SSR Mining plans $712M Roxmore acquisition

SSR Mining announced Monday a definitive agreement to acquire all outstanding shares of Roxmore Resources for C$6.75 per share in cash plus 0.33 share of a new exploration spinout valued at about C$0.50 per Roxmore share. The deal adds the Converse Gold Project, six kilometers from SSR’s Marigold Complex in Nevada, with a 2026 estimate of 2.2 million ounces indicated and 3.0 million ounces inferred gold. SSR targets 150,000–170,000 ounces of annual production over about 10 years, first output in 2033, $800–900 million in initial construction capital, and more than $200 million in life-of-mine synergies. Executive Chairman Rod Antal said, "SSR Mining is the natural acquiror of this exciting deposit." Shares fell in premarket trading. Deal value and premium figures conflict across sources: a wire summary cites about C$712 million and a roughly 58% premium to the 20-day VWAP, while GuruFocus, MarketScreener and Investing.com report about $464 million equity value (enterprise value ~$392 million), a 27% premium to the Oct. 9, 2026 close and 47% to the 20-day VWAP. The spinout, capitalized with US$10 million and led by Roxmore’s John Dorward, holds other exploration assets; shareholders retain 85.01%. Board approval is unanimous; voting pacts cover 26.8%. Close is expected in the fourth quarter of 2026 pending approvals.