# SSR Mining Reports First Quarter 2026 Results

Source Brief: https://evesgoldminers.com/research/source-briefs/ssr-mining-inc-2026-05-05-ssr-mining-reports-first-quarter-2026-results-3843b3b2
Original source: https://www.sec.gov/Archives/edgar/data/921638/000092163826000063/ssrminingreportsfirstquart.htm
Original published: 2026-05-05
EGM generated: 2026-09-04
Company: SSR Mining Inc. (SSRM)

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# SSR Mining Reports First Quarter 2026 Results

Source: https://www.sec.gov/Archives/edgar/data/921638/000092163826000063/ssrminingreportsfirstquart.htm
Published: 2026-05-05T00:00:00+00:00
Fetched: 2026-08-01T15:45:07.448+00:00
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# SSR Mining Reports First Quarter 2026 Results
Source: https://www.sec.gov/Archives/edgar/data/921638/000092163826000063/ssrminingreportsfirstquart.htm
Published: 2026-05-05
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ssrminingreportsfirstquart.htm
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Document News Release May 5, 2026 SSR MINING REPORTS FIRST QUARTER 2026 RESULTS DENVER - SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") reports consolidated financial results for the first quarter ended March 31, 2026. • Consolidated continuing operating results: First quarter 2026 production was 109,914 gold equivalent ounces at consolidated cost of sales of $1,727 per payable ounce and all-in sustaining costs (“AISC”) of $2,433 per payable ounce. (1) The first quarter operating results were well aligned with Company expectations and SSR Mining remains on track for full-year 2026 production guidance of 450,000 to 535,000 gold equivalent ounces. • Çöpler sale: On March 4, 2026, SSR Mining announced a binding memorandum of understanding to sell its 80% ownership stake in the Çöpler mine and related properties in Türkiye (collectively, “Çöpler”) to Cengiz Holding A.S. (“Cengiz”) for $1.5 billion in cash (the "Çöpler Transaction"). Subsequently, on March 24, 2026, the Company signed a definitive share purchase agreement formalizing the terms of the Çöpler Transaction. Çöpler is now classified as a discontinued operation in the Company’s financial reporting. The Çöpler Transaction is expected to close before the end of the third quarter of 2026. • Financial results: In the first quarter of 2026, the Company reported net income attributable to SSR Mining shareholders from continuing operations of $252.5 million, or $1.16 per diluted share, and adjusted net income attributable to SSR Mining shareholders from continuing operations of $250.1 million, or $1.15 per diluted share. In the first quarter of 2026, operating cash flow from continuing operations was $299.6 million and free cash flow from continuing operations was $210.8 million. Inclusive of costs incurred at Çöpler in the quarter, operating cash flow was $264.5 million and free cash flow was $175.2 million. • Cash and liquidity position from continuing operations: As of March 31, 2026, SSR Mining had a cash and cash equivalent balance of $634.1 million and total liquidity of $1,134.1 million, inclusive of the Company’s undrawn revolving credit facility and accompanying accordion feature. During the quarter, the Company announced the redemption of its Convertible Notes, which resulted in holders exercising rights to convert the Convertible Notes into SSR Mining common shares. As a result, the aggregate principal amount of $230.0 million of Convertible Notes was converted to 13.1 million common shares and the Company paid approximately $2.6 million in cash to redeem unconverted Convertible Notes, to fund required payments in connection with the conversion and redemption, and for other related costs incurred through the conversion and redemption process. As of March 31, 2026, SSR Mining had no significant long-term debt outstanding. In addition, during the quarter, SSR Mining made a $87.5 million contingent payment related to the Carlton Tunnel at CC&V. • Capital returns: On February 13, 2026, SSR Mining’s Board of Directors approved a share buyback program of up to $300 million and, on March 31, 2026, the Company received regulatory approval for its Normal Course Issuer Bid (“NCIB”). Subsequent to the quarter, SSR Mining completed approximately $300 million in share buybacks through the repurchase of 9.2 million shares. Since 2021, SSR Mining has now repurchased 29.2 million shares at an average price of $21.06 per share, delivering significant per share value accretion to shareholders. Total capital returned to shareholders since the start of 2021 is approximately $775 million. • Hod Maden: Following the sale of Çöpler, SSR Mining’s interest in the Hod Maden development project remains under strategic review. While this process is ongoing, SSR Mining expects to incur minimal capital costs. In the first quarter of 2026, SSR Mining made $30.6 million in growth capital investments at Hod Maden. An update on the Hod Maden strategic review is expected before the end of the third quarter. SSR MINING | PAGE 1 • Development & exploration: SSR Mining continues to advance key brownfield organic growth projects across the portfolio, including Buffalo Valley at Marigold, Cortaderas at Puna, and Porky at Seabee. These projects represent high-return development opportunities and have the potential to meaningfully extend the mine lives at each asset. SSR Mining remains on track to spend $35 million on growth exploration and resource development initiatives in 2026 as it aims to identify and advance growth targets across its portfolio. Rod Antal, Executive Chairman of SSR Mining, said, “The first quarter of 2026 marked a significant milestone for our business with the definitive agreement to sell our ownership in Çöpler for $1.5 billion in cash. This transaction, together with last year’s extremely successful acquisition of Cripple Creek & Victor, positions SSR Mining firmly in the Americas and re-establishes our Company as a leader in free cash flow generation. In the first quarter, we generated $300 million in operating cash flow and $211 million in free cash flow. Subsequent to quarter-end, we returned $300 million to shareholders through our share buyback program. Looking ahead, we are in the strongest financial position in our company’s history. We expect our low-risk, free cash flow leading Americas-focused platform to support a premium valuation as we regain our position as a leading mid-cap gold producer.” SSR MINING | PAGE 2 Financial and Operating Summary A summary of the Company's consolidated financial and operating results for the three months ended March 31, 2026 and March 31, 2025 are presented below: (in thousands, except per share data or otherwise stated) Three Months Ended March 31, 2026   2025  Financial Results Revenue $ 581,778 $ 316,618 Cost of sales $ 195,119 $ 136,641 Operating income $ 300,381 $ 106,784 Net income (loss) $ (115,152) $ 54,446 Net income from continuing operations $ 250,181 $ 89,174 Net income (loss) from discontinued operations $ (365,333) $ (34,728) Net income attributable to SSR Mining shareholders from continuing operations $ 252,476 $ 85,701 Basic net income per share attributable to SSR Mining shareholders from continuing operations $ 1.23 $ 0.42 Diluted net income per share attributable to SSR Mining shareholders from continuing operations $ 1.16 $ 0.40 Adjusted net income attributable to SSR Mining shareholders from continuing operations (1) $ 250,077 $ 88,474 Basic adjusted net income per share attributable to SSR Mining shareholders from continuing operations (1) $ 1.22 $ 0.44 Diluted adjusted net income per share attributable to SSR Mining shareholders from continuing operations (1) $ 1.15 $ 0.41 Cash provided by operating activities from continuing operations $ 299,608 $ 116,701 Cash provided by (used in) operating activities of discontinued operations $ (35,119) $ (34,365) Cash provided by operating activities $ 264,489 $ 82,336 Cash used in investing activities $ (86,269) $ (151,781) Cash provided by (used in) financing activities $ (78,219) $ 2,675 Continuing Operating Results Gold produced (oz) 82,314 75,869 Gold sold (oz) 83,893 77,708 Silver produced ('000 oz) 1,739 2,505 Silver sold ('000 oz) 1,833 2,374 Lead produced ('000 lb) (2) 8,162 11,489 Lead sold ('000 lb) (2) 8,917 12,053 Zinc produced ('000 lb) (2) 1,024 758 Zinc sold ('000 lb) (2) 737 262 Gold equivalent produced (oz) (3) 109,914 103,805 Gold equivalent sold (oz) (3) 112,993 104,185 Average realized gold price ($/oz sold) $ 4,770 $ 2,935 Average realized silver price ($/oz sold) $ 91.79 $ 32.47 Cost of sales per gold equivalent ounce sold (3) $ 1,727 $ 1,312 Cash cost per gold equivalent ounce sold (1,3) $ 1,611 $ 1,206 AISC per gold equivalent ounce sold (1,3) $ 2,433 $ 1,749 Financial Position From Continuing Operations March 31, 2026 December 31, 2025 Cash and cash equivalents $ 634,086   $ 524,750 Current assets $ 3,668,884   $ 1,287,121 Total assets $ 5,946,734   $ 6,093,898 Current liabilities $ 688,673   $ 618,357 Total liabilities $ 1,517,971   $ 1,779,644 Working capital (4) $ 2,980,211   $ 668,764 (1) The Company reports non-GAAP financial measures including adjusted net income (loss) attributable to SSR Mining shareholders from continuing operations, adjusted net income (loss) per share attributable to SSR Mining shareholders from continuing operations, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. See “Non-GAAP Financial Measures” at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to net income (loss), and cost of sales, which are the most comparable GAAP financial measures. Cost of sales excludes depreciation, depletion, and amortization. (2) Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate. (3) Effective January 1, 2026, the Company calculates gold equivalent ounces (“GEOs”) using a fixed silver-to-gold ratio of 63:1. In prior periods, GEOs were calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include by-products in the GEO calculations. GEOs sold may not re-calculate based on amounts presented in this table due to rounding. (4) Working capital is defined as current assets less current liabilities. SSR MINING | PAGE 3 Marigold, USA For the three months ended March 31, 2026 and 2025, Marigold produced 37,730 and 38,586 ounces of gold, respectively. During the first quarter of 2026, Marigold reported cost of sales of $1,813 per payable ounce and AISC of $2,365 per payable ounce. The Company remains on track for full-year 2026 production guidance for Marigold of 170,000 to 200,000 ounces of gold at mine site cost of sales of $1,720 to $1,790 per payable ounce and AISC of $2,320 to $2,390 per payable ounce. Production at Marigold remains approximately 55 to 60% weighted to the second half of 2026. Sustaining capital spend at Marigold totaled $21.0 million in the first quarter and remains on track with full-year guidance of $106 million, with sustaining capital expected to increase in the second and third quarters due to the timing of spend on fleet replacements and upgrades. Accordingly, AISC are now expected to peak in the second quarter of 2026. SSR Mining is advancing growth initiatives across Marigold, including Buffalo Valley, with an updated life of mine plan incorporating these potential growth opportunities expected over the next 12 months. Ongoing exploration and evaluation of other brownfield targets, including New Millennium, Marigold North, and DG80, continues in support of longer-term growth and mine life extension. Three Months Ended March 31, Operating Data 2026   2025  Gold produced (oz) 37,730 38,586 Gold sold (oz) 39,509 40,408 Ore mined

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