SSRM News & Events

SSR Mining announces that it has entered into a definitive agreement with Lidya Mines to sell its 20% ownership stake and its operatorship position in the Hod Maden development project for an uncapped 4.0% net smelter return royalty, or NSR, on 100% of the Project. The royalty consideration received by SSR Mining is expected to deliver an accretive outcome for shareholders. Concurrently with the Transaction, Royal Gold, which is a partner in the Project, will sell 15% of its ownership interest in the Project to Lidya Mines in exchange for an uncapped 2.5% NSR on 100% of the Project. Royal Gold's 2.5% NSR will be issued with substantially the same key terms as the 4.0% NSR issued to SSR Mining. Royal Gold will also hold a fixed price call right to acquire 2.0% of the NSR from SSR Mining for $160M, expiring 12 months following declaration of commercial production at the Project. Additionally, Royal Gold will hold a consent right on the sale of SSR Mining's NSR prior to January 1, 2028, and a right of first refusal in connection with any sale of the SSR Mining NSR. Upon entering into the agreements related to the Transaction, Lidya Mines will become operator of the Project. Upon closing of the Transaction, Lidya Mines will own 85% and Royal Gold will own 15% of the Project. SSR Mining's total invested capital into Hod Maden, inclusive of upfront acquisition cost, earn-in and capital spend to date is approximately $243M. With the announcement of this Transaction, SSR Mining will resign as project operator and will have no further funding obligations, with such obligations being assumed by Lidya Mines. The Transaction will be completed on an as-is, where-is basis and SSR Mining will not provide any material post-closing indemnities. The Transaction is expected to close in the Q3. The closing of the Transaction will be subject to receipt of regulatory approval from the Turkish General Directorate of Mining and Petroleum Affairs, as well as other consents and approvals that may be required in connection with the Transaction, and other customary conditions.

Reports Q1 revenue $581.778M, consensus $533.68M. Rod Antal, Executive Chairman of SSR Mining, said, "The first quarter of 2026 marked a significant milestone for our business with the definitive agreement to sell our ownership in Copler for $1.5 billion in cash. This transaction, together with last year's extremely successful acquisition of Cripple Creek & Victor, positions SSR Mining firmly in the Americas and re-establishes our Company as a leader in free cash flow generation. In the first quarter, we generated $300 million in operating cash flow and $211 million in free cash flow. Subsequent to quarter-end, we returned $300 million to shareholders through our share buyback program. Looking ahead, we are in the strongest financial position in our company's history. We expect our low-risk, free cash flow leading Americas-focused platform to support a premium valuation as we regain our position as a leading mid-cap gold producer."