SSR Mining Inc. Q4 2025 Earnings Call Summary

Moby Intelligence

Wed, February 18, 2026 astatine 7:30 AM CST 3 min read

• Delivered 2025 accumulation supra the midpoint of guidance, driven by grounds processing volumes astatine Puna and exceptional betterment show astatine Cripple Creek and Victor (CC&V).

• Generated $252 cardinal successful full-year escaped currency flow, supporting a robust liquidity presumption of implicit $1 cardinal to money some maturation superior and shareholder returns.

• Reestablished a $300 cardinal stock buyback programme based connected management's presumption that the existent stock terms does not bespeak the intrinsic worth of the diversified portfolio.

• Successfully integrated CC&V, which generated implicit $200 cardinal successful excavation tract escaped currency travel successful 2025, much than doubling the archetypal $100 cardinal upfront acquisition cost.

• Advanced the Hod Maden task done a Technical Report Summary (TRS) that confirms its presumption arsenic a high-grade, first-quartile copper-gold plus with a 39% IRR.

• Implemented a blase 'durable vs. nondurable' ore blending strategy astatine Marigold to mitigate humanities heap leach compression issues and optimize golden recovery.

• Maintained a blimpish reserve terms presumption of $1,700 per ounce gold, prioritizing borderline preservation implicit measurement enlargement via little cutoff grades.

• 2026 accumulation guidance is 450,000 to 535,000 golden equivalent ounces. Production astatine CC&V is expected to beryllium 50% to 55% weighted to the 2nd fractional of the year, portion Seabee accumulation is expected to beryllium astir 60% weighted to the 2nd half.

• Anticipate a ceremonial operation determination for Hod Maden pursuing associated task reviews, with aboriginal tract works presently funded astatine astir $15 cardinal per month.

• Planned 2026 superior walk of $150 cardinal includes important fleet replacements and leach pad expansions astatine Marigold to enactment semipermanent haulage requirements.

• Strategic absorption astatine Puna involves evaluating pit laybacks and the Cortaderas underground deposit to widen the excavation beingness good beyond the existent 2028 projection.

• Expect to merchandise an updated Marigold TRS wrong 18 months to integrate the Buffalo Valley and New Millennium deposits into the semipermanent accumulation profile.

• Çöpler remains successful attraction and attraction with estimated currency costs of $20 cardinal to $25 cardinal per 4th portion regulatory discussions regarding the heap leach installation continue.

• All-in sustaining costs (AISC) for 2025 reached the apical extremity of guidance owed to higher-than-forecasted royalty costs tied to elevated golden prices and share-based compensation.

• Marigold's 2026 AISC is expected to beryllium highest successful the archetypal half, reflecting a 70% weighting of sustaining superior expenditures for fleet and process works improvements.

• Seabee operations volition absorption connected underground improvement successful the archetypal fractional of 2026 to amended stope availability, resulting successful a production-heavy 4th quarter.