SSR Mining (SSRM) Sells Copler Mine for $1.5 Billion

AI Summary

SSR Mining (SSRM) sold its 80% stake in the Copler Mine in Turkey for $1.5 billion, enhancing its balance sheet and increasing its cash reserves to $2.134 billion. The company generated $242 million in free cash flow last year, with $211 million in the first quarter alone. With a focus on lower-risk projects, SSR Mining aims to increase production to 450,000-535,000 gold equivalent ounces in 2026. The sale allows for potential acquisitions or dividends while mitigating exposure to rising diesel prices, as 70% of fuel usage is hedged.