SSR Mining (SSRM.TO, SSRM) edged down in after-hours New York trade Tuesday as it reported lower adjusted earnings for the fourth quarter while booking the costs of a deadly incident at its Copler mine in Turkiye a year ago.

On February 13, 2024, SSR Mining suspended all operations at its Copler property in Turkiye, following the collapse of its heap leach pad. Nine employees lost their lives in the collapse and the company still does not know when, how, or if it will restart operations there.

Just over a year later, SSR reported a profit of US$5.6 million, or US$0.03 per share, compared to a loss of US$217.8 million, or $1.07, a year earlier.

Adjusted net income, excluding most one-time items, was US$21.3 million, or US$0.10, compared to US$127 million or US$0.59 a year earlier. Under U.S. accounting principles care and maintenance costs are included in adjusted net income. For the fourth quarter care and maintenance costs totaled $35.9 million, or $0.18 per diluted share.

In the fourth quarter, SSR Mining generated $95.0 million in operating cash flow and $56.4 million in free cash flow.

Among operating results, fourth quarter 2024 production was 124,154 gold equivalent ounces at a consolidated cost of sales of US$1,295 per payable ounce and all-in sustaining costs of US$1,857 per payable ounce.

As operations at Copler remain suspended following an incident there almost one year ago, SSR Mining's full-year all-in sustaining costs (AISC) included US$60.8 million in cash care and maintenance costs at Copler, or US$155 per ounce of gold equivalent sold.

Meanwhile, full-year 2024 production from Marigold, Seabee and Puna mines totaled 371,061 gold equivalent ounces at cost of sales of US$1,317 per payable ounce and AISC of US$1,542 per payable ounce. SSR Mining said it recognized two production milestones in 2024, including five-million ounces of life of mine gold production from Marigold, achieved on December 30, as well as record full-year silver production at Puna.

SSR Mining said continues to work closely with the relevant authorities to advance the restart of the Copler mine. "When all necessary regulatory approvals, including the operating permits, are reinstated, it is anticipated that initial operations at Copler could restart within 20 days and would consist of processing a combination of stockpiled ore and ore mined from Cakmaktepe, while the remediation work continues. At this time, we are not able to estimate or predict when and under what conditions we will resume operations at Copler," it stated.

The company's shares were last seen down US$0.06 to US$9.27 after hours. They closed up $0.31 to $13.27 on the Toronto Stock Exchange.