SSR MINING INC.
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 4, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Puna, Argentina
| Three Months Ended June 30, | Six Months Ended June 30, | |||||
|---|---|---|---|---|---|---|
| Operating Data | 2026 | 2025 | Change (%) | 2026 | 2025 | Change (%) |
| Silver produced ('000 oz) | 1,661 | 2,849 | (41.7)% | 3,399 | 5,354 | (36.5)% |
| Silver sold ('000 oz) | 1,506 | 2,534 | (40.6)% | 3,339 | 4,909 | (32.0)% |
| Lead produced ('000 lb) | 7,131 | 13,877 | (48.6)% | 15,293 | 25,365 | (39.7)% |
| Lead sold ('000 lb) | 7,304 | 12,058 | (39.4)% | 16,221 | 24,111 | (32.7)% |
| Zinc produced ('000 lb) | 963 | 1,125 | (14.4)% | 1,987 | 1,883 | 5.5% |
| Zinc sold ('000 lb) | 889 | 1,279 | (30.5)% | 1,627 | 1,541 | 5.6% |
| Gold equivalent sold (oz) (1) | 23,903 | 25,997 | (8.1)% | 53,002 | 52,396 | 1.2% |
| Average realized silver price ($/oz) | $74.24 | $35.24 | 110.7% | $83.88 | $33.90 | 147.4% |
| Ore mined (kt) | 299 | 475 | (37.1)% | 372 | 1,102 | (66.2)% |
| Waste removed (kt) | 1,939 | 1,592 | 21.8% | 4,078 | 2,681 | 52.1% |
| Total material mined (kt) | 2,238 | 2,067 | 8.3% | 4,450 | 3,783 | 17.6% |
| Ore milled (kt) | 491 | 492 | (0.2)% | 1,000 | 946 | 5.7% |
| Silver mill feed grade (g/t) | 111.15 | 186.62 | (40.4)% | 111.65 | 182.38 | (38.8)% |
| Lead mill feed grade (%) | 0.73 | 1.36 | (46.3)% | 0.77 | 1.29 | (40.3)% |
| Zinc mill feed grade (%) | 0.24 | 0.26 | (7.7)% | 0.23 | 0.23 | —% |
| Silver recovery (%) | 94.7 | 96.5 | (1.9)% | 94.7 | 96.5 | (1.9)% |
| Lead recovery (%) | 89.9 | 94.0 | (4.4)% | 89.6 | 94.3 | (5.0)% |
| Zinc recovery (%) | 36.7 | 39.6 | (7.3)% | 38.4 | 39.6 | (3.0)% |
| Cost of sales (2) | $43,325 | $38,096 | 13.7% | $90,819 | $74,915 | 21.2% |
| Cost of sales ($/oz silver sold) (2) | $28.77 | $15.03 | 91.4% | $27.20 | $15.26 | 78.2% |
| Cost of sales ($/oz gold equivalent sold) (1, 2) | $1,813 | $1,465 | 23.8% | $1,714 | $1,430 | 19.9% |
| Cash costs ($/oz silver sold) (3) | $22.30 | $9.98 | 123.4% | $21.03 | $10.45 | 101.2% |
| Cash costs ($/oz gold equivalent sold) (1, 3) | $1,405 | $972 | 44.5% | $1,325 | $979 | 35.3% |
| AISC ($/oz silver sold) (3) | $29.52 | $12.57 | 134.8% | $26.02 | $12.85 | 102.5% |
| AISC ($/oz gold equivalent sold) (1, 3) | $1,860 | $1,225 | 51.8% | $1,639 | $1,204 | 36.1% |
(1)Effective January 1, 2026, the Company calculates gold equivalent ounces using a fixed silver-to-gold ratio of 63:1. In prior periods, gold equivalent ounces were calculated by 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 gold equivalent ounce calculations. Gold equivalent ounces sold may not recalculate based on amounts presented in this table due to rounding.
(3)The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of silver sold to manage and evaluate operating performance at Puna. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to Cost of sales, which is the comparable GAAP financial measure.
Silver production decreased 41.7% primarily due to lower silver mill feed grade. Revenue increased by $19.9 million, or 19.4%, of which $58.7 million was due to a higher average realized silver price and $1.7 million was due to higher average realized lead price, partially offset by $36.2 million due to fewer silver ounces sold and $4.5 million due to lower volume of lead concentrate sold. Cost of sales increased by $5.2 million, or 13.7%, due to higher labor costs as a result of inflationary increases in wage rates. Cost of sales per ounce of silver sold and cash costs per ounce of silver sold increased by 91.4% and 123.4%, respectively, due to fewer silver ounces sold. AISC per ounce of silver sold increased by 134.8% primarily due to higher cash costs per ounce of silver sold and higher sustaining capital expenditures related to increased spend on asset components.
Silver production decreased 36.5% primarily due to lower silver mill feed grade. Revenue increased by $110.8 million, or 58.2%, of which $166.9 million was due to a higher average realized silver price and $3.4 million was due to a higher realized lead price, partially offset by $53.2 million due to lower silver ounces sold and $7.3 million due to a lower volume of lead concentrate sold. Cost of sales increased by $15.9 million, or 21.2%, due to higher labor costs as a result of inflationary increases in wage rates and royalty costs. Cost of sales per ounce of silver sold and cash costs per ounce of silver sold increased by 78.2% and 101.2%, respectively, due to fewer silver ounces sold. AISC per ounce of silver sold increased by 102.5% due to higher cash costs per ounce of silver sold and higher sustaining capital expenditures related to the replacement of ore transportation trucks and increased spend on asset components.
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