8/5/2025

speaker
Operator
Conference Call Operator

Hello everyone and welcome to SSR Mining's second quarter 2025 conference call. This call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Alex Hunchek from SSR Mining. Please go ahead.

speaker
Alex Hunchek
Director of Investor Relations

Thank you operator and hello everyone. Thank you for joining today's conference call to discuss SSR Mining's second quarter financial results. Our consolidated financial statements have been presented in accordance with US GAAP. These financial statements have been filed on EGDAR 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 US 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 comparable GAAP measures. Rod Antle, Executive Chairman, will be joined by Michael Sparks, Chief Financial Officer, and Bill McNevin, EDP Operations and Sustainability on today's call. I will now turn the line over to Rod.

speaker
Rod Antle
Executive Chairman

Great. Thank you, Alex, and good afternoon to you all. It is pleasing to report a really good quarter that progressed largely to plan. Despite the temporary suspension at CB due to the forest fire, we had a very strong quarter that generated both good operating results and significant free cash flow. We continue to work constructively with the relevant authorities in Turkey to advance the restart of the Chirpler Mine, including progressing the various engineering plans and design documents. This includes the closure plans for the heap leach pan and the issued for construction documents for the e-storage facility. While this is another step forward, we cannot yet provide a definitive timeline for a restart. Another key milestone was achieved at Pooner in the quarter. We have developed a plan that will extend the mine life at Chinchillas by an initial three-year period through to 2028. Further, we will continue to evaluate other opportunities, including advancing the studies at Cordaderas. Other notable highlights in quarter two include we had consolidated free cash flow generation of nearly $100 million, reiterating the strength of our Americas platform. We had a strong first full quarter from Cripple Creek and Victor, which itself generated excellent free cash flow, delivering on one of the main strategic rationales of the acquisition. And lastly, we continue to advance the Hot Madden project towards a construction decision, including $29 million in capital expenditure year to date. As we move into the second half of the year, we have a number of meaningful catalysts remaining on the horizon. These include the release of a technical report and life and mine plan for Cripple Creek and Victor, initially based on existing mineral reserves, and of course the advancement of the Hot Madden project towards a construction decision. Across the portfolio, we will continue to evaluate further organic growth initiatives at Buffalo Valley and New Millennium at Marigold, the Porkish target at CB and the Cordaderas target at Toona. Of course, the top priority is continuing to advance Chirpler to a restart. As you can see, we've already delivered on a number of our key priorities and demonstrated strong operating performance in the first half. This is particularly pleasing when you overlay the heavy lift of resources required for the very successful integration of Cripple Creek and Victor. And now I'm going to turn the call over to Michael to take you through the quarter two financials starting on slide number four.

Disclaimer

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