Silver Standard Resources Q2 Earnings Call Highlights

Strong balance sheet and shareholder returns: SSR Mining received approximately $1.5 billion from the Çöpler sale, ending the quarter with nearly $1.8 billion in cash and no debt.

It returned $338 million to shareholders through buybacks and reinstated its quarterly dividend.

Production guidance maintained amid cost pressure: The company produced 102,000 gold-equivalent ounces in Q2 and expects to meet full-year production targets, though all-in sustaining costs are trending toward the upper end of guidance due to fuel prices, sustaining capital and growth investments.

Focus on organic growth: SSR Mining plans to increase investment in mine-life extensions across Marigold, CC&V, Seabee and Puna while advancing projects including Porky West, Amisk and Nevada exploration targets.

Management said acquisitions remain possible but will be pursued cautiously.

Silver Standard Resources NASDAQ: SSRM , operating as SSR Mining, said its second-quarter results were in line with expectations as the company completed its exit from Türkiye, strengthened its cash position and outlined plans to increase investment in mine-life extensions across its Americas-focused portfolio.

Executive Chairman Rodney P. Antal said the company received approximately $1.5 billion in cash proceeds from the sale of the Çöpler mine before the end of the quarter.

SSR Mining ended the period with nearly $1.8 billion of cash and no debt, even after repurchasing shares during the quarter.

Çöpler and the Hod Maden project are now reported as discontinued operations.

“We enter the second half with momentum,” Antal said, pointing to expected higher production and free-cash-flow generation in the latter part of 2026.

The company said it expects to meet its full-year production guidance, though all-in sustaining costs are now expected to trend toward the upper end of guidance ranges.

SSR Mining produced 102,000 gold-equivalent ounces during the second quarter at all-in sustaining costs of $2,622 per ounce.

Revenue totaled $443 million on sales of 98,000 gold-equivalent ounces.

The company reported net income and adjusted net income of $0.66 per diluted share.

Average realized prices were $4,301 per ounce of gold and $74.24 per ounce of silver.

Chief Financial Officer Michael J. Sparks said the realized gold price was about 5% below the quarterly average because a larger portion of second-quarter ounces was sold in June, when gold prices were lower.

Free cash flow from continuing operations was $50 million in the quarter and nearly $300 million year to date, including working-capital changes.

Free cash flow before working-capital changes was $123 million in the second quarter.

The company also made more than $120 million in cash tax payments, which Sparks said reflected its normal annual tax-payment cycle.

SSR Mining returned $338 million to shareholders during the quarter through the repurchase of 10.4 million shares and announced the reinstatement of its quarterly dividend.

The company has a $500 million share-repurchase program approved in mid-June.

As of July 31, it had capacity to repurchase about 8.6 million additional shares under its current normal course issuer bid, which runs through March 2027.

The company also amended and extended its revolving credit facility, increasing it to $600 million from $400 million.

The renewed facility has a four-year term and borrowing rates that are 25 basis points lower than under the prior agreement.

Management attributed expected cost pressure to higher realized fuel prices, increased sustaining capital and accelerated growth investm...