M&A
confidence high
sentiment positive
materiality 0.75
SSR Mining acquires up to 40% stake in Hod Maden gold-copper project for $270M
SSR MINING INC.
- Aggregate consideration $270M: $120M upfront cash for 10% interest, $150M earn-in for additional 30%.
- Project in northeastern Türkiye; average annual production ~195k oz gold equivalent (100% basis) over 13 years.
- First production expected in 2027; SSR Mining becomes operator immediately.
- Transaction accretive to NAV, reserves, production, and free cash flow per share; projected after-tax IRR >15% post acquisition costs.
- Based on 2021 Feasibility Study: AISC of $588/oz co-product, NPV5% $1.05B, 36% IRR at $1,599/oz gold and $3.19/lb copper.