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
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Seabee, Canada
| Three Months Ended June 30, | Six Months Ended June 30, | |||||
|---|---|---|---|---|---|---|
| Operating Data | 2026 | 2025 | Change (%) | 2026 | 2025 | Change (%) |
| Gold produced (oz) | 16,817 | 10,998 | 52.9% | 23,103 | 36,999 | (37.6)% |
| Gold sold (oz) | 15,700 | 10,350 | 51.7% | 21,837 | 36,350 | (39.9)% |
| Average realized gold price ($/oz sold) | $4,158 | $3,335 | 24.7% | $4,292 | $3,048 | 40.8% |
| Ore mined (kt) | 106 | 66 | 60.6% | 187 | 148 | 26.4% |
| Ore milled (kt) | 112 | 68 | 64.7% | 188 | 158 | 19.0% |
| Gold mill feed grade (g/t) | 4.95 | 5.22 | (5.2)% | 4.17 | 7.38 | (43.5)% |
| Gold recovery (%) | 96.5 | 96.6 | 0.1% | 95.7 | 97.0 | (1.3)% |
| Cost of sales (1) | $27,016 | $18,473 | 46.2% | $48,261 | $41,604 | 16.0% |
| Cost of sales ($/oz gold sold) (1) | $1,721 | $1,785 | (3.6)% | $2,210 | $1,145 | 93.0% |
| Cash costs ($/oz gold sold) (2) | $1,721 | $1,786 | (3.6)% | $2,211 | $1,145 | 93.1% |
| AISC ($/oz gold sold) (2) | $2,358 | $2,708 | (12.9)% | $3,396 | $1,754 | 93.6% |
(2)The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Seabee. 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.
Gold production increased 52.9% primarily due to higher mill throughput in 2026 compared to 2025 as a result of the temporary suspension of operations in 2025. Revenue increased by $30.8 million, or 89.1%, of which $17.9 million was due to more gold ounces sold and $12.9 million was due to higher average realized gold price. Cost of sales increased by $8.5 million, or 46.2%, due to higher gold ounces sold. Cost of sales per ounce of gold sold and cash costs per ounce of gold sold were consistent for the three months ended June 30, 2026 and 2025. AISC per ounce of gold sold decreased 12.9% due to higher gold ounces sold.
Gold production decreased 37.6% primarily due to lower gold mill feed grade. Revenue decreased by $17.1 million, or 15.4%, of which $44.2 million was due to fewer gold ounces sold, partially offset by $27.2 million due to a higher average realized gold price. Cost of sales increased by $6.7 million, or 16.0%, due to higher milling and labor costs. Cost of sales per ounce of gold sold and cash costs per ounce of gold sold increased 93.0% and 93.1%, respectively, due to fewer gold ounces sold. AISC per ounce of gold sold increased 93.6% primarily due to higher cash cost per ounce of gold sold and higher sustaining capex related to the purchase of four haul trucks in 2026.
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