SSR Mining (TSX:BTO) (NYSE: SSRM) reviewed 10-02-2020
Market Cap: $2.3 Billion (USD)
Share Price: $18.35 (USD)
Shares outstanding: 123,275,000
Cash: $461.7 M (USD)
Debt: $173.6 M (USD)
Current operations: Yes
Insider holdings: Low
Institutional: 260 holders at 74% of float
Website: ssrmining.com
President, CEO and Director: Rodney P. Antal
Strong balance sheet
Company guides towards 680K-760K Au equivalent ounces in 2020
2019 production: 760K oz Au and 7 M oz Ag
AISC of $1733 (USD) trended higher as of June 2020: this should decrease as ops normalize
Current Operations: Copler (Turkey), Puna (Argentina), Seabee (Canada), Marigold (US)
Seabee and Puna were on temporary Care & Maintenance due to COVID-19
Has development projects in Peru, Mexico, and Turkey
Exploration in Canada: Amisk, Sunrise Lake
Sold investment in Silvercrest Metals in Mar. 2020 for $95.0 M (CAD)
Van Eck, Fidelity, and Vanguard are SSRM shareholders
Good management team, excellent properties, lower risk
Bottom line:
- Transitioning from silver to gold, although Puna in Argentina still produces about Seven (7.0) million ounces per year
- Sold large silver resource properties to Abraplata Resources and Silver One
- I personally hold a +5.1% weighted position, and prepared to add to it