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SSR Mining's Q3 gold output from Marigold, Seabee both up 18% QOQ


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SSR Mining's Q3 gold output from Marigold, Seabee both up 18% QOQ

SSR Mining Inc. said Oct. 11 that it delivered its strongest quarter of the year after third-quarter gold production at its Marigold mine in Nevada and Seabee mine in Saskatchewan both surged around 18% compared to the second quarter.

Marigold produced 58,459 ounces of gold in the third quarter, an 18.3% increase from 49,436 ounces of gold in the prior quarter, driven by record ore tonnes stacked in the second quarter. Gold output at Seabee, meanwhile, reached a record 27,831 ounces, up 18% from 23,582 ounces in the second quarter, on the back of higher average mill feed grade and increased mill throughput.

With the performance, President and CEO Paul Benson said the company is looking forward to meeting or exceeding its annual guidance for the seventh consecutive year. The company expects to produce between 190,000 and 210,000 ounces of gold from the Marigold mine, and between 85,000 and 92,000 gold ounces from the Seabee project this year.

Meanwhile, gold sales from Marigold increased 27.8% on a quarterly basis to 59,612 ounces from 46,644 ounces in the second quarter as a result of strong production and a decrease in bullion inventory.

Sales from Seabee also rose 42.2% on a quarterly basis to 29,175 ounces, from 20,512 ounces in the second quarter.

The company's attributable silver production from its Puna operations in Argentina dropped 30.2% quarter on quarter to 500,000 ounces, while attributable zinc output jumped 113.1% on a quarterly basis to 2,431 pounds. Attributable lead output came in at 279,000 pounds. Attributable silver sales fell 45.5% quarter on quarter to 467,000 ounces, while attributable zinc sales stood at 287,000 pounds.