10-Q 1 ssrm-20220630.htm 10-Q ssrm-20220630
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended June 30, 2022
or
   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________to__________
Commission File Number: 001-35455
SSR MINING INC.
(Exact name of registrant as specified in its charter)

British Columbia
(State or Other Jurisdiction of Incorporation or Organization)
98-0211014
(I.R.S. Employer Identification No.)
Suite 1300 - 6900 E. Layton Ave, Denver, Colorado, 80237
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code (303) 292-1299

Securities registered pursuant to Section 12(b) of the Act.
Title of each classTrading symbolName of each exchange on which registered
Common shares without par valueSSRMThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     ☒ Yes     ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     ☒ Yes     ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12-b2 of the Exchange Act.
1


Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12-b2 of the Exchange Act).      Yes     No
There were 208,623,220 common shares outstanding on July 29, 2022.

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TABLE OF CONTENTS
Page
PART I - FINANCIAL INFORMATION
PART II - OTHER INFORMATION
1


PART I - FINANCIAL INFORMATION
SECOND QUARTER 2022 HIGHLIGHTS (dollars, except per share, per ounce and per pound amounts)
Solid quarterly operating performance: Delivered second quarter production of 159,262 gold equivalent ounces, and first half production of 333,201 gold equivalent ounces.

Strong financial results: Attributable net income in the second quarter was $58.5 million, or $0.27 per diluted share, and adjusted attributable net income was $66.8 million, or $0.30 per diluted share. For the six months ending June 30, 2022, operating cash flow was $95.0 million and free cash flow was $18.7 million. (1)

Renewed commitment to peer-leading capital returns: On June 16, 2022, the Company announced a Normal Course Issuer Bid (“NCIB”) permitting SSR Mining to purchase for cancellation up to 10,600,000 common shares of the Company representing approximately 5.0% of SSR Mining’s total issued and outstanding common shares. At the end of the second quarter, the Company had repurchased a total of 797,842 of its outstanding common shares at an average share price of $18.38 per share. During the second quarter, the Board declared a quarterly cash dividend of $0.07 per share.

Balance sheet reinforces business resiliency: At the end of the second quarter, the Company had a cash and cash equivalents balance of $938.6 million, after $35.6 million in scheduled debt repayments, $30.1 million in dividend payments to equity shareholders, $14.7 million in share repurchases, and $30.8 million in dividends to joint venture partners in the first half of 2022.

Russell 1000® Index inclusion: On June 27, 2022, the Company was incorporated into the Russell 1000® Index as well as the broad-market Russell 3000® Index as part of the annual reconstitution of the Russell indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.0 trillion in assets are benchmarked against Russell’s US indexes. We believe the inclusion in these indexes is expected to increase the Company’s exposure in the investment community and provide an opportunity to expand our shareholder base.

2021 ESG and Sustainability Report: On April 14, 2022, the Company published its fourth annual ESG and Sustainability Report. The report outlines the Company’s approach to sustainability across a range of areas, including health & safety, environment, communities and diversity, as well as summarizes our 2021 ESG performance.

Completed the sale of the Pitarrilla project: Subsequent to the quarter, on July 6, 2022 the Company announced the closing of the sale of the Pitarrilla project to Endeavour Silver Corp. (“Endeavour Silver”) following receipt of all required regulatory approvals and customary closing conditions. As consideration for the sale, the Company received $35.0 million in cash, $35.0 million in shares of Endeavour Silver, and a 1.25% net smelter return royalty on the Pitarrilla property. The sale was originally announced on January 13, 2022.

Closed the acquisition of Taiga Gold Corp.: On April 14, 2022, the Company completed the acquisition to acquire all of the issued and outstanding shares of Taiga Gold Corp. (CSE: TGC) (“Taiga Gold”) at a price of CAD $0.265 per Taiga Gold share, representing an aggregate consideration of approximately $24.5 million. The transaction materially expands the Company’s presence in Saskatchewan, Canada, a core jurisdiction, by adding five new properties, covering over 29,100 hectares, which provide new exploration targets stretching south from the Seabee mine to the Company’s 100%-owned Amisk property. Further, the acquisition consolidates a 100% interest in the Fisher property contiguous to the Seabee mine. The Company will leverage its existing teams and infrastructure to advance the exploration of these assets. The Company’s Saskatchewan assets now cover an area of approximately 131,150 hectares.

2


Çöpler temporarily suspended: At the end of the second quarter, Türkiye’s Ministry of Environment, Urbanization and Climate Change (“Ministry of Environment”) temporarily suspended operations pending implementation of the required improvement initiatives. The Company has completed these initiatives under the oversight of the Ministry of Environment, and after inspection and verification by the Regulators, the Company will move towards obtaining the approvals to restart operations during the third quarter of 2022.

(1) Free cash flow, adjusted attributable net income, and adjusted attributable net income per diluted share are non-GAAP financial measures. For explanations of these measures and reconciliations to the most comparable financial measure calculated under U.S. GAAP, please see the discussion under "Non-GAAP Financial Measures" in Part I, Item 2, Management’s Discussion and Analysis herein.
3



ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
4


SSR Mining Inc.
Condensed Consolidated Statements of Operations
(unaudited, in thousands except per share)
Three Months Ended June 30,Six Months Ended
June 30,
2022202120222021
Revenue$319,583 $376,950 $675,029 $743,434 
Operating Costs and Expenses:
Production costs
164,928 166,946 318,448 328,809 
Depreciation, depletion, and amortization
53,848 55,993 112,590 109,772 
General and administrative expense
19,468 15,208 35,707 22,967 
Exploration, evaluation, and reclamation costs
11,244 11,848 21,102 21,252 
Impairment of long-lived and other assets
 22,345  22,349 
Transaction, integration, and SEC conversion expense 894 1,217 5,386 
Operating income70,095 103,716 185,965 232,899 
Other income (expense):
Interest expense
(4,273)(4,891)(8,568)(9,835)
Other income (expense)
(2,395)(182)(2,762)(1,793)
Foreign exchange gain (loss)(4,869)(930)(8,156)(1,309)
Total other income (expense)
(11,537)(6,003)(19,486)(12,937)
Income before income and mining taxes58,558 97,713 166,479 219,962 
Income and mining tax benefit (expense)8,979 (19,578)(22,583)(13,198)
Equity income (loss) of affiliates
(18)(343)(271)(1,521)
Net income67,519 77,792 143,625 205,243 
Net loss (income) attributable to non-controlling interest(9,031)(3,073)(17,574)(21,664)
Net income attributable to SSR Mining shareholders
$
58,488 
$
74,719 
$
126,051 $183,579 
 
Net income per share attributable to SSR Mining shareholders
Basic$0.28 $0.34 $0.59 $0.84 
Diluted$0.27 $0.33 $0.57 $0.81 

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.    


5

SSR Mining Inc.
Condensed Consolidated Statements of Cash Flows
(unaudited, in thousands)
 Six Months Ended June 30,
 2022 2021
Operating activities    
     
Net income
$
143,625 
$
205,243 
Adjustments for:   
Depreciation, depletion, and amortization
 112,590 109,772 
Amortization of debt discount
475 461 
Reclamation costs
2,622 2,410 
Deferred income taxes
 (41,899)(35,818)
Stock-based compensation
 6,158 3,231 
Equity pickup on investments in joint ventures
271 1,521 
Unrealized loss (gain) on derivative instruments
(116)(4,687)
Change in fair value of marketable securities
3,799 1,947 
Non-cash fair value adjustment on acquired inventories
7,503 32,044 
Loss (gain) on sale of mineral properties, plant and equipment
 1,341 (1,614)
Impairment of long-lived and other assets
  22,349 
Net change in operating assets and liabilities  
 (141,344)(73,603)
Net cash provided by operating activities
 95,025 263,256 
  
Investing activities 
Additions to mineral properties, plant and equipment
 (76,330)(93,247)
Purchases of marketable securities
 (2,603) 
Proceeds from sale of marketable securities
 12,830 4,592 
Proceeds from repayment of note receivable
8,358  
Proceeds from sale of mineral properties, plant and equipment
 2,500 
Other investing activities
  (295)
Net cash used in investing activities
 (57,745)(86,450)
 
 
Financing activities 
 
Repayment of debt, principal
 (35,568)(35,000)
Repurchase of common shares
 (14,667)(70,254)
Proceeds from exercise of stock options
 2,628 3,600 
Principal payments on finance leases
 (8,203)(4,017)
Non-controlling interest dividend
(30,773)(38,084)
Dividends paid
(30,100)(21,966)
Other financing activities
 (1,114)
Net cash used in financing activities
 (116,683)(166,835)
Effect of foreign exchange rate changes on cash and cash equivalents 524 (247)
Net increase (decrease) in cash, cash equivalents, and restricted cash
 (78,879)9,724 
Cash, cash equivalents, and restricted cash beginning of period
 1,052,865 895,921 
Cash, cash equivalents, and restricted cash end of period
$973,986 
$
905,645 
6

SSR Mining Inc.
Condensed Consolidated Statements of Cash Flows
(unaudited, in thousands)
Six Months Ended June 30,
20222021
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents$938,599 $870,352 
Restricted cash35,387 35,293 
Total cash, cash equivalents, and restricted cash$973,986 $905,645 

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.    
7

SSR Mining Inc.
Condensed Consolidated Balance Sheets
(unaudited, in thousands)
June 30, 2022December 31, 2021
ASSETS  
Cash and cash equivalents
$
938,599 
$
1,017,562 
Marketable securities
 25,946 40,431 
Trade and other receivables
 123,096 121,356 
Inventories
 437,980 389,416
Prepaids and other current assets
 18,427 31,549 
Assets held for sale63,443  
 Total current assets
 1,607,4911,600,314
 
 
Mineral properties, plant and equipment, net
 3,186,953 3,249,764
Inventories
 219,780 221,617 
Restricted cash
 35,387 35,303
Equity method investments
 4,647 4,918 
Goodwill
 49,786 49,786
Deferred income tax assets
 6,729 8,501 
Other non-current assets
 57,178 41,235
Total assets
$
5,167,951 
$
5,211,438 
  
LIABILITIES 
Accounts payable
$
41,755 
$
34,844 
Accrued liabilities and other
 103,016 165,108 
Finance lease liabilities
3,810 12,439 
Current portion of debt
 70,924 71,491 
Liabilities held for sale6,923  
Total current liabilities
 226,428 283,882 
  
Debt
 261,009 295,493 
Finance lease liabilities
 104,395 105,965 
Reclamation liabilities
 138,864 122,660 
Deferred income tax liabilities
 289,347 338,788 
Other non-current liabilities
 22,775 12,133 
Total liabilities
 1,042,818 1,158,921 
  
EQUITY 
Common shares – unlimited authorized common shares with no par value; 211,842 and 211,879 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively
 3,133,009 3,140,189 
Retained earnings (deficit) 490,662 397,667 
SSR Mining’s shareholders’ equity
 3,623,671 3,537,856 
Non-controlling interest 501,462 514,661 
Total equity 4,125,133 4,052,517 
Total liabilities and equity 
$
5,167,951 
$
5,211,438 
The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.
8

SSR Mining Inc.
Condensed Consolidated Statement of Changes in Equity
(unaudited, in thousands)

 
Common shares 
        
 
Number of shares
Amount
Retained earnings (accumulated deficit) 
Total equity attributable to equity holders of SSR Mining
Non-controlling interest 
Total equity 
Balance as of December 31, 2021
211,879 $3,140,189 $397,667 $3,537,856 $514,661 $4,052,517 
Exercise of stock options166 2,433 — 2,433 — 2,433 
Settlement of restricted share units (RSUs)512 — — — —  
Equity-settled stock-based compensation— 823 — 823 — 823 
Dividends declared to equity holders of SSR Mining— — (15,015)(15,015)— (15,015)
Dividends paid to non-controlling interest— — — — (30,773)(30,773)
Net income (loss)— — 67,563 67,563 8,543 76,106 
Balance as of March 31, 2022
212,557 $3,143,445 $450,215 $3,593,660 $492,431 $4,086,091 
Repurchase of common shares(798)(11,711)(2,956)(14,667)— (14,667)
Exercise of stock options14 242 — 242 — 242 
Settlement of RSUs 69 — — — —  
Equity-settled stock-based compensation
— 1,033 — 1,033 — 1,033 
Dividends paid to equity holders of SSR Mining— — (15,085)(15,085)— (15,085)
Net income (loss)
— — 58,488 58,488 9,031 67,519 
Balance as of June 30, 2022
211,842 $3,133,009 $490,662 $3,623,671 $501,462 $4,125,133 
    

9

SSR Mining Inc.
Condensed Consolidated Statement of Changes in Equity
(unaudited, in thousands)
 
Common shares 
           
 
Number of shares
Amount
Retained earnings (accumulated deficit) 
Total equity attributable to equity holders of SSR Mining
Non-controlling interest 
Total equity 
Contingently redeemable shares   
Balance as of December 31, 2020
219,607 $3,242,821 $92,077 $3,334,898 $512,279 $3,847,177 $3,311 
Exercise of stock options364 2,750 — 2,750 — 2,750 — 
Settlement of RSUs and PSUs92 89 — 89 — 89 — 
Equity-settled stock-based compensation— 1,037 — 1,037 — 1,037 — 
Transfer of cash-settled RSUs— 8,802 — 8,802 — 8,802 — 
Reclassification of contingently redeemable shares— 3,311 — 3,311 — 3,311 (3,311)
Dividends paid to equity holders of SSR Mining— — (10,992)(10,992)— (10,992)— 
Dividends paid to non-controlling interest— — — — (38,084)(38,084)— 
Other— — (18)(18)— (18)— 
Net income (loss)— — 108,861 108,861 18,590 127,451 — 
Balance as of March 31, 2021
220,063 $3,258,810 $189,928 $3,448,738 $492,785 $3,941,523 $ 
Repurchase of common shares(4,000)(58,654)(11,600)(70,254)— (70,254)— 
Exercise of stock options79 850 — 850 — 850 — 
Settlement of RSUs 157 406 — 406 — 406 — 
Equity-settled stock-based compensation
— 1,594 — 1,594 — 1,594 — 
Dividends paid to equity holders of SSR Mining— — (10,974)(10,974)— (10,974)— 
Other
— — (204)(204)— (204)— 
Net income (loss)
— — 74,719 74,719 3,073 77,792 — 
Balance as of June 30, 2021
216,299 $3,203,006 $241,869 $3,444,875 $495,858 $3,940,733 
$
 
The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.    
10

SSR Mining Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)

1.THE COMPANY
SSR Mining Inc. and its subsidiaries (collectively, "SSR Mining," or the "Company”) is incorporated under the laws of the Province of British Columbia, Canada. The Company's common shares are listed on the Toronto Stock Exchange (TSX) in Canada and the Nasdaq Global Select Market (Nasdaq) in the U.S. under the symbol "SSRM" and the Australian Securities Exchange (ASX) in Australia under the symbol "SSR."
SSR Mining is a precious metals mining company with four producing assets located in the United States, Türkiye, Canada and Argentina. The Company is principally engaged in the operation, acquisition, exploration and development of precious metal resource properties located in Türkiye and the Americas. The Company produces gold doré as well as copper, silver, lead and zinc concentrates. The Company’s diversified asset portfolio is comprised of high-margin, long-life assets located in some of the world's most prolific metal districts.The Company’s focus is on safe, profitable gold and silver production from its Çöpler Gold Mine ("Çöpler") in Erzincan, Türkiye, Marigold mine ("Marigold") in Nevada, USA, Seabee Gold Operation ("Seabee") in Saskatchewan, Canada, and Puna Operations ("Puna") in Jujuy, Argentina, and to advance, as market and project conditions permit, its principal development projects towards development and commercial production.

In December 2021, Türkiye began the move to change its internationally recognized official name in English from Turkey to Türkiye. In June 2022, the United Nations announced it would recognize the new name. The Company is pleased to adopt the new name.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Risks and Uncertainties
As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, zinc and lead. The prices of these metals are volatile and affected by many factors beyond the Company’s control, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Mineral properties, plant and equipment; Inventories; Deferred income tax assets; and Goodwill are sensitive to the outlook for commodity prices. A decline in the Company’s price outlook could result in material impairment charges related to these assets.
Basis of presentation
The Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles in the United States. Therefore, this information should be read in conjunction with SSR Mining Inc.’s Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed on February 23, 2022. The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. All such adjustments are, in the opinion of management, of a normal recurring nature. The results for the six month period ended June 30, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022.
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the current year presentation.
11

SSR Mining Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)
3.ACQUISITIONS AND DIVESTITURES
On April 14, 2022, the Company completed the purchase of all the issued and outstanding common shares of Taiga Gold Corporation (“Taiga Gold”) at a price of CAD $0.265 per Taiga Gold share. The total purchase price consideration of $24.8 million was comprised of $24.5 million in cash paid to acquire the common shares of Taiga Gold and transaction costs totaling $0.3 million. Taiga Gold holds exploration and evaluation stage resource assets in Saskatchewan, Canada in proximity to the Company’s Seabee mine and Fisher Project. The assets are included in the Seabee mine operating segment.
The acquisition was accounted for as an asset acquisition and the following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date (in thousands):
April 14, 2022
Cash and cash equivalents$4,741 
Exploration and evaluation assets27,769 
Accounts payable(90)
Accrued liabilities and other(85)
Deferred tax liability(7,497)
Net assets acquired$24,838 
12

SSR Mining Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)
4.OPERATING SEGMENTS
The Company currently has four producing mines and a portfolio of precious metal dominant projects. Each individual operating mine site and the Company's exploration, evaluation and development properties are considered reportable segments. Operating results of operating segments are reviewed by the Company's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segments and to assess their performance.
The following tables provide a summary of financial information related to the Company's segments (in thousands):

Three Months Ended June 30, 2022
Çöpler
Marigold 
Seabee 
Puna
Exploration, evaluation 
and development properties(2) 
Corporate and other (1)
Total 
Revenue$108,743 $85,425 $79,110 $46,305 $ $ $319,583 
Production costs$63,095 $50,422 $19,015 $32,396 $ $ $164,928 
Depletion, depreciation, and amortization$27,081 $8,395 $14,370 $4,002 $ $ $53,848 
Exploration, evaluation, and reclamation costs$643 $1,045 $2,972 $2,131 $4,605 $(152)$11,244 
Transaction, integration, and SEC conversion expense$ $ $ $ $ $ $ 
Impairment of long-lived and other assets$ $ $ $ $ $ $ 
Operating income$17,194 $25,563 $42,745 $7,763 $(4,608)$(18,562)$70,095 
Capital expenditures$3,915 $15,331 $8,852 $2,262 $ $ $30,360 
Total assets as of June 30, 2022
$2,139,413 $599,062 $583,523 $302,529 $934,861 $608,563 $5,167,951 
(1) Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes.

(2) The Company entered into an agreement on January 12, 2022 to sell its Pitarrilla project. The assets related to the Pitarrilla project are classified as Current assets held for sale on the Condensed Consolidated Balance Sheets as of June 30, 2022. Refer to Note 18 for further information.

13

SSR Mining Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)
Three Months Ended June 30, 2021
Çöpler
Marigold 
Seabee 
Puna
Exploration, evaluation 
and development properties 
Corporate and other (1)
Total 
Revenue$140,654 $109,533 $67,127 $59,636 $ $ $376,950 
Production costs$69,737 $51,590 $15,467 $30,152 $ $ $166,946 
Depletion, depreciation, and amortization$29,365 $8,481 $12,525 $5,622 $ $ $55,993 
Exploration, evaluation, and reclamation costs$3,589 $935 $3,483 $441 $3,238 $162 $11,848 
Transaction, integration, and SEC conversion expense$ $ $ $ $ $894 $894 
Impairment of long-lived and other assets$ $ $ $ $22,345 $ $22,345 
Operating income$37,108 $48,527 $35,534 $22,884 $(25,587)$(14,750)$103,716 
Capital expenditures$10,719 $11,873 $9,128 $2,245 $ $ $33,965 
Total assets as of June 30, 2021
$2,305,611 $523,421 $458,067 $270,705 $999,930 $596,175 $5,153,909 

(1) Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes.

14

SSR Mining Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)
Six Months Ended June 30, 2022
Çöpler
Marigold 
Seabee 
Puna
Exploration, evaluation 
and development properties(2) 
Corporate and other (1) 
Total 
Revenue$246,150 $154,318 $169,967 $104,594 $ $ $675,029 
Production costs$125,679 $89,157 $35,425 $68,187 $ $ $318,448 
Depletion, depreciation, and amortization$57,594 $15,283 $29,749 $9,964 $ $ $112,590 
Exploration, evaluation, and reclamation costs$1,692 $1,788 $5,346 $2,612 $8,857 $807 $21,102 
Transaction, integration, and SEC conversion expense$ $ $ $ $ $1,217 $1,217 
Impairment of long-lived and other assets$ $ $ $ $ $ $ 
Operating income (loss)$59,731 $48,089 $99,436 $23,669 $(8,858)$(36,102)$185,965 
Capital expenditures$10,786 $33,566 $21,766 $4,475 $ $ $70,593 
Total assets as of June 30, 2022
$2,139,413 $599,062 $583,523 $302,529 $934,861 $608,563 $5,167,951 
(1) Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes.

(2) The Company entered into an agreement on January 12, 2022 to sell its Pitarrilla project. The assets related to the Pitarrilla project are classified as Current assets held for sale on the Condensed Consolidated Balance Sheets as of June 30, 2022. Refer to Note 18 for further information.

15

SSR Mining Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited)
Six Months Ended June 30, 2021
Çöpler
Marigold 
Seabee 
Puna
Exploration, evaluation 
and development properties 
Corporate and other (1) 
Total 
Revenue$292,176 $225,506 $112,834 $112,918 $ $ $743,434 
Production costs$136,154 $105,301 $32,028 $55,326 $ $ $328,809 
Depletion, depreciation, and amortization$59,943 $17,415 $22,122 $10,292 $ $ $109,772 
Exploration, evaluation, and reclamation costs$6,657 $1,693 $6,356 $