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SSR Mining Reports Third Quarter 2020 Results and Announces Dividend Policy
ADJUSTED ATTRIBUTABLE EPS OF $0.49 PER SHARE DENVER, Nov. 12, 2020 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) ("SSR Mining") reports
About this update from Ssr Mining Inc.
[{"type":"text","content":"ADJUSTED ATTRIBUTABLE EPS OF $0.49 PER SHARE\n DENVER, Nov. 12, 2020 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) (\"SSR Mining\") reports consolidated financial results for the third quarter ended September 30, 2020.\nRod Antal, President and CEO said, \"With the transformational merger with Alacer Gold finalized, integration efforts near completion, and our operations running at steady state following COVID-19 interruptions, the focus has turned towards delivering a number of value enhancing catalysts before year-end. \nFrom a growth perspective, we intend on publishing the Çöpler technical report and global exploration updates in the coming weeks. Operationally, we anticipate a robust fourth quarter with strong free cash flow generation, further strengthening our balance sheet. This continued peer-leading free cash flow generation has allowed us to put in place a dividend policy beginning in the first quarter of 2021. Our capital allocation strategy is intended to balance investment in high-return growth opportunities, maintaining peer leading financial strength, and providing sustainable capital returns to shareholders. A recurring quarterly dividend is expected to be the primary method of capital return, and we will periodically evaluate supplementing this dividend from trailing excess attributable free cash flow through incremental dividends and/or share buyback programs.\"\nThird Quarter 2020 Highlights:(All figures are in U.S. dollars unless otherwise noted)\nClosed zero-premium merger with Alacer: Completed the transaction with Alacer to create a leading intermediate precious metals producer with robust margins, strong free cash flow generation and long mine lives led by a highly experienced leadership team with a track record of value creation.Dividend policy announced: On November 12, 2020, the Board approved the initiation of a quarterly cash dividend of $0.05 per share beginning in the first quarter of 2021. In addition, the Board will periodically consider supplementing the quarterly dividend from trailing excess attributable free cash flow in the form of incremental dividends and/or share buyback programs.On-track to meet full year 2020 updated production guidance: Year-to-date production of 491,821 gold equivalent ounces across the four operations.(1)Updated full year 2020 outlook on compl...