SSR Mining to Acquire Roxmore Resources in $464 Million Strategic Nevada Expansion

Key numbers

Deal value	$464M
Share of market cap	6.4%
Share of annual revenue	28.5%

Key highlights

• Cash consideration of C$6.75 per share represents a 27% premium to Roxmore's most recent closing price
• SSR Mining targets over $200 million in life-of-mine synergies by integrating Converse with the Marigold Complex
• The deal adds 150,000 to 170,000 ounces of potential annual gold production over a 10-year period
• Roxmore will spin off non-core exploration assets into a new entity, SpinCo, with SSR Mining retaining a 14.99% stake
• Transaction to be funded entirely from SSR Mining's existing cash reserves without immediate capital expenditure requirements

What Is the Deal?

SSR Mining Inc. has entered into a definitive arrangement agreement to acquire 100% of Roxmore Resources Inc. for C$6.75 per share in cash. The transaction carries a fully-diluted equity value of approximately $464 million and an enterprise value of $392 million. The acquisition will be executed via a court-approved plan of arrangement in British Columbia, requiring approval from two-thirds of Roxmore shareholders. Following the close, SSR Mining will integrate the Converse Gold Project into its Nevada platform, utilizing its current balance sheet to fund the purchase without the need for external financing.

Deal Structure & Terms

• Cash consideration of C$6.75 per share for all issued and outstanding Roxmore common shares
• Creation of SpinCo to hold the Rattlesnake Hills, Shabu River, and Newton exploration properties
• SpinCo to receive $10 million in initial cash funding from Roxmore operating accounts
• SSR Mining to retain a 14.99% equity interest in SpinCo, with 85.01% held by former Roxmore securityholders
• Agreement includes a C$18.0 million termination fee payable by Roxmore under specific conditions
• Closing is contingent on no more than 10% of Roxmore shareholders exercising dissent rights

Strategic Rationale

The primary driver of the acquisition is the Converse Gold Project, located just six kilometers from SSR Mining's Marigold Complex on the Battle Mountain-Eureka Trend. By developing Converse as a contiguous asset, SSR Mining expects to leverage existing infrastructure to capture over $200 million in synergies. The company envisions an expanded production profile that could reach 450,000 ounces of annual production during peak years between 2033 and 2042. This move reinforces SSR Mining's position as the third-largest gold producer in the United States while focusing on low capital intensity growth within a core mining jurisdiction.

Financial and Industry Context

SSR Mining enters this transaction with a strong financial profile, reporting TTM revenue of $1.63 billion and a current market capitalization exceeding $7.2 billion. The company has been active in portfolio optimization, recently divesting a 20% stake in the Hod Maden project and acquiring the Cripple Creek & Victor mine. This latest acquisition aligns with broader sector trends where major producers are seeking to consolidate assets near existing operations to mitigate rising costs. With no material capital expenditures expected for Converse until the early 2030s, SSR Mining maintains flexibility for its upcoming financial milestones, including the Q3 2026 earnings release.

Down 6.6% since our story on 13 Oct: $35.44 when we broke it → $33.10 at the close on 13 Oct. Daily closing prices. Source: Yahoo Finance.

Show the prices

14 Sep	$34.81
15 Sep	$35.24
16 Sep	$35.22
17 Sep	$36.15
18 Sep	$36.33
21 Sep	$36.61
22 Sep	$38.30
23 Sep	$36.30
24 Sep	$35.82
25 Sep	$35.68
28 Sep	$33.84
29 Sep	$33.94
30 Sep	$33.32
1 Oct	$33.42
2 Oct	$33.27
5 Oct	$33.91
6 Oct	$34.28
7 Oct	$32.75
8 Oct	$33.62
9 Oct	$35.51
12 Oct	$35.44
13 Oct	$33.10

SSR MINING INC. · financial snapshot

Share price	$35.44
Market cap	$7.2B
Revenue (annual)	$1.6B
P/E (TTM)	11.9×
1-month price change	-2.13%
Sector	Basic MaterialsGold

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.