SSR Mining to buy Roxmore Resources for C$6.75 a share in cash deal
Roxmore shareholders will also get stock in a new spinout holding three exploration properties, with SSR Mining keeping a 14.99% stake
Published
SSR Mining has agreed to acquire all outstanding shares of Roxmore Resources for C$6.75 per share in cash. Roxmore shareholders will also receive shares in a newly formed spinout company that will hold Roxmore's Rattlesnake Hills, Shabu River and Newton properties. SSR Mining will keep a 14.99% stake in that spinout.
The cash portion values the deal at an estimated $464 million in fully diluted equity value and $392 million in enterprise value. SSR Mining plans to fund the purchase from its existing cash position. The deal's main prize is Roxmore's Converse Gold Project, which sits near SSR Mining's Marigold Complex in Nevada.
The transaction still needs approval from Roxmore securityholders and a court, and is expected to close in the fourth quarter of 2026. Roxmore would owe SSR Mining a C$18 million break fee if the deal falls through.
Funding the purchase entirely from cash, while carving the exploration assets into a separate spinout rather than folding them into its core operations, points to SSR Mining favouring a clean, non-dilutive addition over a paper-heavy merger. Pairing Converse Gold with the neighbouring Marigold Complex looks like a straightforward mine-life extension rather than a transformational move, in keeping with the proximity-driven dealmaking that has marked gold producer consolidation. The nearly year-long stretch to a fourth-quarter close, along with the break fee, leaves open the possibility of a rival bid or a regulatory delay before the deal is locked in.