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2 clusters · 4 sources · 15 days · First seen · Last updated

SSR Mining corporate and market developments

Overview

SSR Mining experienced a period of market volatility followed by a major corporate expansion. Initially, the company’s shares saw a significant decline, gapping down from a previous close of $35.68 to an opening of $33.64, coinciding with a nearly 3.9% drop in gold prices to approximately $4,154 per ounce.

Despite this market pressure, the company later entered into a definitive agreement to acquire Roxmore Resources in an all-cash transaction valued at an estimated US$464 million equity value. This acquisition includes the Converse Gold Project in Nevada, which is expected to add between 150,000 and 170,000 ounces of gold annually with initial production targeted for 2033. As part of the deal, a new entity named SpinCo will be formed to hold interests in the Rattlesnake Hills, Shabu River, and Newton projects, with SSR Mining retaining a 14.99 per cent minority interest.

Entities

SSR Mining · Bank of America · Royal Bank of Canada · BMO Capital · Roxmore Resources

Timeline

  1. [BUSINESS] 2 sources
    SSR Mining to acquire Roxmore Resources for US$464 million

    SSR Mining is acquiring Roxmore Resources for approximately US$464 million, adding Nevada’s Converse Gold Project to its portfolio and creating a new exploration company for remaining assets.

  2. [BUSINESS] 2 sources
    SSR Mining shares decline amid falling gold prices

    SSR Mining shares fell following a decline in gold prices. While interest rate concerns impact gold attractiveness, several analysts maintain positive ratings for the mining company.

Sources

mugglehead.com · pulse2.com · stocknews.com · theascent.com