There were plenty of disappointing results from gold miners in the September quarter, with depleting reserves, high costs and disappointing production numbers weighing on companies like Regis Resources (ASX:RRL) and Northern Star (ASX:NST).

Under the radar dual-lister SSR Mining (ASX:SSR) on the other hand dazzled with its September results, rocketing 8.9% on Thursday.

That put the global gold producer, which boasts operations in Turkey, Canada, the USA and Argentina as well as development assets in Peru and Mexico, in a class of single day gains normally seen ATM by stocks in trendy commodities like lithium, rare earths and, uh, coal.

SSR, the result of last year’s merger between ASX-listed Alacer and North American listed SSR, saw its shares hit a 3-month high of $23.07 as it reported production of 186,941oz of gold equivalent at all in sustaining costs of US$1006/oz.

That gave the company a total of 583,316oz over the first nine months of the year at just US$990/oz, prompting SSR to cut its AISC guidance from US$1050-1110/oz for 2021 to just US$1000-1040/oz.

It generated US$129.2 million in free cash flow in the September quarter and US$306.2m year to date, as SSR’s revenue tipped over US$1 billion for the first nine months of the year, witht the company pledging to pay a quarterly dividend of US5c per share.

SSR president and CEO Rod Antal said the company delivered records across its portfolio despite inflationary pressures across the world.


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Muted performance from the big miners as Materials moves sideways

Paladin Energy (ASX:PDN) rode a wave of positivity around uranium as more buying from the Sprott trust and news it had touched up a restart plan for its Langer Heinrich mine in Namibia energised the market.

Non-producing lithium plays were also in the money. Vulcan Energy (ASX:VUL) continued its recovery from a sell-off last week sparked by a critical short seller’s report, gaining 10.17%, while AVZ Minerals (ASX:AVZ) was up 13.41% and Lake Resources (ASX:LKE) rose 8.91%.

Coal prices rose overnight as well, leading New Hope Corporation to a 5.56% jump.

However the diversified miners were mixed, clipping the wings of the materials sector as it rose a paltry 0.01% against a 0.48% gain for the ASX 200.

Pic: Commsec


Monsters share prices today: