SSR Mining agrees to acquire Roxmore Resources for C$6.75 per share

Canadian-listed mining company SSR Mining Inc. has signed a definitive agreement to acquire gold developer Roxmore Resources for C$6.75 per share in cash, along with shares in a newly formed exploration company. The cash offer represents a 47% premium over Roxmore's 20-day volume-weighted average price, valuing Roxmore's equity at approximately US$464 million.

The transaction centers on Roxmore's Converse gold project, located in Nevada. Converse contains an estimated 5.2 million ounces of gold resources at an average grade of about 0.5 grams per tonne. The property is situated approximately 6 kilometers from SSR Mining's operating Marigold mine.

Under the proposed plan of arrangement, Roxmore shareholders will also receive equity in an exploration spin-off company referred to as SpinCo. The spin-off business will retain Roxmore's additional properties and will be capitalized with US$10 million in cash reserves.

In an analysis published by Crux Investor, executives from Olive Resource Capital examined the valuation metrics of the agreement. Derek Macpherson, executive chairman of Olive Resource Capital, and Samuel Pelaez, president, chief executive officer, and chief investment officer at the firm, calculated the acquisition price at roughly US$95 per resource ounce.

Macpherson and Pelaez noted that this figure is lower than the roughly US$400 per ounce paid in two other recent large gold developer takeovers. They attributed the modest 47% cash premium to a short list of potential buyers in the market and a share price for Roxmore that remained stable prior to the announcement.

SSR Mining maintains substantial cash reserves to complete the purchase, having reported roughly US$1.78 billion in cash at the end of the second quarter of 2026.

To complete the deal, at least two-thirds of votes cast by Roxmore security holders must be in favor, in addition to obtaining court approval. The transaction is expected to close in the fourth quarter of 2026.