Q1 2021 SSR Mining Inc Earnings Call

$1 million in consolidated cash and $476 million in net cash.

Given the heavier loads on working capital in Q1.

Especially at Seabee, where they restocked, while the ice road was still formed dividend payments to our shareholders of $11 million and a $38 million payment to our noncontrolling interest partner at Trippler, We're in an outstanding cash position.

Net cash to EBITDA ratio is <unk> six times.

Again, demonstrating our strength and placing us in the top quartile of our peer group.

SSR continues to act on its multifaceted capital allocation strategy, declaring a <unk> <unk> dividend per share again during Q1, coupled with our recently announced non course issuer bid share buyback program.

Setup to repurchase 10 million shares through an automated automated purchased framework within 12 months.

Thank you Alison Thank you Rob.

First off for a S. G. We had an impressive health and safety caught up with a 65% reduction of recordable injury like compared to 2020.

All the thoughts saying improvement.

Also I can play to the sustainability report, which all hype you've had time to right.

It includes new commitments on greenhouse gas emissions in the water.

To match this resolved to deliver these extended asj commitments, we started some restructuring of the a high chestnuts Tim.

All out on you integrated ESG management system progress to plan and will provide a business leaders with better tools for delivery risk management and approved by the slot and data analytics.

All Kobe day reminds of challenge for the World is now part of our ecology and weird diligently managing it along with you on the risks in business factors.

Moving on to operations and right on.

Businesses off to a really solid with all operations achieving about budget production, an overall beloit budget. It cost survey on a great position to live the gardens to 2021.

Some cost savings to simply of timing of expiration of capital, Spain, which advice expected to catch up however, taking timing into consideration overall cost was still slightly better than budget. It from the quota.

Across the business, we've been reviewing and improving lots of them on planning processes yet from of this slum cycle will form the basis of the long term gardens, which we will include for the first time with the annual guidance starting in 2022.

On the trip on that.

The chair for softball, playing continue to price as well above his on throughput writes writes with good relative to budget and all set why wasn't planned recoveries.

The triple oxide Science fact, well above budget with comparable ounces on to the hate Blake with the gap in production simply a function of timing of the late cycled.

Before I attention plant construction as well advanced and reminds on scheduled with commissioning and ramp up from the beginning is cute free the.

The flotation quite he's really got it transformed the true I put pressure oxidized <unk>.

Drilling a study will continue in the district, which includes trip a outage take two in the shape of subtle and we drove about setting thousand meters diamond holes in the quota. We currently have seven drills at outage.

The day, you could drilling and see two is showing gaps in continuity of economic mineralized, so I shouldn't and light and a quarter. We slide drilling that said there is already considerable culpa driven mineral value with them and immediately adjacent to the reserve reasonable shells and the current month plan does not exploit days.

Study time analyzing options to leverage additional value from this.

Outage will be the significant feature of the update it C. D. On pay 21 technique called <unk>, which we I'm to complaint by Q1 next year.

In the last technical report C D and pay 20 outage was included I only as a resource and as a P. I K C section on 24 was shy to potential to add about $500 million and and pay day and about 1 million houses a co production.

M C D on pay 2021 outage will be improved with a subsequent with and will be converted into reserves that is it will move to the bys central cost and evaluation models. Additionally, and Australia. So of course, depending on the outcome of the work we I need to include Culpa mineralization.

As a resource and as a P. I case in as a C D and pay 2021 technical reports.

Now, let's move to marry gold.

True the coldly record some on tons and it's second base quote on off golf production. This is doubly impressive given the slot concluded that scheduled city called to shut down for the big electrical pay on Hydrocodone 100 shuttle.

Two new hydraulic P. C 7000, shovels stepped up and filled the gap during the shutdown.

And I'm on we started drilling and equipping watering balls and commenced the construction of the rapidly infiltration device and this is where the water will be put back into the water title.

We also I'm intentionally last summer or in the paint during the quota while we completed construction of cell 24 to sell his napkin plate and we are stacking on it.

Expiration that Mary golf focus mostly around the existing paid so can we drilled about 25000 made us with what is looking lockwood resolved.

I just moved to C V.

Savings collection was slightly about budget the annual Australoid restocking is done on the way is set for the the.

There was some new and additional underground mining equipment arrive on site, which will go to service on the coming months more on development is also in line with budget.

We've been very busy with exploration, let's see they drilling out to get hanging all on the sent to a hanging will looking to pull those into reserve and resource in the near term. We're also I'd drilling exploration of slots at Mac, North <unk> Fisher and we're sitting out from all work at Uhm ask where and I'm pretty bullish on the growth potential at but it's a grudge C. B S.

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Turner smashed reduction targets out of the park there were well over budget on convection in unit cost was significantly blood budget.

That's true Polka society greater than 4500 ton a day on your record along the way to change over to on a hold it from from.

Mm on to the plant spot it and then I pool and should further lower operating cost. We are reviewing the loss of them on planning at a higher processing right from pay now.

Moving to the expiration is slot on pretty much talked about all of these items T on until ready and so in summary for the business site. He was excellent production was about budget couple of blood budget kind of organic bright projects at banks are going to cost for the business and the operations and gripe teams.

Thank you very much back to your rug.

Thanks, you and thank you Alison so just to summarize.

As a as a whole mention a very strong quote on them to stop by financially and operationally.

What day now completed capital allocation framework and continuing strong free cash for a capital return to share how old is is P Lady while allowing us to growth.

With the operations delivering blood capital intensity growth.

Balance sheet in terrific shape and now on capital returns in place. We believe we will regain share price my Minton and offer an excellent long term investment choice for shareholders.

So with that Oh provider will pass to call on the 20 questions you might have.

Thank you well now I'm thinking the question and answer session to join the question Press Star one on your telephone keypad, you will hear a tone acknowledging your request.

You aren't giving a speaker phone please pick up your handset before pressing on 18th to withdraw on your question. Please press Star then too.

On for a moment as colors, killing me Kim.

The first question comes from Tyler in Lantana with J P. Morgan. Please go ahead.

Yeah, good afternoon, and thanks for taking my questions. You know I guess to start are you seeing any sort of inflationary pressures for like materials energy.

Labor and then I guess, just you know somewhat related with.

You know exchange rates.

I guess any details on maybe impact on cost.