SSR Mining Inc. announced that it will acquire all shares of Roxmore Resources Inc. for approximately $464 million, including access to Roxmore’s Converse gold project in the Eureka Trend, Nevada, USA. Under the terms of the transaction, Roxmore shareholders will also receive common shares of a newly created gold exploration company (SpinCo) that will hold interests in Roxmore’s Rattlesnake Hills Project, Shabu River Project and Newton Property. SpinCo will be owned 85.01% by former Roxmore shareholders and 14.99% by SSR Mining and will be led by key members of Roxmore’s current management team. Subject to the satisfaction of certain conditions, the transaction is expected to be completed in Q4 2026.
The Converse gold project is located 6 kilometers (km) west of SSR Mining’s Marigold Complex on the Battle Mountain trend. 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 to the development of the project on a stand-alone basis.
SSR Mining says the transaction will add a multi-million-ounce heap leachable resource to its portfolio, providing a clear pathway to future production growth and district-scale development. Under SSR Mining’s proposed development approach, Converse has the potential to add approximately 150,000 to 170,000 ounces (oz) of gold production annually over an estimated 10+ year mine life, with initial production targeted for 2033. Combined with Marigold and Cripple Creek & Victor (CC&V), the company’s active gold mine in Colorado, and its production profile, SSR Mining said it has the potential to produce 350,000 to 400,000 oz of annual gold production from the USA through the 2030s.
Marigold has been in operation since 1989, providing SSR Mining with extensive operational experience, established stakeholder relationships and a track record of delivering value in the region. SSR Mining plans to build upon the extensive due diligence completed on Converse to further optimize the project, focusing first on environmental baseline studies, permitting, flowsheet optimization and technical de-risking activities.
“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,” said Rod Antal, executive chairman of SSR Mining. “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.”
In related news, SSR Mining announced a 20-year life of mine plan for its Marigold Gold Complex in Nevada, USA, including 15 years of active mining. The plan is supported by 4.6 million ounces (oz) of gold mineral reserves, a 43% increase from year-end 2025. The plan forecasts total gold production of approximately 3.3 million oz, with average annual production of 231,000 oz from 2027–2031, declining to approximately 201,000 oz through 2040.
A key component for Marigold is the development of the adjacent Buffalo Valley project, which holds 700,000 oz of reserves and is expected to begin production in 2029. SSR Mining said it plans to invest approximately $542 million in growth capital for Buffalo Valley development, expanded heap-leach facilities and additional mining equipment.
The post SSR Acquires Roxmore, Updates Marigold Plan appeared first on E & MJ.
