BUZZ-SSR Mining dips after new CFO appointment, leadership changes

Reuters03-09

** Shares of gold miner SSR Mining down 2.5% at C$5.88

** Co appoints insider Michael Sparks as CFO, succeeding Alison White, and makes other executive changes

** SSRM says changes will provide an opportunity to realign accountabilities to better support the business, particularly as the company continues to navigate and assess the impacts of the Copler mine incident in Turkey

** Operations at company's Copler gold mine were suspended after nine miners went missing after a landslide last month, leading to a suspension of dividend and share repurchase program

** Not immediately clear how these changes better support the business, given Sparks' background in law, not accounting, says National Bank of Canada analyst Don DeMarco

** SRM names current chief corporate development officer, F. Edward Farid as chief strategy officer

** Appointment of Farid implies corporate development function has been throttled back, not unexpected due to SRM's focus on Copler - DeMarco

** SSRM had also retracted its 2024 and long-term outlook for Copler and Turkey operations

** Stock has fallen ~58% so far this year

($1 = 1.3449 Canadian dollars)

(Reporting by Kabir Dweit)

((Kabir.Dweit@thomsonreuters.com;))

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