SSR Mining Inc. reported significant financial improvements in its latest quarterly results, with revenues for the three months ended June 30, 2025, reaching $405.5 million, a 119.4% increase from $184.8 million in the same period last year. For the first half of 2025, revenue totaled $722.1 million, up 74.0% from $415.1 million in the prior year. The surge in revenue was primarily driven by a 124.2% increase in gold ounces sold, attributed to the acquisition of the Cripple Creek and Victor Gold Mine (CC&V) and higher sales at the Marigold mine. The average realized gold price also rose by 40.3%, contributing an additional $87 million to revenue.
The company's operating income for the second quarter was $108.9 million, a substantial increase from $10.7 million in the same quarter of 2024. Net income attributable to SSR Mining shareholders was $90.1 million, compared to $9.7 million in the previous year, marking an increase of 829.3%. For the first half of 2025, net income reached $148.9 million, a significant recovery from a net loss of $277.4 million in the same period of 2024. Basic net income per share rose to $0.44 from $0.05 year-over-year.
Operationally, SSR Mining faced challenges, including a temporary suspension of operations at the Seabee mine due to power interruptions caused by nearby forest fires. However, operations resumed on June 13, 2025, with no reported damage. The company also completed the acquisition of CC&V on February 28, 2025, for $100 million in cash, with potential milestone payments of up to $175 million. This acquisition is expected to enhance the company's scale and free cash flow.
The company reported a notable increase in reclamation and remediation costs, which rose to $69.9 million in the second quarter, compared to just $2.4 million in the same period last year. This increase was primarily due to revised estimates related to the Çöpler heap leach pad incident. The total cash and cash equivalents as of June 30, 2025, stood at $412.1 million, reflecting a $24.2 million increase from the end of 2024. The company anticipates continued operational improvements and revenue growth, bolstered by the integration of CC&V and ongoing production at its other mines.
About SSR MINING INC.
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