SSR Mining has entered into a definitive agreement to acquire Roxmore Resources in an all-cash transaction, with an estimated fully diluted equity value of about $464 million and an enterprise value of $392 million. The acquisition will add Roxmore’s Converse Gold Project in Nevada to SSR Mining’s U.S. portfolio.
Roxmore shareholders will receive C$6.75 per share in cash as well as shares in a newly created exploration company that will hold Roxmore’s Rattlesnake Hills Project, Shabu River Project and Newton Property. The cash consideration represents a 27% premium to Roxmore’s October 9, 2026 closing price and a 47% premium to its 20-day volume-weighted average price. SSR Mining will fund the acquisition from cash on its balance sheet. SSR Mining Announces the Acquis…
The Converse Gold Project is located approximately six kilometers from SSR Mining’s Marigold Complex in Nevada. SSR Mining plans to evaluate Converse as a contiguous extension of Marigold and estimates the combination could generate more than $200 million of undiscounted life-of-mine synergies through reduced administrative costs, procurement efficiencies and other operating benefits.
Converse contains indicated resources of approximately 2.2 million ounces of gold and inferred resources of approximately 3 million ounces. SSR Mining estimates the project could eventually add approximately 150,000 to 170,000 ounces of annual gold production over an estimated mine life of more than 10 years, with initial production targeted for 2033. Initial construction capital is estimated at $800 million to $900 million, with no material development spending expected until the early 2030s.
When combined with Marigold and the Cripple Creek & Victor operation in Colorado, SSR Mining believes its U.S. portfolio could produce approximately 350,000 to 400,000 ounces of gold annually through much of the 2030s. The company said the acquisition reinforces its position as the third-largest gold producer in the United States.
The transaction is expected to close in the fourth quarter of 2026, subject to Roxmore shareholder approval, court approval and other customary closing conditions. Roxmore directors, senior executives and certain major shareholders representing approximately 26.8% of its fully diluted shares have agreed to support the transaction.
KEY QUOTES:
“The acquisition of Roxmore and its Converse Gold Project represents a compelling opportunity to add a high-quality multi-million ounce gold resource next door to our Marigold mine at an attractive valuation. We have been carefully monitoring the progress of the Converse deposit for some time, and have conducted a focused due diligence review of the asset.”
“Building on the multi-decade mine life we have now defined for Marigold, Converse has the potential to add 150,000 to 170,000 ounces of average annual gold production to our US operations. The Transaction further reinforces the quality and scale of our platform in the USA and demonstrates our commitment to deliver value accretive growth in our core jurisdictions.”
“The acquisition will be fully funded from our existing cash position and is aligned with our disciplined capital allocation strategy. Additionally, with no material development spend until the early 2030s, the Transaction ensures SSR Mining retains its free cash flow leadership, supporting the potential for continued, peer-leading capital returns.”
Rod Antal, Executive Chairman Of SSR Mining
