PRECIOUS METALS

Quality gold quarter by SSR Mining

MULTI national gold miner and potential future De Grey Mining suitor SSR Mining has delivered another good operational quarter and declared a dividend that takes returns to shareholders in the first half of the year to US$125 million.

 Copler, Turkey

Copler, Turkey

SSR's production of 199,673 ounces from its four operations came at all-in sustaining costs of $961/oz, generating $100 million in free cashflow.

That took half yearly production to 395,750oz.

SSR's cash and cash equivalents balances totalled $870.4 million.

The dual ASX-TSX listed SSR's flagship operation, Copler in Turkey, contains oxide and sulfide ores mined concurrently and processed through two processing plants using heap leach and pressure oxidation techniques, respectively.

De Grey's multi-million ounce Hemi discovery in Western Australia shapes as a likely pressure oxidation candidate.

Shares in SSR rose about 5% to A$22.90 after the quarterly report was released, capitalising the company at $5 billion.

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