SSR Mining to buy Alacer Gold in C$2.4bn share deal
Gold miners SSR Mining and Alacer Gold on Monday announced their at-market merger of equals, creating a company with assets in the US, Canada, Argentina and Turkey.
Shareholders in TSX- and ASX-listed Alacer would receive 0.3246 SSR Mining shares for each Alacer share held, implying a consideration of C$8.19 a common share, valuing Alacer at C$2.41-billion.
The combined entity would continue as SSR Mining, with headquarters in Denver, Colorado, and corporate head offices in Vancouver, British Columbia.
"Our focus at Alacer over the past several years has been on generating peer-leading free cash flow – this merger allows us to continue this strategy while diversifying our single operating asset exposure," said Alacer CEO Rod Antal, who would become president and CEO of the new SSR Mining.
SSR Mining owns three operations, including the Marigold gold mine in Nevada, US, the Seabee gold operations in Saskatchewan, Canada and Puna Operations in Jujuy, Argentina.
Alacer's cornerstone asset is the Çöpler gold mine, in Turkey.
The new SSR would have a three-year average yearly production profile of about 780 000 oz of gold equivalent at an all-in sustaining cost of $900/oz.
"Consistent with our long-standing strategy of growth through a combination of organic development and M&A, the new SSR Mining will be well positioned to build on the strong foundation of both companies to continue growing and delivering value for all shareholders," said SSR Mining current CEO Paul Benson.
At closing, SSR Mining and Alacer shareholders would collectively own about 57% and 43% of SSR Mining, respectively, on an issued and outstanding share basis.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation