SSR Mining agrees $464 million Roxmore acquisition
- SSR Mining (NASDAQ:SSRM) agreed to acquire Roxmore Resources for approximately $464 million, adding the Converse Gold Project near its Marigold Complex in Nevada.
- The transaction gives SSR Mining access to a gold resource containing 2.2 million ounces of indicated gold resources and 3 million ounces of inferred resources.
- SSR Mining said the acquisition could support future production growth and create more than $200 million in estimated life-of-mine synergies.
SSR Mining (NASDAQ:SSRM) entered a definitive agreement to acquire all outstanding shares of Roxmore Resources (TSX:RM) through a court-approved plan of arrangement, adding the Converse Gold Project to its Nevada operations.
The Converse project is located six kilometers west of SSR Mining’s Marigold Complex on the Battle Mountain–Eureka Trend, with SSR Mining planning to develop the project as a connected asset to Marigold.
Under the agreement, Roxmore shareholders will receive C$6.75 per share in cash and shares of a newly created exploration company holding Roxmore’s other projects, with the transaction’s fully diluted in-the-money equity value estimated at approximately $464 million.
SSR Mining said Converse could potentially add approximately 150,000 to 170,000 ounces of annual gold production over an estimated 10-plus-year mine life, with initial production targeted for 2033 and estimated initial capital spending of $800 million to $900 million.
SSR Mining operates gold and silver mining assets across multiple regions, including the Marigold Complex in Nevada and Cripple Creek & Victor in Colorado, with a focus on precious metals production and resource development.
