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U.S.-based SSR Mining entered into a definitive agreement to acquire Canada-based Roxmore Resources and its Converse gold project in Nevada for $464 million in an all-cash transaction. Converse is located 6 kilometers west of SSR Mining’s Marigold Complex.
Developing Converse as a contiguous asset to Marigold is expected to create opportunities for an expanded production profile in Nevada and deliver more than $200 million in life-of-mine synergies compared with developing the project on a stand-alone basis.
Under the terms of the transaction, Roxmore shareholders will receive C$6.75 per common share, plus common shares of a newly created gold exploration company that will hold interests in Roxmore’s Rattlesnake Hills project, Shabu River project, and Newton property. The new company will be funded with $10 million in cash, owned 85.01% by former Roxmore shareholders and 14.99% by SSR Mining, and led by key members of Roxmore’s current management team.
“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,” said Rod Antal, executive chairman of SSR Mining.
“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. Our due diligence process has been informed by our operational expertise at Marigold, including the technical work completed earlier this year for the construction of the nearby Buffalo Valley project. SSR Mining is the natural acquirer of this exciting deposit and developing an asset in close proximity to Marigold will allow for clear operating and financial efficiencies.”
SSR Mining envisions developing Converse as a contiguous asset to the Marigold Complex using the same $2,200/oz Mineral Reserve and $2,500/oz Mineral Resource pit shell assumptions used in the 2026 Marigold Complex technical report. Converse could add approximately 150,000–170,000 oz of gold production annually over an estimated 10-plus-year mine life, with initial production targeted for 2033.
The transaction is expected to be completed in the fourth quarter of 2026.
Source: SSR Mining
The post SSR Mining to purchase Roxmore Resources for $464M first appeared on North American Mining Magazine.