SSR mining said its gold production and revenues at its Seabee mine near La Ronge are posting losses, mainly due to operations suspension in March.
The mine closed March 25, as a precautionary measure due to COVID-19.
“In August, the third and final phase commenced, which involved a restart of milling operations and ramp-up to full mine production with a complete workforce, while continuing to maintain effective COVID-19-related protocols. The mine has operated at full capacity since that date,” said SSR Mining.
“For the three months ended September 30, Seabee produced 20,249 ounces of gold, a 37 percent decrease compared to the same period in the prior year, reflecting that the mill restarted operations in early August 2020.”
Revenues were down eight percent in the third quarter due to a 30 percent decrease in gold sales.
The losses were offset by a 29 percent increase in gold prices.
A downturn in gold sales for the year is causing a revenue short fall for the year of 25 percent.
The decreased revenues are attributed to SSR Mining’s response to the pandemic.