Operator: Hello, everyone, and welcome to SSR Mining's Second Quarter 26 Conference Call. This call is being recorded. At this time for opening remarks and introductions, I would like to turn the call over to Alex Hunchak from SSR Mining. Please go ahead.

Alex Hunchak: Thank you, operator, and hello, everyone. Thank you for joining today's conference call to discuss SSR Mining's second quarter 2026 Financial Results. Our consolidated financial statements have been presented in accordance with U. S. GAAP. These financial statements have been filed on EDGAR and SEDAR, and they are also available on our website. There is an online webcast accompanying this call, and you will find the information to access the webcast on our corporate website. Please note that all figures discussed during the call are in US dollars unless otherwise indicated. Today's discussion will include forward looking statements, so please read the disclosures in the relevant document. Additionally, we refer to non GAAP financial measures during our discussion and in the accompanying slides. Please see our press release for information about the comparable GAAP measures. Rodney Antal, Executive Chairman, will be joined by Michael J. Sparks, Chief Financial Officer William MacNevin, EVP of Operations and Sustainability on today's call. I will now turn the line over to Rob.

Rodney Antal: Great. Thanks, Alex, and good afternoon to you all. We enter the second half with momentum. Having delivered operating results in line with expectations and most importantly, we completed a meaningful strategic repositioning of SSR through our exit from Türkiye. We are well positioned to achieve full year guidance targets through higher production in the second half that will drive significant free cash flow generation through the remainder of the year. We expect all in sustaining costs to trend to the upper end of our full year guidance range due to a number of factors that we will speak to later in the call. We continue to work hard on business improvement initiatives to help mitigate pressures on costs across the company. Strategically, over the last few months, we have delivered a number of significant milestones. Including the successful divestment of both Çöpler and Hod Maden. The approximately $1.5 billion in cash proceeds from Çöpler sale was received before the end of the second quarter, bringing our total cash position to nearly $1.8 billion with no debt. With the exit from Türkiye, SSR is now a free cash flow focused America's gold and silver producer anchored by our position as the third largest gold producer in The United States. Our US platform alone has considerable growth potential that we look forward to showcasing moving forward. Separately, we have now reestablished our position as the capital return leader amongst our peer group. Returning $400 million to shareholders year to date. This implies a nearly 8% yield before the forthcoming dividend payments and ongoing share buyback over the remainder of 2026. Our organic growth initiatives continue to advance across the portfolio as we seek to meaningfully extend mine lives at each 1 of our assets. As a result, and capitalizing on our significant liquidity position, we made a conscious decision to increase our growth capital expenditure for the remainder of 2026. It is the right time for us to begin investment in future growth across the business after years spent identifying and studying the opportunities. The anticipated publication of the Marigold technical report by year end will begin to provide insight into some of these tangible opportunities. As you can see, our business is in excellent position as we head into the second half. We have the best in class balance sheet, peer leading capital returns program, expectations for a very strong second half of production, and free cash flow and a track record of disciplined capital allocation. These traits are key differentiators for SSR amongst its peer group. So before moving on to the next slide, I want to summarize some of the catalysts ahead. First, we expect to publish an updated technical report for Marigold with the objective of capturing growth opportunities like Buffalo Valley, DG80, and New Millennium. With the purpose of extending mine life. Next, we are continuing to advance a number of exciting brownfield opportunities at both Puna and Seabee and Bill will speak to more about these in the coming slides. And third, we will continue to execute against our capital allocation framework as announced in June. Where we will maintain balance sheet strength invest in the business, and return capital to shareholders in the form of buybacks and dividends. These catalysts are just a few of the potential avenues for value creation in the years ahead. So with that in mind, let's talk more about the track record of creating value on slide number 4. With our strategy clearly defined, it is worth highlighting how we got to this point. We have clearly demonstrated a track record of meaningful value creation with growth in per share metrics capital returns and disciplined M&A. I have already spoken about our commitment to capital returns and particularly share buybacks but it is also worth noting that once factoring in our restated reinstated dividend program and projections for ongoing share buybacks, we are tracking towards a sector leading capital returns yield in 2026. We have a track record of value accretive M&A and this was most recently illustrated by the phenomenal returns generated from our acquisition of Cripple Creek and Victor. Across the portfolio, we have consistently demonstrated our ability to add value through mine life extensions and optimizations and we expect this to continue in the future. At the same time, the numerous organic growth initiatives across all 4 of our assets create an environment where we can evaluate strategic additions to the port portfolio purely on our opportunistic value accretive basis, similar to our approach at Cripple Creek and Victor. If attractive M&A opportunities in our core jurisdictions are not present, we are confident that focusing solely on our organic portfolio will continue to evolve our multi decade production profile. As you can see, these figures on the slide illustrate a powerful picture of discipline and value creation in how we run our business. We have seen our consensus now increase nearly 300% over the last 2 years, and our cash flow per share improved by 440% over that time. We intend to continue building on this impressive track record for the years to come. So now I am going to turn it over to Michael on Slide 5 to discuss the quarterly results.

Michael J. Sparks: Thank you, Rodney, and good afternoon, everyone. In the second quarter, we produced 102 thousand gold equivalent ounces at an all in sustaining cost of $26.22 per ounce. These results were consistent with our expectations and reflected the intentional increase in sustaining capital spend that Rodney discussed. Our strong first half operating performance positions us well to achieve our full year production guidance. We do currently expect costs to be towards the upper end of our guidance range. And this reflects both higher realized fuel prices during the second quarter and a deliberate decision to advance sustaining and growth investments across the portfolio. Given the strength of our balance sheet and cash flow generation, we are taking a disciplined approach to accelerating capital where we see the potential to extend mine lives, improve operating resilience, and create attractive long term returns. These investments are not simply incremental spending. They are intended to enhance the quality, durability and value of our Americas focused asset base. We expect sustaining capital expenditures to remain elevated in the third quarter. Production is expected to strengthen as the year progresses with approximately 55% to 60% of second half production weighted towards the fourth quarter. Turning to fuel costs. Our diesel hedging programs at Marigold and CC&V have mitigated the impact of recent price increases. However, we remain exposed to market prices for unhedged diesel purchases across the portfolio. Based on our current operating portfolio, a $10 per barrel increase in oil prices resulted in a net estimated increase of approximately $10 per ounce in consolidated AISC in 2026. We are closely monitoring the potential secondary effects of higher fuel prices on transportation reagents and other consumables. Our contractual arrangements and ongoing engagement with key suppliers visibility into emerging cost pressures and help us proactively manage potential disruptions or inflationary impacts. For context, consumables represent approximately 15% of our total cost base. While fuel generally represents between 10% to 15%. Royalties represent a further approximate 15% and naturally increase in stronger metal price environments. Bill will discuss individual operations in greater detail, but at a portfolio level, our focus remains clear. Maintaining operating discipline, actively managing inflationary pressures and directing capital toward investments that strengthen margins, extending asset lives and supporting a sustainable free cash flow generation. Now let's move to Slide 6 for a brief review of our financial results. Second quarter revenue was $443 million based on sales of 98 thousand gold equivalent ounces. Average realized prices were $4.3 thousand per gold ounce and $74.24 per silver ounce. Net income and adjusted net income were both $0.66 per diluted share. Our realized gold price was 5% below the quarterly average, and this primarily reflects the timing of sales during the quarter a greater proportion of our second quarter ounces sold in June when gold prices were lower. Free cash flow from continuing operations was $50 million in the quarter bringing year to date free cash flow to nearly $300 million inclusive of working capital Free cash flow before changes in working capital was $123 million in the second These amounts reflect the reclassification of H1 spend at Hod Maden into discontinued operations. As a reminder, Çöpler and Hod Maden were included as discontinued operations in our financial reporting for the second quarter. The second quarter also included $120 million in cash tax payments. This is consistent with our normal annual payment cycle under which approximately half of our full year cash taxes are generally paid in the second quarter with the balance largely distributed evenly between the third and fourth quarters. Our strong cash position allowed us to continue returning meaningful capital to shareholders while preserving substantial strategic flexibility. During the quarter, we returned $338 million through the repurchase of 10.4 million shares and we announced the reinstatement of our quarterly dividend. Share repurchases continued into the third quarter as we execute against the $500 million buyback program approved in mid June. As of July 31, we retained capacity to repurchase 8.6 million additional shares under our current normal course issuer bid which extends through March of next year. At current valuation levels, we continue to believe that repurchasing our shares represents an attractive and accretive use of capital. During the quarter, we also received the cash proceeds from the Copler transaction And as a result, we ended the quarter with nearly $1.8 billion in cash, even after the significant level of share repurchase completed during the period. Earlier today, we announced the completion of an amendment and extension of our revolving credit facility. This facility was increased from $400 million to $600 million with a renewed 4-year term and included a 25-basis-point improvement in borrowing rates as compared to the prior facility. Overall, the second quarter demonstrated the strength of the business. Solid operating execution, substantial free cash flow generation, disciplined investment in our assets and significant capital returns to shareholders. With a strong balance sheet, a more focused portfolio and several opportunities to enhance long term asset value, we are well positioned for the remainder of the year and beyond. Now over to Bill on Slide 7 to talk about the operations.

William MacNevin: Thanks, Michael. I will first start with the HSS. Working with all of our stakeholders, is foundational for our business. This is highlighted through 1 of SSR Mining's 3 core values, being better together. Today, I would like to share a methodology we have implemented to improve how we work with our host communities. At each of our operations, we have established community development committees. These committees have members from local communities, who participate in both the build and selection of which support and local business enabling projects are implemented. Through the committee members' contributions and efforts, we are improving the quality of both where and how we support our local communities. Now on to Slide 8 to start with Marigold's. In the second quarter, Marigold produced 31 thousand ounces bringing year to date production to 69 thousand ounces, reflecting our original forecast for a strong H2 weighted profile. In 2026. We expect second half production will be approximately 65% weighted to the fourth quarter. Marigold remains on track for its full year production guidance of 170 thousand to 200 thousand ounces. AISC in the second quarter reflected higher sustaining capital spend as previously guided. Sustaining CapEx will remain elevated in the third quarter due to the timing of spend on fleet replacements and upgrades. We have also increased our growth capital guidance at Marigold from $48 million to $65 million as we accelerate spend to facilitate longer term growth initiatives at the site. We expect full year AISC at the top end of guidance reflecting the increased sustaining capital as well as the impact of higher fuel prices on the unhedged portion of our diesel usage. As noted, we plan to have an updated technical report and life of mine plan for Marigold out later this year. This new life of mine plan has potential to demonstrate a meaningful extension against 24 TRS while incorporating the increased blending requirements as noted earlier this year. As previously guided, while this will result in changes to the annual production profile at Marigold, We continue to expect total ounces produced over the next 5 years to be comparable to the 24 TRS and then include meaningful life extension thereafter. A lot of hard work has gone into this updated life of mine plan, and we look forward to updating the market later this year. Additionally, we have continued to advance exploration and analysis of numerous other targets across the broader Marigold property. To support additional mine life extension, and growth opportunities in the future. Marigold has been in operation for more than 38 years and we are confident there is a very long future still ahead for the operation. Now on to Slide 9. For an update on CC&V. In the second quarter, CC&V produced 28 thousand ounces at an AISC of $19.95 per ounce. Bringing first half production to 66 thousand ounces and well on track for our full year guidance for 125 thousand to 150 thousand ounces. Second half production is expected to be 50% to 55% weighted to the fourth quarter. ASIC is trending towards the top end of full year range, due to fuel costs and a modest increase in sustaining capital on equipment components and general site improvement initiatives. Growth capital has also been modestly increased as we accelerate the timing of spend on the expansion of VLF2. Overall, CC&V continues to perform very well against expectations, and has clearly established itself as a cornerstone asset in our portfolio. The currently-in-progress Amendment 14 is advancing as we continue to expect final approvals before the end of 27. Work to evaluate opportunities to improve the longer term production profile, including the potential for future mineral reserve conversion, remains ongoing. Now on to Slide 10 to discuss operations at Seabee. Seabee produced nearly 17 thousand ounces in the second quarter at an AISC of $2.36 thousand per ounce. Year to date production is 23 thousand ounces as we focus on underground development in the first half of the year. For the full year, Seabee continues to track to the lower end of full year guidance and we expect higher grades will drive the strongest production in the fourth quarter. Full year AISC at Seabee is also expected at the top end of guidance. And as 2026 growth capital forecast has been increased from $15 million to $35 million as we advance the Porky West project in the second half of the year. Porky has the potential to extend the mine life at Seabee well into the next decade and we are also progressing near mine drilling at Santoy as we seek to extend operations at the deposit. On to Puna on Slide 11. In the second quarter, Puna produced 1.7 million ounces of silver and an AISC of $29.52 per ounce. Over the first 6 months of the year, Puna has produced 3.4 million ounces. Second half production of Puna is expected to be relatively evenly split between the third and fourth quarters while full year AISC are trending to the higher end of guidance as a result of inflationary pressures in Argentina. Our teams continue to evaluate the numerous pathways to grow Puna, including additional laybacks at Chinchillas, evaluation of the Molina open-pit target adjacent to Chinchillas, and continued advancement of the Cortaderas project. Now on to Slide 12 for a review of the growth pipeline. As I have noted through this call, all 4 of our operations have a clear growth trajectory with the potential to meaningfully extend current mine lives. And sustain our current production profile for many years to come. We are in an enviable position on this front And as noted, our significant liquidity position has enabled us to advance growth capital spend at each project support timely delivery of each project's development. With respect to the rest of our organic growth portfolio, we are advancing early stage opportunities across each of our core jurisdictions. This includes continued evaluation of the Amisk project in Saskatchewan where we are progressing internal economic studies to better understand the project's long term potential. Regional exploration is also continuing across the province. In The US, early stage field programs are underway at multiple exploration targets in Nevada. In the second quarter, we also finalized a strategic investment in Phenom Resources. The Dobbin project in Nevada. Dobbin is a Carlin style target with more than 2-kilometer long golden soil anomaly and limited historical exploration. The first drilling ever undertaken on the property commenced early in the third quarter. We currently own 9.9% of Phenom, and hold an option to earn in a minority ownership in the property through $4 million in expiration spend. As you see, there is plenty underway across the portfolio. And we look forward to providing updates on these growth initiatives in due course. Now I will turn back to Rodney for closing remarks.

Rodney Antal: Great. Thanks, Michael. Thanks, Bill. The first 6 months have already delivered a transformational inflection point. For SSR. We enter the second half in an excellent position where we expect strong production and free cash flow into the year end. Our capital allocation and returns approach has now been fully implemented through the investment in growth as well as returning capital to shareholders through both share buybacks, and reinstated dividend program. So with that, I am going to turn the call over to the operator for any questions you may have. Thanks everyone.

Operator: Thank you, Mr. Antal. We will now begin the question and answer session. The first question comes from George Eadie with UBS. Please go ahead.

George Eddy: Yes. Good day, team. Thanks for the call. Maybe Bill and Rodney, starting at Marigold. If I go back to the original target, it was around 22 million tonnes stacked at 0.4 grams a tonne. You are at 9.3 and 0.7 gram a tonne now. Can you maybe help us with how many tonnes you need to stack in the second half or at least what grade to get to the lower end? Just to sort of better understand how that is trending?

William MacNevin: Sure, George. How are you? I am going to hand it over to Bill. Yes, George. We have resequenced some of our mining in this previous quarter, but we are still on track to reach our projection for the year. And be at the lower end of guidance as suggested.

George Eddy: what is the like, what is the lead time here? Like, if you were to throw just for simplicity, say, 0.5 gram a ton on the pads today, when would that be leached out the other side roughly?

William MacNevin: Our leaching extends between 90 and 120 days. George, with most of it at that 90-day time frame.

George Eddy: Okay. So stuff you are throwing today is in that quarter. Okay. that is sort of helpful. Maybe just so changing to CC&V as well, if I can quickly. In the 10 Q, there is a declaratory judgment there on discharge permanent Carlton Tunnel. Can you maybe help me understand that and remind us what the story is for that?

Michael J. Sparks: Yeah. George, it is Michael. So with regards to Carlton Tunnel, as you remind if you remember, with when we did the agreement with Newmont, we worked out that we would put together the long term mine closure plans. And then there would be a economic sharing of those costs. That work is ongoing. It was already underway when we purchased the asset. And that continues on throughout that work that is going with the regulators. As well as the guys at the site. Amendment 14, as Bill talked about, which is the next phase of growth that takes us into the 2030s, that is on track, and we expect to get that sometime by the end of 27, as he mentioned.

George Eddy: Yeah. I was more mentioning the sort of comments on March 9 around the parent code with a federal court lawsuit on the water quality. Like, maybe remind what that is, Michael, or maybe I am just overreacting, just cannot remember what that is.

Rodney Antal: Sorry, George. it is Rodney. I will dive in. More specifically. Think Michael gave you a good idea. there is sort of there is multiple parts to the way this was structured with the deal for Newmont. I think that is what Michael was outlining. With respect to that point specifically, it is really a Newmont driven approach to the legal case with respect to the Carlton Tunnel. Discharge and the permits around the discharge and what is been required around it. And as Michael mentioned, I think the important part, it was already in train And while Newmont is controlling that piece of the sort of previous permitting cycle that we are going through, the overall picture for us will not change for any liabilities for SSR in the future. Whether that is successful or unsuccessful. As we go on. So it is something that Newmont is controlling. We do not have any carriage in that court case. Okay. Cool.

George Eddy: So in summary, though, like from your guys, you would not a big issue or risk really for SSR at all? It sounds

Rodney Antal: No. No. Ultimately, I think it will all help. Define what the long term requirements are for mine closure at Cripple. So it is obviously important, but in terms of how the deal's been structured for us, we are protected. Okay. Great.

George Eddy: Thanks, guys. I will pass it on.

Operator: The next question comes from Ovais Habib with CIBC. Please go ahead.

Analyst: Hi, Rodney, Michael and Bill. Thanks for taking my question. I guess I will kick off my first question asking about Phenom Resources. Can you kindly share with us what kind of opportunities you are seeing over there? And should we expect this to be the kind of deal SSR Mining is involved in? Taking rather a strategic investment approach rather than acquiring companies or asset completely.

Rodney Antal: Hi, Ovais. Yeah. Look. it is a it is an interesting option for us. As we looked at the opportunity and we identified this through our guys on the ground in Nevada, but know, it is it is very early stage. The fact was that this piece of land was tied up in the forestry land that was not available for exploration for the longest time. It became available. Phenom themselves were are able to then pick it out and start an exploration program And what we saw in some of the sort of early stages of that was interesting enough for us to enter the way we did at both the corporate level and at the asset level itself. So it is still very early. Drilling is really only getting underway. Phenom themselves will lead the charge on the continuous disclosure and whatever else as time goes on. But you know, clearly, an opportunity for us to participate in something that we think is very interesting. Yeah. To answer your question from a perspective, how we look at other strategic options, We made no secret of this over time that we look at everything from the types of earning structures that we have got. we have set out all the way through to asset acquisitions. it is a similar process for SSR. That will not change. Despite I think people were sort of, you know, speculating or worried that with the cash flow that we currently have on the balance sheet that we filled in a rush or compelled to go to market to do something. I think we have got a track record of discipline. We have a track record of taking out time to ensure that anything that gets to market has gone through our disciplined approach to due diligence, and that will not change in the future. So we will look at things like Phenom and other things as well. Perfect. Thanks, Rodney. that is a very good answer. I guess following up on that kind of topic as well is we you mentioned earlier Rodney as well, it is a very opportunistic time to increase your credit revolving facility. Like, am I reading too much into it, or is there a potential big use? Because you already have $1.8 billion in cash. Should we look at it? Yeah. Look. I think it was just it was the right time to do it. Michael and the team were able to work with our syndicate of banks. And most importantly, I think it was not so much the extension and the increase from $400 million to $600 million. It was more around the terms were more favorable to us to maintain that on our balance sheet. So it is normal course for us. Perfect. Sounds good. And if I can, I have 1 last question? Coming back more to the guidance of the operations itself, can you remind us what is the kind of positive impact after your divestment of Çöpler? You know, I saw your ASIC got reduced compared to previous guidance. Is that kind of the impact from Çöpler? Yeah. that is right. it is the impact of not having the care and maintenance within the within the Çöpler asset itself. Perfect. Sounds good. Thanks again, Rodney, Michael, and Bill for taking my question. I will pass it back to the queue. Good on you. Thanks, Ovais.

Operator: The next question comes from Lawson Winder with Bank of America Securities. Please go ahead.

Lawson Winder: Thanks very much operator and good evening Rodney and team and thank you for today's update. Also congratulations on closing the Türkiye divestments. If I could just get your thoughts on capital allocation. On the buyback, is the roughly $70 million of repurchases in July a reasonable run rate for the balance of the year? Then just kind of carrying that through to the end of the year, if that were the case, that would bring you pretty close to the $500 million approval. Is the expectation that the $500 million will ultimately be used up by year end?

Rodney Antal: I am gonna pass that 1 over to Michael Lawson.

Michael J. Sparks: Lawson. Good afternoon. So if you remember, we look at our capital allocation, it is really a 4 part view. And number 1 is balance sheet resiliency, which we have shown We have a really strong growth portfolio internally, and we wanna make sure that we can fund that because that is the best use of our capital from a internal growth standpoint, and Bill outlined some of those key things Disciplined M&A as Rodney mentioned, and finally, that share capital returns. If you remember, we have everything under an NCIB in Canada. And that limits the amount of shares that we can do under a buyback during a given year to 10% of the float. So we still have about 8 million shares under that plan, and that plan goes through March. And so if you look at the approved amount that was given in June of that 500 million our expectation was to be consistent with the market as it makes sense to us, which we do believe we are undervalued compared to our intrinsic value still in the market. And we would look through the to work through that through March when that NCIB is exhausted, and then know, looking forward, you know, we would have the opportunity to put another 1 in place in March, if that 1's exhausted.

Lawson Winder: Okay. Understood. If I could attempt to put a finer point on the sustaining CapEx guidance for 2026. So you are a official sustaining CapEx guidance is $202 million for the for the assets that carry on, basically the North American assets. So you are suggesting that, it could be slightly higher than that I mean, how would you recommend we model that? I mean, is $202 million plus, 3% to 5% a good range? Any specificity on that would be very helpful.

Rodney Antal: Yeah. I will pass that 1 again to Michael.

Michael J. Sparks: Yeah. Listen. So Bill mentioned a couple of the things we are working on around there is a few fleet purchases at Marigold and other places. Purposes of guidance, it is it is gonna be somewhere around that $25 to $35 million more than what we originally guided is what we are currently looking at for sustaining at this point. So that puts you somewhere in that $230 to $235 range?

Lawson Winder: Yeah. that is about 15%. What was on that? Gotcha.

Michael J. Sparks: Okay.

Lawson Winder: that is very helpful. And then just finally, with the working capital adjustment, being a bit of a negative headwind this quarter and some of that relating to the Çöpler sale Could you give us an indication of how you expect working capital might trend in Q3 and Q4, all else equal. So assuming no material change in the gold price.

Michael J. Sparks: Yeah. So, ultimately, with the Çöpler and Hod Maden and both being now turned to discontinued operations, you should see things normalize into continuing operations you see now. Did have an inventory build, impacts our working capital in Q2. And we had as Bill mentioned, would expect that to work off as we go through the year in that normal lease cycle.

Lawson Winder: Okay. Great. Fantastic. Thank you very much. Good job. Thanks, Lawson.

Operator: The next question comes from Joshua Wilson with RBC. Please go ahead.

Josh Wilson: Yes. Thank you very much. Just on the Marigold comments, about the new mine plan. The company sort of mentioned 2 factors I guess 1 was an extension of mine life, and the other was some impact from ore blending. I am wondering what the, you know, initial kinda impressions will be from that blending impact if we should think about production growth in the near term or it is gonna be more stable? Any kind of commentary there would be helpful. Thank you.

Rodney Antal: Hi, Josh. it is Rodney. I will take this 1. The firstly, we obviously are still wrapping up the work for Marigold for the new TRS technical report. That we will publish before year end. So I am going to be cautious with what I say because it has not been completed yet nor have we published. So I think what Bill mentioned during the remarks at the start of the call was that when we look into the next 5 years with the blending requirements and the new mine plans where we see that the production profile over that period is predominantly the same as what it was in the last TRS, so that is important. And then when you look into the future of what we see for Marigold, and the opportunities from Buffalo Valley, New Millennium and a target called DG80. We see the opportunity for mine life extension. So that is part of the work that we have been we have been going through here for the last sort of 6 to 12 months, call it, reoptimizing the mine plans, looking at how they all play off against each other, the stripping requirements, for Marigold and material movement requirement for Marigold in the future. And that will play in. So once we get to once we get into the publication, obviously, we can talk more on what it is, but it is really about a longer life for Marigold. Thank you.

Josh Wilson: And then just on the cost structure side of things, a bunch of sort of incremental details provided about sustaining capital, some changes in reagents and energy and so forth. This year, there is been a big influence from the energy hedges that have been in place. How should we think about the cost structure for the going forward? Or is there any kind of unit cost inflation numbers that the company can provide to kind of give us a better impression of the cost structure is maybe without those hedges? Thank you.

Michael J. Sparks: Yes. So, Josh, the as you as you mentioned, the hedges are gonna go through the end of this year. We have a close hand. We are obviously looking for opportunities to renew that program depending on the volatility and the prices that make sense. As we mentioned in Q1, throughout the rest of this year, it is a pretty negligible impact about $10 per $10 a barrel of oil. Without the because those represent about 70% of our US operations. That number would be somewhere around $20 to $30 per $10 of oil, and that would be, you know, above and beyond $70 to kind of what we had used for the oil and barrel prices. For a little bit of context, in relation to some of our other assets, Seabee only has deliveries once a year. So that would happen in the first part of the year as part of the ice road. And then down in Argentina, while we do see some inflationary impacts including fuel that is a different regulated market, and we are seeing that lagging some of the other increases that we have seen across the globe. For purposes of maybe the broader context of it, we are closely monitoring, like I said, what that impact may be on other transportation or consumables, and we are not seeing a major impact there. But we would expect that inflationary to be somewhere in that 20% to 30% if prices were to stay at that elevated rates. Got it. Thank you.

Josh Wilson: And 1 last question if I can. You know, just with the revolver increase, the company sort of talked about M&A being a focus historically, does the additional flexibility provide any anything else beyond that? Or, you know, I am just trying to understand it just based on the net cash position being so high and the revolver also increased, you know, how we should be thinking about that. Thank you.

Rodney Antal: Good. No worries, Josh. So, look, I will just I will just I will I will say this again. I think it is important that the revolver that we renewed was in ordinary course for us. It was coming to maturity. And as I mentioned, Michael was able and his team were able to extend the facility for a 4-year term as well as in improve the economic the economics for us by reducing the interest rate that was available. And then, obviously, we are able to upsize it as well given our strong liquidity position. So it is it is really normal course for us, Joshua. I would not read too much into it. Great. Thank you very much.

Operator: Next question comes from Ovais Habib with Scotiabank. Please go ahead.

Ovais Habib: Hi, Rodney and SSR team. Congrats on a good quarter. Looking forward to a strong performance in the second half. A couple of my questions have already been answered, but just starting off with CC&V and maybe you have already touched that throughout your presentation, but I am just gonna ask it anyways. In terms of the status of Amendment 14 for CC&V, you had mentioned that, Newmont has started this process. Are those discussions progressing? And again, in terms of there any sort of impact to the current mine life or this is just more of an extension of, the current mine life?

Rodney Antal: So you look hi, Ovais it is Rodney. A couple of things. I think the Amendment 14 as it is is separate to what the court that Newmont are taking over the discharge from Carlton Tunnel. So that is that is an important point to make. The Amendment 14 process is on track, and we are moving along with the regulators to ensure that, 1, we took ownership of it because we are running that part of the process now as SSR. And everything so far is moving according to plan. So we expect that to be available for us to then to continue to expand and build a new valley leached fields that we are doing some prework on this year, and then, obviously, that will be available for the for the longer term under the current TRS for ore stacking in the future. So that is all Amendment 14 is. it is it was already in train It defined the current mine life, as you know, with the TRS that we published for Cripple Creek. In terms of the actual permit itself, it is it is working along through the process according to plan.

Ovais Habib: Okay. Thanks for the color on that. Rodney, just then moving a little bit onto exploration. Just in terms of where the focus is on exploration, I mean, we obviously, there is some upside looking like you are gonna be adding to your current mine life at Marigold, where you have got Buffalo Valley, Millennium, Marigold North, is the exploration program that you have in place right now focused at Marigold and extension of Marigold? Or are there opportunities at CCNV as well as CB and Puna?

Rodney Antal: Yeah. Look, it is it is really a combination of sort of 3 years of work here, Ovais, across the portfolio. it is not like something that we have we are just doing now post-Çöpler, or and as you know, the these things take time. So some of it has been step out drilling, new target drilling, new target definition, there is been a lot of infill drilling to ensure that we have the necessary support for any new studies that we wanna do. For example, the Marigold Tech report, we are about to about to publish. But I think I have said it a few times at different forums that for the first time, when we look inside the portfolio, we see growth at each 1 of the assets that is quite tangible. So Marigold will be the first the first cab off the rank in terms of that publication. And we will we will we will talk about that once that is published. Cripple Creek, you know, beyond Amendment 14 that we just talked about, clearly, there is a there is an opportunity there. As well for us to extend the mine life and move into the next phase of Cripple Creek. But first, first things foremost, we had to get Amendment 14 done, and that is really the key focus to us. But the work in the background that the team are doing is obviously definitions and understanding what is available and what that might look like. And then, obviously, we have Porky's up at Seabee and then the other targets that Bill mentioned down at Puna, with the pushbacks of the Chinchillas pit and then the Cortaderas target to name a few. So all of the all of the assets were at different stages through the drill bit that we have been doing. And the drilling's been some exploration and some definition drilling. And as time progresses, we will start to bring those results to market and more tangibly talk about what they might mean for each 1 of the assets. So we are pretty excited by what we see. And, you know, it is obviously an opportune time now that we have repivoted the business to be focused on the Americas platform that each 1 of them have some sort of in built growth opportunities for them. Perfect. Thanks for that, Rodney.

Ovais Habib: And that is it for my questions. Thanks for taking my questions.

Rodney Antal: Good stuff. Thanks, Ovais.

Operator: The next question comes from Don with National Bank Financial. Please go ahead.

Don DeMarco: Thank you, operator, and good morning. Afternoon, Rodney and team. So Rod, we have talked about the brownfield opportunities. I see them fairly well detailed on Slide 12. Which among these projects has the greatest potential to add reserves, production or NAV over say the next 3 to 5 years. Just to put it in perspective, And our any of these projects targeting production increases or are they primarily focused on mine life extension? Thank you.

Rodney Antal: Look, I think the near term hey, Don. The near-term 1 for us is really the publication of the Marigold Tech Report, which will bring into focus the New Millennium Buffalo Valley DG80 and other target we have, etcetera. etcetera. So I think that is the first and foremost because it is the most mature. In that process for us to be able to talk about and publish it more importantly. We obviously really busy at Cripple. Amendment 14, but you know, first things first, finish off Amendment 14 by the end of next year. So that is locked in for the current mine life that was shown in the last TRS that we published. And then and then, you know, the more to come beyond it. And then, obviously, the other the other, you know, smaller assets in terms of their mine lives at the moment, we have some pretty exciting targets that we feel can add mine life extension. So, of it will be some resequencing of the assets. And optimizing where we can so we can smooth the production profile, but I do not see any great leap you know, in terms of what that might look like for each of the assets. But improving the sort of the curve so we do not have these wild variations. that is really a key for us, and then 1 life extension. So yeah, trying to push the bigger assets out to be multi decade. Which I think is in itself a fairly exciting outcome in the in The US and then the other 2 assets trying to develop a mine life for at least, you know, a decade. For each 1 of those again. And if you think about where we have come from, to where that might look like if those all those targets pay off. That will be that will be a significant improvement in amongst themselves. So lots to come, Don, as we as we finish off the work. Okay. Thanks for that, Rodney.

Don DeMarco: And my second and final question, is shifting over to costs. Despite year to date production tracking guidance, we saw in Q2 that ASIC exceeded annual guidance at Marigold, Seabee, and Puna What gives you confidence in achieving the consolidated ASIC guidance through H2?

Michael J. Sparks: Yes. So Don, I think part of it is just the normal timing of Q2, like I mentioned, a good chunk of our tax payments that go through they hit during Q2. And so that AISC was naturally elevated in that in this quarter. then it will get back to normalized coupled with the stronger production profile should put us in that higher end of guidance is what we are targeting.

Don DeMarco: Okay. Great. Well, thanks again and thank you for taking my questions.

Rodney Antal: Thanks, Don.

Operator: We have a follow-up question from George Eadie with UBS. Please go ahead.

George Eddy: Yes. Hi, team. Can I just ask about July at Marigold, how it went? Like, what was the average grade thrown on the pads and tonnes stacked? Was it nearly 2 million tonnes? Any color you can help with?

Rodney Antal: Yes, George, look, we do not disclose on the run for each individual asset, but we would not be talking about being on track for full year unless it was it was moving according to plan. Okay. that is cool. Thanks, Rob. Brilliant. Thanks.

Operator: This concludes the question and answer session and today's conference call. You may disconnect your lines. Thank you for participating. Have a pleasant day.