SSR to buy Roxmore for $464M, boosts value of Nevada gold mine

AI desk brief

SSR Mining agreed to buy Roxmore Resources for C$660.1 million ($464 million) to gain the nearby Converse project, which could add 150,000-170,000 oz/year of gold production over 10 years and lift SSR’s U.S. output profile materially. The deal comes alongside an updated Marigold plan that extends mine life to 20 years, boosts probable reserves 43% to 4.6 million oz., and raises life-of-mine production 46% to 3.2 million oz., with Marigold’s post-tax NPV now seen at $3.3 billion at a $3,948/oz gold assumption.

SSR’s shares fell 7% on Tuesday despite the acquisition, likely reflecting the large initial capital requirements at Converse; Roxmore jumped 30% to a fresh 52-week high. Scotia’s Ovais Habib said the transaction should be NAV-accretive and consistent with SSR’s low-capital-intensity growth strategy, while management highlighted operating efficiencies from using existing Marigold infrastructure.