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SSR Mining posts mixed Q4, FY'18 production results from Marigold, Seabee


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SSR Mining posts mixed Q4, FY'18 production results from Marigold, Seabee

SSR Mining Inc. produced 54,306 ounces of gold at its Marigold mine in Nevada in the fourth quarter of 2018, reflecting a 7.1% decline on a quarterly basis.

Gold sales from the mine also fell 15.2% to 50,550 ounces, SSR Mining said Jan. 15.

Full-year 2018 output from Marigold inched up 1.4% year on year to 205,160 ounces, while sales slipped 0.7% to 198,884 ounces.

The company's Seabee operation in Saskatchewan, meanwhile, produced 20,473 ounces of gold during the three-month period, down 26.4% quarter over quarter, while sales slid 25.6% to 21,711 ounces. The production decline was due mainly to gold ounces contained in circuit at year-end 2018 given the timing of gold pours.

Seabee's full-year output, meanwhile, rose 13.8% to a record 95,602 ounces, with sales growing 6.2% to 91,410 ounces. The strong results were attributed to an improved milling rate and higher gold grade.

Attributable silver production and sales from the Puna operation in Argentina totaled 900,000 ounces and 700,000 ounces, respectively, in the quarter. For 2018, the operation produced and sold 2.8 million ounces of silver, on an attributable basis.

In 2019, SSR Mining aims to produce between 200,000 and 220,000 ounces of gold from Marigold and between 95,000 and 110,000 ounces of gold from Seabee. Attributable silver output from Puna is expected to range between 4.5 million and 5.3 million ounces.

Cash costs per payable ounce sold are estimated to range between C$750 and C$790 at Marigold, between C$525 and C$555 at Seabee and between C$8 and C$10 at Puna.