SSR Mining's Operations at Copler Remain Suspended: A Path to Growth Amidst Challenges

SSR Mining (SSRM) has suspended operations at its Çöpler mine in Türkiye due to a significant slip on the heap leach pad. The mine was a key contributor to SSRM's output, producing 220,999 gold equivalent ounces in 2023. Despite the lost output, SSRM projects gold production between 320,000 and 380,000 ounces in 2025. The company has incurred reclamation and remediation costs of approximately $272.9 million in 2024 and has a preliminary cost range of $250-$300 million for future reclamation and remediation costs. SSRM shares have gained 73.2% year to date, outpacing the industry's 16.1% growth.

SSR Mining (SSRM), a diversified gold and silver miner, has experienced a significant setback at its Çöpler mine in Türkiye. The mine, a key contributor to SSRM's output, was suspended following a substantial slip on the heap leach pad. In 2023, the mine produced 220,999 gold equivalent ounces, representing a substantial portion of SSRM's total output.

Despite the lost production, SSRM projects gold production between 320,000 and 380,000 ounces for 2025. The company has incurred reclamation and remediation costs of approximately $272.9 million in 2024, with a preliminary cost range of $250-$300 million for future reclamation and remediation costs [1].

SSRM shares have gained 73.2% year to date, outpacing the industry's 16.1% growth. This performance reflects investor confidence in SSRM's long-term prospects, despite the temporary setback at the Çöpler mine.

The company's financial health remains robust, with current assets covering current liabilities about four times and no significant debt. This results in $4 billion in equity on a $2.53 billion market cap, a rare position in the gold mining industry [1].

SSRM's earnings are scheduled for August 5, with consensus EPS ranging from $0.22 to $0.23 and roughly $352 million in revenue. Investors will be closely watching any estimates on Çöpler's production recovery, as well as the integration of the Cripple Creek & Victor mine [1].

References:
[1] https://seekingalpha.com/article/4805954-ssr-mining-sitting-on-a-gold-mine-literally-hidden-value-in-plain-sight