SSR Mining Ord Shs T.SSRM

Comparison SSRM and Kirkland lake gold

[grasspriet11]

PI, I think KL and SSRM will both do well  the coming years.   But for me there is a difference in safety, quality  and communication   

KL : 100 % safe jurisdictions : Canada and Australia.  

SSRM : 50 % of total prduction comes from Turkey ( AU) an Argentina  (AG).  When something happens in these countries you will not be happy.  This is a risk you don't need to take.  

AISC : 

KL : 780 usd/oz  It will go further down the coming quarters - years. 

SSRM : 961 usd/oz

I have a big problem with the financial report of SSRM   The report of yesterday does not mention the AISC of the lower grade (0,44 gr/t mine) Marigold mine.   This is important information for the shareholders    For the other higher grade mines they mentioned the AISC.  
SSRM does not give the complete information.  
In a presentation of SSRM I can see that the expected AISC for the Marigold for 2021 will be between 1250 usd and 1290 usd    I think the no news is bad news and that the AISC for that mine was higher the last quarter.

PI I supose  you are also not happy with the SSRM communication   You really can not be.  

The Seabee mine of SSRM had a very good Q2 result.   A high grade and a low AISC.   The problem here is that they are now mining in a high grade part that will not last.  I expect a lower grade and a higher AISC in H2.  (They are now mining at the bottom of Dantoy Lower 9 zone)

Debt :

KL is totally debt-free   

SSRM has a debt of 407 million usd   

I know you left KL because of the Fosterville mine.   
What is very important is that the new twin underground exploration ramp which is finished now is extremely important for the exploration in the Fosterville mine and Robbin's Hill    Now they have a big new platform from where they can do the drilling work in the Fosterville mine and in Robbin's Hill.    The real drilling can start now.    I really expect positive news at the end of the year.

Leaving KL was choosing for more risk - less quality and CERTAINLY LESS COMMUNICATION     A company with no good information is VERY FRUSTRATING for me.  

Good Luck PI

[prouditalian]

so far so good. My swap is up over 5% already. I see much more risk with Fosterville than you. So far over the past year and more the exporation failures have been epic....and once Fosterville is closed AISIC will go up tremendously for KL. GL.

[grasspriet11]

I will explain in detail why you are wrong about the AISC for Kirkland lake gold.   1/Last year the Detour Lake mine of Kirkland lake gold produced 516.757 ounces of gold with an AISC of 1.161 usd/oz.  This year Detour xill produce 700.000 ounces with an AISC of 844 usd.    Based on the new 2022 mine plan they will reach as early as possible (2023) 900.000 ounces with

[Partypanther21]

Lol! Read the entire report and you might see the data you're looking for. Page 12 has AISC for Marigold of $1,174 in the quarter and $1,227 for 1H. So AISC are declining at Marigold. Secondly, for SSRMs debt, they are in a net cash position!! Yes they have $400M of debt, but they have $900M of cash. How can that be a concern for you lol?!? They are also paying down that debt at approx. $20M

[grasspriet11]

SSR mining is certainly a good company.  Normally I don't follow SSRM.   But because PI posted at the Kirkland forum that he sold all his KL shares and invested it in SSRmining I wanted to make the comparison.   I rest with my case that the company has to mention the AISC of the 4 mines in the FINANCIAL REPORT.  They only mention the good ones.   That is not done.