SSR Mining to acquire Roxmore Resources for US$464 million

SSR Mining has entered into a definitive agreement to acquire Roxmore Resources in an all-cash transaction valued at an estimated US$464 million equity value. The deal includes the acquisition of the Converse Gold Project in Nevada, located approximately six kilometers from SSR Mining’s Marigold Complex.

Under the terms of the arrangement, Roxmore shareholders will receive C$6.75 per share in cash and equity in a newly formed exploration company, referred to as SpinCo. This new entity will hold interests in the Rattlesnake Hills Project, Shabu River Project, and Newton Property. SSR Mining will retain a 14.99 per cent minority interest in SpinCo, while former Roxmore shareholders will own 85.01 per cent.

SSR Mining expects the Converse project to add between 150,000 and 170,000 ounces of gold annually over a mine life exceeding 10 years, with initial production targeted for 2033. The company anticipates the acquisition could generate over US$200 million in undiscounted life-of-mine synergies through operational efficiencies. The transaction's enterprise value is estimated at US$392 million.