SSR Mining has agreed to acquire Roxmore Resources for C$6.75 a share in cash plus stock in a spun-out explorer, valuing the TSX-listed company's equity at about US$464m.
Why SSR Mining is buying Roxmore Resources
Roxmore's Converse project sits six kilometres west of SSR's Marigold complex on Nevada's Battle Mountain-Eureka trend. SSR plans to develop it as a contiguous operation, targeting 150,000-170,000 ounces a year over a 10-plus-year life from 2033 and more than US$200m of life-of-mine synergies versus a standalone build.
Deal terms and financing
Roxmore holders receive C$6.75 per share in cash, a 27% premium to the 9 October close, plus shares in a new company holding the Rattlesnake Hills, Shabu River and Newton properties, 14.99% of which SSR will own. The equity value is about US$464m and enterprise value US$392m, excluding SpinCo. SSR will pay from its existing cash. Holders of about 26.8% of Roxmore have signed voting support agreements.
Regulatory approvals and timing
The arrangement needs approval by two-thirds of votes cast at a Roxmore securityholder meeting and court approval, and is expected to close in the fourth quarter of 2026. Roxmore would pay a C$18m break fee in certain circumstances.
Market context
Initial construction capital for Converse is estimated at US$800m-900m, with no material spending expected until the early 2030s. SSR shares fell about 7% on the news, while Roxmore rose about 30%.
