11/4/2025

speaker
Operator
Conference Call Operator

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

speaker
Alex Suncheck
Director, Investor Relations

Thank you, operator, and hello, everyone. Thank you for joining today's conference call to discuss SSR Mining's third quarter financial results. Our consultative 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 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 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 will now turn the line over to Rod.

speaker
Rod Antle
Executive Chairman

Great. Thanks, Alex, and good afternoon to you all. Our third quarter results have us tracking close out the year in the lower half of our production guidance, where we continue to expect a stronger fourth quarter. Our full year oil and sustaining costs are trending towards the high end of annual guidance, and this is largely due to the impacts of higher gold prices on royalties, as well as the share price performance over the year to date impacting share based compensation calculations. Generally, the third quarter results were in line with our expectations. Before working capital adjustments, we generated $72 million of free cash flow and we maintained a very healthy cash and liquidity profile to support the continued investment in growth opportunities across the business. We also made great progress on a number of other initiatives in the quarter. The Cripple Creek and Victor technical report should be ready for publication in the coming weeks. This will provide our initial view of the potential at Cripple Creek, where the technical report will feature mineral reserves that are aligned with the already in progress Amendment 14 expansion permit. At Hod Madden, we have now spent $44 million advancing the project this year and remain on track for our full year growth capital guidance of $60 to $100 million. A key milestone of the work this year will be the comprehensive update included with the new technical report. This will form the basis of the project and construction decision in the coming months. To this end, Hod Madden remains one of the most compelling undeveloped copper gold projects in the entire sector, and work completed to date reinforces our view of extremely attractive asset returns. Across the rest of the portfolio, we have continued to make great progress in advancing organic development projects, including Buffalo Valley at Marigold, Porky at Seabee, and Cortaderas at Puna. We're seeing some very encouraging results from the summer drill campaigns across all of these targets, where we hope to emulate the initial success of adding the initial three years of mine life extension at Puna. Bill will speak more of this later in the call. And lastly, we continue to make good progress at Cherbla and remain fully committed to a restart. We are in close communication with the relevant government authorities as we seek approvals to bring the mine back online. Overall, it was a solid quarter and as expected, with good progress made on a number of initiatives across the portfolio. So now I'm going to call, send a call over to Michael to bring you through the quarter three financials, starting on slide number four. Thank you, Rod.

Disclaimer

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