SSR Mining's Strategic Move: The Acquisition of Cripple Creek

SSR Mining Inc. has made a strategic move by announcing its acquisition of the Cripple Creek & Victor Gold Mine (CC&V) from Newmont Corporation for $100 million in cash, with an additional potential for $175 million in milestone payments. This acquisition not only boosts SSR Mining's production capacity but also positions it as the third-largest gold producer in the U.S., increasing its annual gold output by approximately 170,000 ounces to an estimated total of 300,000-400,000 ounces.

The acquisition aligns with SSR Mining's commitment to enhancing free cash flow and portfolio diversification through the acquisition of high-quality, long-lived assets. CC&V, which has a solid operational history of over 30 years and significant mineral reserves and resources, will add strategic value to SSR Mining’s asset base. As of December 31, 2023, the mine had reported approximately 1.3 million ounces in proven gold reserves and an additional 1.6 million ounces classified as measured and indicated resources.

SSR Mining plans to fund the upfront payment through its existing liquidity, amounting to over $800 million. The purchase is expected to be accretive across various key financial metrics, including net asset value, operating cash flow, and free cash flow. The transaction structure maintains SSR Mining’s balance sheet strength while ensuring immediate cash flow contributions from CC&V.

Rod Antal, Executive Chairman of SSR Mining, emphasized that the acquisition represents a rare opportunity to enhance their operational footprint in a tier-one jurisdiction. SSR Mining is committed to upholding CC&V’s operational excellence and engaging with local communities effectively as they integrate their operations. The transaction is anticipated to close in the first quarter of 2025, subject to regulatory approvals.



In conclusion, SSR Mining's acquisition of the Cripple Creek & Victor Gold Mine is a strategic move that strengthens the company's position in the U.S. gold production market while preserving its balance sheet strength. The acquisition of this high-quality producing asset aligns with SSR Mining's focus on free cash flow generation and portfolio diversification, setting the stage for continued growth and success.