SSR - SSR Mining

[finicky]

The NASDAQ seems to be where SSR Mining does most of its trading under the code SSRM.
It also trades on the Toronto exchange CA:SSRM.
The NASDAQ SSRM weekly chart is showing an emphatic break of a multi-touch downtrend line, volume was strong, candle pair is bullish engulfing for want of a more precise term.
Can't be bad anyway.

3 Yr Weekly

 

[finicky]

 

[finicky]

Our SSR CDI's traded similarly to NASDAQ trading of the SSRM primary shares over last week. The SSRM chart shows the week ending just a cent off its high and echoing the prior week with the highest volume in 5 months. The price has emphatically confirmed the break from the 14 months downtrend, exceeding even the second last peak of that downtrend and broken above US$19 resistance.
Lots of call options buying in the U.S last week and brokers have buy reccs.

SSRM 2 Year Weekly

Traders Purchase Large Volume of Call Options on SSR Mining (NASDAQ:SSRM)
SATURDAY, NOVEMBER 14

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) saw some unusual options trading on Friday. Stock investors bought 17,385 call options on the company. This is an increase of 1,292% compared to the average volume of 1,249 call options. A number of institutional investors and hedge funds have recently modified their holdings of the stock ...

Traders Purchase Large Volume of Call Options on SSR Mining (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 17,385 call options on the stock. This is an increase of approximately 1,292% compared to the average volume of 1,249 call options.

www.marketbeat.com

 

[mullokintyre]

SSr has announced it will takeover Canadian gold eproducer Taigo Gold.
Its not a lot of money at 61mill Canadian, but the price paid at 39% premium to previous VWAp is pretty generous.
I guess the fact that the tenements that Taigo owns adjoins those of SSR's make it attractive.
Perhaps some prospective drilling have convinced them the area is worth owning.
Mick

 

[finicky]

I'm reading US$21 for the transaction?
This really is chickenfeed for SSR with its cash resources - US$900m at the time the last Qtr was reported.
As you imply it is worth more to SSR than any company because the most advanced tenement abuts the Seabee plant tenement so they get 'leverage' from the present infrastructure.
They get the 2.5% nsr royalty back from the Fisher property.
SSR can be bought today at $1 less than yesterday. With 212m share issued, that's A$212m down on yesterday which looks to be more than most goldies today on a percentage basis (4%). You could make an argument that buying today gets you the acquisition for free.
The 5 other tenements have reported high grade grab samples (Seabee is high grade) and SSR has the cash to mount strong exploration programs.

 

[finicky]

Chart for SSR on its main exchange (Nasdaq code: SSRM) has filled a gap and retraced roughly 50% of the swift run up from September.

SSRM

 

[Sean K]

Unusual price action this am, perhaps a delayed reaction to the exploration results last week. A few very good hits there.

 

[finicky]

Tacked on 250 more. Got a bid filled @ 22.63.
Hoping that the big cash buffer will provide some protection in a crash. Relatively low capital demands and might be acquisition opportunities in a crash. Just rationalising as I like the company so much.
Significant exposure to silver as well as the main product of gold.
Retraced over 60% of the last run up.

Daily

 

[finicky]

SSRM (nasdaq) daily chart.
Hammer candle followed by a big white.

 

[Sean K]

SSRM (nasdaq) daily chart.
Hammer candle followed by a big white.

Good reversal indicator. Should be a nice green day for goldies today.

 

[noirua]

SSR MINING ANNOUNCES COMMISSIONING AND RAMP-UP OF THE ÇÖPLER FLOTATION CIRCUIT
24 December 2021

http://s22.q4cdn.com/546540291/files/doc_news/2021/12/SSR-MINING-ANNOUNCES-COMMISSIONING-AND-RAMP-UP-OF-THE-%c3%87%c3%96PLER-FLOTATION-CIRCUIT.pdf

Çöpler Remains Well On Track For 2021 Production & Cost Guidance

 

[mullokintyre]

SSR announced today it had offloaded the Pitarilla project to Endeavour Silver for 35 mill cash and a 5% share in Endeavour that makes the total around 127mill.
It will also get royalties from the mine.
The cash and share trans is greater than the book value SSR had on the project, so thats a win.
Endeavour already operates in Mexico, so should be good fit for both.
Continues the rationalising of its core and non core assets.
Mick

 

[finicky]

There goes my secondary reason for owning SSR but I trust their judgement. For anybody who likes the eventual prospect for silver, there stood a 500m oz'er in the pipeline waiting on higher prices.
US70m in cash and equity in Endeavour Silver plus 'up to' $57m net smelter royalty. But the $70m cash/equity alone exceeds the book value of Pitarrilla on the balance sheet so our b.v gets a small boost. I wonder if there is the possibility of a higher smelter royalty outcome at higher silver prices. The NSR is based on a 2021 tech report at a US25 silver price but the announcement does say "up to 57m NSR".
The announcement does say Endeavour has committed to spending $10m on exploration at Pitarrilla - why would that be mentioned along with the benefits of the sale unless it could impact the royalty. Anyway none of it is the main game for this company.
The astute BtL finance was right again (he said they'd sell Pitarrilla)

The Nasdaq SSRM chart is looking ok, not doing much but ok, with the possibility it took a rest overnight for a move higher - undecided

Daily SSRM Nasdaq

 

[Sean K]

Finding a little support at $22.80 ish. Gaps up and down a lot.

 

[finicky]

Gaps up and down a lot

Does most of its trading on the Nasdaq, doesn't gap unusually trading as SSRM there. Ours on the ASX are just 1:1 CDI's

 

[finicky]

Great goldie

February 1, 2022 (AEST)
SSR MINING ACHIEVES TOP END OF 2021 PRODUCTION GUIDANCE, BEATS AISC GUIDANCE, OUTLINES THREE-YEAR OUTLOOK AND INTENDS TO INCREASE 2022 DIVIDEND BY 40%

In 2022, the Company expects to sustain its strong and stable production base with consolidated production of 700,000 to 780,000 gold equivalent ounces at consolidated U.S. GAAP AISC of $1,120 to $1,180 per ounce. Beyond 2022, SSR Mining expects to maintain a production base in excess of 700,000 gold equivalent ounces in 2023 and 2024, showcasing a robust long term outlook without requirements for material capital investment.

 

[finicky]

"Probably US$650m net cash by end of Q4"!

 

[mullokintyre]

Full year results make pleasant reading.
At the top end of the guidance for production, and at an AISC below guidance.
Free cash flow for the year at 444 mill.
Cash and bullion a cool billion.
Quarterly dividend up by 40%.
Min reserves up by 14%, so things looking good for a few years at least.
More than happy with this lot.
Mick

 

[finicky]

Stockhead featured SSR first with two other gold producers of note in this article. Not sure what the criteria are, as the second one is doggie Dacian (DCN) which is seen to be reaffirming fy22 guidance. The third is Alkane (ALK). Nothing we holders don't already know about SSR.

Weekly Top 3 Producers​

SSR MINING (ASX:SSR)

Dual listed gold miner SSR came through with outstanding results at exactly the right time.

Full year production of 794,456oz approached the top end of the company’s guidance (720,000 to 800,000oz) while costs were lower than predicted at $US955oz (guidance: $US1,000 to $US1,040/oz).

A nice profit margin of $444.2 million saw the company declare a quarterly cash dividend of US$0.07 per share — an increase of 40% over the third quarter dividend.

SSR is aiming to produce ~800,000oz per year over the next three years, “a strong and stable production profile without requirements for material capital investment”.

“The Company’s 2022 guidance included AISC guidance of $1,120 to $1,180 per ounce, reflecting a cost profile that ensures strong free cash flow and capital returns going forward,” it says.

At the end of 2021, SSR had a cash and cash equivalent balance of US$1.017 billion.

 

[Sean K]

Stockhead featured SSR first with two other gold producers of note in this article. Not sure what the criteria are, as the second one is doggie Dacian (DCN) which is seen to be reaffirming fy22 guidance. The third is Alkane (ALK). Nothing we holders don't already know about SSR.

Weekly Top 3 Producers​

SSR MINING (ASX:SSR)

Dual listed gold miner SSR came through with outstanding results at exactly the right time.

Full year production of 794,456oz approached the top end of the company’s guidance (720,000 to 800,000oz) while costs were lower than predicted at $US955oz (guidance: $US1,000 to $US1,040/oz).

A nice profit margin of $444.2 million saw the company declare a quarterly cash dividend of US$0.07 per share — an increase of 40% over the third quarter dividend.

SSR is aiming to produce ~800,000oz per year over the next three years, “a strong and stable production profile without requirements for material capital investment”.

“The Company’s 2022 guidance included AISC guidance of $1,120 to $1,180 per ounce, reflecting a cost profile that ensures strong free cash flow and capital returns going forward,” it says.

At the end of 2021, SSR had a cash and cash equivalent balance of US$1.017 billion.

I added this last week. Getting a bit heavy in gold at the moment with expectations of that elusive clear break up out of the 18 month long flag. All the pieces seem to be in place.