5/6/2025

speaker
Operator
Conference Operator

Hello, everyone, and welcome to SSR Mining's first quarter 2025 conference call. Please be advised that this call is being recorded. Should anyone need assistance during the conference call, they may signal an operator by pressing star then zero. At this time, for opening remarks and introductions, I would like to turn the call over to Alex Honchak from SSR Mining. Please go ahead.

speaker
Alex Honchak
Senior Vice President, Investor Relations

Thank you, operator, and hello, everyone. Thank you for joining today's conference call to discuss SSR Mining's first quarter financial results. Our consolidated financial statements have been presented in accordance with U.S. GAAP. These financial statements have been filed on EDGAR and CDAR, and they are also available on our website. There is an online webcast accompanying this call, and you will find the information to access the webcast in this afternoon's news release and on our corporate website. Please note that all figures discussed during the call are in U.S. dollars unless otherwise indicated. Today's discussion will include forward-looking statements, so please read the disclosures in the relevant documents. Additionally, we will refer to non-GAAP financial measures during our discussion and in the accompanying slides. Please see our press release for information about the comparable GAAP measures. Rod Antle, Executive Chairman, will be joined by Michael Sparks, Chief Financial Officer, and Bill McNevin, EVP Operations and Sustainability, on today's call. I'll now turn the line over to Rod.

speaker
Rod Antle
Executive Chairman

Great. Thanks, Alex, and good afternoon to you all. The first quarter results marked a strong start to the year for SSR. All of our operations performed well against our plans, which drove the solid financial results, including nearly $40 million in free cash flow generation. The first quarter also included a month of production from Cripple Creek and Victor as we closed the transaction and formally welcomed the CC&V team into SSR at the end of February. It is pleasing to note that our efforts and planning for this transaction and transition have gone very well. The integration has been extremely smooth so far, and while there is still more work to be done, so far we are encouraged and confident we have added a core asset to the portfolio. Following the CC&V transaction closed, we issued our full-year 2025 operating guidance showing a year-over-year increase in production. The guidance also outlined our plans for meaningful investment at Hot Madden as we progressed this terrific asset towards a full construction decision. We ended 2025 focused on a strong start to the year through operational delivery, which we achieved. And we will continue to build from this over the remainder of 2025. In addition, we have a number of important priorities and catalysts on the horizon over the next 12 months. These include the delivery of a technical report and life of mine plan to Cripple Creek and Victor. The advancement of Hod Madden towards a construction decision. The continued progress on an updated and extended life and mind for Puna towards the end of the decade through the potential layback at Chinchillas and evaluation of the longer term potential at Cortaderas. advancement of the buffalo valley deposit of marigold which now hosts more than 500 000 ounces in its maiden reserve and of course our top priority is continuing to advance chirpler to a restart this is a package of work that we are actively engaging and progressing with regulators in various government departments this includes the approval of the east storage facility design as well as closure and remediation plans for the heat bleach pad. We anticipate that once these plans are agreed, we will then seek appropriate permits to restart the operation. Good progress is being made and while we remain confident of a restart, I am unable to provide any more detail of when and if these permits will be received. All of these efforts are focused on one key goal, delivering additional value for our shareholders, and I look forward to providing further updates on these initiatives throughout the year. So now I'm going to turn the call over to Michael on to the financial results, which are on slide four.

Disclaimer

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