{"id":1184714,"date":"2020-05-15T11:40:24","date_gmt":"2020-05-15T16:40:24","guid":{"rendered":"https:\/\/www.mining.com\/?p=1024011"},"modified":"2020-05-15T11:40:24","modified_gmt":"2020-05-15T16:40:24","slug":"ssr-cashes-in-on-silvercrest-stake","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1184714","title":{"rendered":"SSR cashes in on SilverCrest stake"},"content":{"rendered":"<p>SSR Mining (TSX, NASDAQ: SSRM) <a href=\"http:\/\/ir.ssrmining.com\/investors\/news\/press-release-details\/2020\/SSR-Mining-Divests-SilverCrest-Equity-Position-for-C90-Million-of-Gross-Proceeds\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\"has sold (opens in a new tab)\">has sold<\/a> its approximate 8.5% stake in SilverCrest Metals (TSX: SIL) as it focuses on completing the <a aria-label=\"previously announced (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/ssr-mining-acquires-alacer-in-1-7bn-all-stock-deal\/\" >previously announced<\/a> merger acquisition of Alacer Gold (TSX: ASR, ASX: AQG). <\/p>\n<div class='ad-slot' id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {    googletag.display('div-gpt-ad-1561499308230-0');    googletag.pubads().addEventListener('slotRenderEnded', function (event) {        if (event.isEmpty) {            var id = event.slot.getSlotElementId();            var x = document.getElementById(id);            if(x == null) return;            if (x.parentElement.classList.contains('ad-slot')) {                x.parentElement.style.display = 'none';            }\t\t\t\t        }    });});<\/script><\/div>\n<p>In an on-market transaction, SSR has divested all 9 million of its SilverCrest common shares at a price of C$10.06 per share for gross proceeds of approximately C$90 million.\u00a0This represents a pre-tax gain of C$55 million on its investment of C$35 million over an 18-month period, SSR president and CEO Paul Benson said.<\/p>\n<p>SilverCrest is currently advancing its Las Chispas gold-silver project in Mexico, where mining activities is expected to resume shortly.<\/p>\n<p>Meanwhile, SSR said recent drilling at its Marigold mine in Nevada and Seabee Gold Operation in Saskatchewan both yielded positive results indicating potential increases to mineral resources. <\/p>\n<p>Drilling on greenfield targets also yielded three resource grade intercepts at the <a href=\"https:\/\/www.mining.com\/taiga-gold-shares-up-on-fisher-drill-results\/\"  rel=\"noreferrer noopener\" aria-label=\"Fisher property (opens in a new tab)\">Fisher property<\/a> next to Seabee.<\/p>\n<p>In the first quarter, SSR achieved total production of 107,331 gold-equivalent ounces at cash costs of $824 per payable ounce, resulting in positive income from mine operations totalling $44.8 million and adjusted attributable net income of $38.8 million.<\/p>\n<p>Shares of SSR Mining jumped 11.6% on Friday morning to a 10-year high of C$29.36 per share. SilverCrest&#8217;s stock was also up 11.3% to almost a 52-week high. The companies have market capitalizations of C$3.6 billion and C$1.4 billion, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of SSR Mining jumped to a 10-year high.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1184714"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1184714"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1184714\/revisions"}],"predecessor-version":[{"id":1184771,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1184714\/revisions\/1184771"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1184714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1184714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1184714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}