SSR Mining, a prominent player in the gold mining sector, has encountered a significant setback with the suspension of operations at its Çöpler mine in Turkey. The company announced the halt following a notable slip on the heap leach pad earlier today, prompting an immediate cessation of mining activities at the site.
The news has sent shockwaves through the market, reflected in the drastic drop in SSR Mining’s stock price. After closing Monday’s session at $9.72, the stock opened trading today at $8.25, continuing its downward trajectory as the day progresses.
At the time of this publication, SSR Mining Inc stock (SSRM) has witnessed a decline.
SSR Mining Inc
Current Price: $3.82
Change : -5.91
Change (%): (-60.75%)
Volume: 45.5M
Source: Tomorrow Events Market Data
While SSR Mining has not disclosed the specifics surrounding the cause of the slip or the potential impact on production, the sudden suspension of operations at Çöpler, one of its key mines, raises concerns about the company’s output. With Çöpler being one of SSR Mining’s four producing mines, the incident could potentially disrupt the company’s overall performance. Over the past three years, SSR Mining’s assets have consistently contributed to an average annual production of over 700,000 gold-equivalent ounces.
In response to the unfolding situation, SSR Mining’s senior leadership team has scheduled a conference call today to address the current state of operations and provide insights into the company’s strategic direction. Investors, analysts, and media representatives are invited to participate in the call or access the webcast for further information.
The conference call will be accessible in the U.S. and Canada through a toll-free number, with international participants able to dial in separately. An audio replay of the call will also be available for a two-week period following the event, offering stakeholders an opportunity to catch up on key developments.
SSR Mining Inc., known for its commitment to generating free cash flow, maintains a diverse portfolio of production and development assets across North America, South America, and Turkey. The company is publicly traded, with listings on the Nasdaq, TSX, and ASX under the ticker symbols SSRM and SSR, respectively. As the situation unfolds, investors and industry observers will closely monitor SSR Mining’s response and the potential implications for its operations and financial performance.
