and heartfelt hospitality, this is definitely worth considering.
Yahoo
24-06-2025
- Business
- Yahoo
RBC Capital Maintains a Hold Rating on SSR Mining (SSRM)
SSR Mining Inc. (NASDAQ:SSRM) is one of the 11 Cheap Gold Stocks to Buy According to Hedge Funds. In a report released on June 4, Michael Siperco from RBC Capital maintained a Hold rating on SSR Mining Inc. (NASDAQ:SSRM) with a price target of $13.00. The same day, the company announced that it had suspended operations at Seabee due to temporary power interruptions that were caused by forest fires that erupted north of the mine. An aerial view of a large open-pit mine at sunrise, with trucks driving in its depths. SSR Mining Inc. (NASDAQ:SSRM) provided an update on June 13, stating that the operations had resumed at the site with the power supply fully restored. Management announced that the fires had caused no damage to the site. SSR Mining Inc. (NASDAQ:SSRM) operates, develops, explores, and acquires metal resource properties in the Americas and Turkiye. It operates through the Copler, Marigold, Seabee, Puna, and the Exploration, Evaluation, and Development Properties business segments. Sites. The Copler, Marigold, Seabee, and Puna segment encompasses its four operating mine sites. SSR Mining Inc. (NASDAQ:SSRM) produces gold doré, along with silver, lead, copper, and zinc concentrates. While we acknowledge the potential of SSRM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
24-06-2025
- Business
- Yahoo
RBC Capital Maintains a Hold Rating on SSR Mining (SSRM)
SSR Mining Inc. (NASDAQ:SSRM) is one of the 11 Cheap Gold Stocks to Buy According to Hedge Funds. In a report released on June 4, Michael Siperco from RBC Capital maintained a Hold rating on SSR Mining Inc. (NASDAQ:SSRM) with a price target of $13.00. The same day, the company announced that it had suspended operations at Seabee due to temporary power interruptions that were caused by forest fires that erupted north of the mine. An aerial view of a large open-pit mine at sunrise, with trucks driving in its depths. SSR Mining Inc. (NASDAQ:SSRM) provided an update on June 13, stating that the operations had resumed at the site with the power supply fully restored. Management announced that the fires had caused no damage to the site. SSR Mining Inc. (NASDAQ:SSRM) operates, develops, explores, and acquires metal resource properties in the Americas and Turkiye. It operates through the Copler, Marigold, Seabee, Puna, and the Exploration, Evaluation, and Development Properties business segments. Sites. The Copler, Marigold, Seabee, and Puna segment encompasses its four operating mine sites. SSR Mining Inc. (NASDAQ:SSRM) produces gold doré, along with silver, lead, copper, and zinc concentrates. While we acknowledge the potential of SSRM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
