Seabee Gold Operation Feasibility Study: $95M NPV Over a 4.2-Year Mine Life
SSR Mining Inc.'s Seabee Gold Operation in Saskatchewan, Canada has a Feasibility Study outlining an after-tax NPV of $95M. The proposed mine plan runs 4.2 years.
SSR Mining Inc.'s Seabee Gold Operation has reported Feasibility Study results for the gold project in Saskatchewan, Canada. The study headlines an after-tax net present value of $95M at a 5% discount rate. It reflects SSR Mining Inc.'s (SSRM) latest disclosed economics for the asset.
Economics. The after-tax NPV is $95M using a 5% discount rate. Economics are based on LOM average realized gold price of US$1,854/oz Au and silver price of US$23.74/oz Ag.
Production and mine plan. The project envisions an underground operation. Life of mine is 4.2 years. Metallurgical recovery averages 96.4%.
Resources and ownership. Royalties and streams: Private 3% NSR royalty on LOM revenues with Osisko Gold Royalties.
These figures are extracted from SSR Mining Inc.'s technical disclosures and reflect the most recent Feasibility Study on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Proven & Probable | 2.1 Mt | 5.17 g/t Au | 343,000 oz Au |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured | 0.9 Mt | 5.5 g/t Au | 16,300 oz Au |
| Indicated | 1.47 Mt | 4.3 g/t Au | 202,000 oz Au |
| Inferred | 2.75 Mt | 5.2 g/t Au | 462,500 oz Au |
Our Analysis
- NPV after-tax
- $95M
higher than 14% of 124 projects we track
- Mine life
- 4.2yrs
- Study price assumption
- LOM average realized gold price of US$1,854/oz Au and silver price of US$23.74/oz Ag
- Spot gold today
- $4,139.10/oz
In the universe of 124 gold projects we track, this one ranks higher than only 14% of its peers by after-tax NPV, a position that tells you more about the caliber of the field than the size of the asset. A US$95M NPV against a US$5.54B market cap is not a rounding error, but it is also not a needle-mover for a mid-cap with six other projects in its portfolio. The market is not ignoring this mine; it is correctly treating it as one modest contributor to a much larger story.
The durability question is where this project stands or falls. A 4.2-year mine life is short, and that is the constraint that matters most. This is a feasibility study, the build-ready estimate with a plus or minus 15% band, so the numbers carry real weight. But a feasibility study cannot extend a reserve. The investor is buying a brief, high-certainty production window in Saskatchewan, a mining-friendly jurisdiction, not a generational asset. The financing hurdle is low, the NPV sits well below the company's market cap, and the project is already in production, so the execution risk is more operational than developmental.
The price deck is where the caution flag flies. The study assumes a LOM average realized gold price of US$1,854/oz, while today's spot sits at $4,139.10/oz. That gap is enormous, and it cuts both ways: the project is wildly profitable at current prices, but the study's conservative assumption means the published NPV understates what the mine is likely generating right now. The question that decides whether this works is not whether the mine makes money, it is whether the company can replace the ounces before the 4.2-year clock runs out.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.