Puna Operations produced 1.9 mn Oz of silver in H1
SSR Mining reports second quarter 2018 operating results at our three mines. According to the report, 2Q Increased production at Marigold: Produced 49,436 ounces of gold, an increase of 15% compared to the first quarter. Production in line with guidance at Seabee: Produced 23,582 ounces of gold, with all ore sourced from the high-grade Santoy mine.
Strong quarterly production at Puna Operations: Produced 1.0 million ounces of silver, for a total of 1.9 million ounces of silver produced in the first half of 2018, exceeding guidance. Paul Benson, President and CEO said, "Solid performance at each of our operations in the second quarter keeps us well on track for full year production guidance. With a stronger second half of the year still in front of us, we look forward to delivering into near-term growth."
In the second quarter of 2018, the Marigold mine produced 49,436 ounces of gold, a 15% increase over the first quarter. Gold sales totalled 46,644 for the quarter, reflecting an increase in bullion inventory. During the quarter, 16.0 million tonnes of material were mined, similar to the first quarter primarily due to longer haul distances associated with the increase in ore tonnes.
We expect total material mined to increase during the second half of 2018 due to shorter haul distances and as the four additional haul trucks enter service. These factors, along with completion of the new leach pad, are expected to increase gold production through the second half of the year.
Approximately 7.9 million tonnes of ore were delivered to the heap leach pads, a quarterly record. Gold grade increased to 0.42 g/t. This compares to 7.1 million tonnes of ore delivered to the heap leach pads at a gold grade of 0.37 g/t in the first quarter of 2018. The strip ratio was 1.0:1 for the quarter, 23% lower than the prior quarter.
Key: gold mining, silver mining, bullion
