VANCOUVER, Feb. 20, 2020 /CNW/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") reports consolidated financial results for the fourth quarter and year ended December 31, 2019.

Paul Benson, President and CEO said, "SSR Mining had another successful year in 2019 as we continued our track record of achieving production and cost guidance for the eighth consecutive year. We delivered reserve growth at Marigold and resource growth at Seabee, which continue to support mine life extensions at both assets.

Looking ahead, 2020 consolidated production is forecast to grow to approximately 425,000 gold equivalent ounces. With over $500 million of cash and an outlook of increasing production and higher margins at today's precious metal prices, we are well positioned to continue our track record of creating value for our shareholders."

Fourth Quarter and Year-End 2019 Highlights:
(All figures are in U.S. dollars unless otherwise noted)
• Achieved annual production and cost guidance: Achieved guidance for the eighth consecutive year by delivering gold equivalent production of 421,828 ounces at cash costs of $740 per payable gold equivalent ounce sold. (1)
• Continued our track record of Mineral Reserves and Resources growth: Successful exploration activities in 2019 increased gold Mineral Reserves at the Marigold mine to 3.9 million ounces. At the Seabee Gold Operation, gold Measured and Indicated Mineral Resources (inclusive of Mineral Reserves) increased to 1.1 million ounces and gold Inferred Mineral Resources increased to 583,000 ounces.
• Fourth consecutive year of positive earnings per share: Annual basic attributable income per share in 2019 was $0.47, an increase of 840% from 2018. Annual adjusted basic attributable income per share in 2019 was $0.81, a 252% increase from 2018. (1)
• Delivered record annual gold production at Seabee: The operation achieved its sixth consecutive annual production record, producing 112,137 ounces of gold, exceeding the top end of our annual guidance. Annual cash costs were $464 per payable ounce of gold sold. (1)
• Strong operating performance at Marigold: Delivered gold production of 59,186 ounces for the fourth quarter of 2019, resulting in annual production of 220,227 ounces of gold, marking an annual production record and exceeding the top end of our annual guidance. Reported annual cash costs of $811 per payable ounce of gold sold. (1)
• Successful ramp-up of Puna: Produced 7.7 million ounces of silver in 2019 at annual cash costs of $10.38 per payable ounce of silver sold.(1) Strong fourth quarter results with production of 2.1 million ounces of silver and cash costs of $8.90 per payable ounce of silver sold (1), demonstrating operational improvements made through the year.
• Acquired 8,900 hectares contiguous to the Marigold mine: Prospective land package on trend with several zones of gold mineralization.
• Consolidated 100% ownership in Puna Operations: Completed acquisition of the remaining 25% interest in Puna Operations leading to an immediate increase in silver production and improved operational flexibility.
• Maintained strong liquidity and balance sheet: Cash balance increased to $504 million and the value of marketable securities increased to $66 million.
• Completed $230 million convertible notes offering: Issued $230 million aggregate principal amount of 2.50% unsecured convertible senior notes on March 19, 2019. A portion of the proceeds was used to repurchase $150 million of our outstanding $265 million 2.875% convertible notes.
• Published inaugural Sustainability Report: Report outlines our approach to sustainability and underscores our commitment to transparency with our stakeholders.

(1)
We report the non-GAAP financial measures of cash costs per payable ounce of gold and silver sold and basic attributable income per share to manage and evaluate operating performance. See "Cautionary Note Regarding Non-GAAP Measures".

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