SSR Mining has agreed to acquire all the issued and outstanding shares of Roxmore Resources in an all-cash transaction valued at approximately $464m (C$659.05m) on a fully diluted, in-the-money equity basis.
This excludes the value of a newly formed gold exploration company called SpinCo.
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The acquisition will be completed through a court-approved plan of arrangement under British Columbia law.
Under the terms of the deal, Roxmore shareholders will receive C$6.75 in cash per share, representing a 27% premium to the closing price on 9 October 2026 and a 47% premium to the 20-day volume-weighted average price.
Shareholders will also receive shares in SpinCo, which will hold certain Roxmore exploration assets and be funded with $10m.
The main asset to be acquired is Roxmore’s Converse gold project in Nevada, located around 6km from SSR Mining’s existing Marigold Complex along the Battle Mountain-Eureka Trend.
According to a 2026 mineral resource estimate, the project contains 103 million tonnes (mt) of indicated resources grading 0.65 grams per tonne (g/t) for 2.2 million ounces (moz) of gold, alongside 218mt of inferred resources at 0.43g/t for 3moz.
SSR Mining plans to develop Converse as an adjacent operation, aiming to increase its annual gold production in the US by approximately 150,000–170,000oz over more than a decade once production begins, targeted for 2033.
Combined production from Marigold, Converse and its Cripple Creek & Victor mine in Colorado could average between 350,000 and 400,000oz per year between 2033 and 2042, according to company expectations.
Construction capital is estimated at $800m–900m, although no significant expenditure is anticipated before the early 2030s.
SSR Mining executive chairman Rod Antal said: “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.”
SSR Mining will fund the acquisition entirely from its current cash reserves.
The US Bureau of Land Management will lead the permitting process for the project.
Completion of the transaction, expected in the fourth quarter of 2026, requires approval from at least two-thirds of Roxmore securityholders and court sanction.
Directors, senior executives and certain major shareholders representing approximately 26.8% of outstanding shares on a fully diluted basis have committed to vote in favour.
