SSR Mining To Sell Royalty Portfolio TO EMX Royalty For US$100 Million

SSR Mining (TSX: SSRM) this morning announced that it will be selling off non-core assets of the firm. The assets to be sold consist of the firms royalty portfolio, with the transaction seeing the company take a large stake in EMX Royalty Corp (TSXV: EMX) as a result.

Under the terms of the arrangement, SSR Mining has agreed to sell off its royalty portfolio consisting of 18 royalty interests and what is referred to as “deferred consideration interests.” The interests reportedly cover global jurisdictions, including projects in Turkey as well as multiple projects scattered across the Americas.

The definitive agreement to sell the firms royalty portfolio comes with total consideration of US$100 million, of which US$33 million is in the form of cash. The remainder of the compensation is to consists of $33 million in shares of EMX Royalty, and $34 million in deferred compensation payments. The latter will see compensation provided as project development milestones are reached.

$66 million in initial consideration is to be payable upon closing as a result. Given the size of the transaction, SSR Mining expects to own roughly a 12% in EMX Royalty upon closing of the first portion of the transaction.

The transaction is currently expected to close by the fourth quarter of 2021.

SSR Mining last traded at $20.18 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Canaccord Slightly Lowers SSR Mining’s Price Target Off Back Of 2022 Guidance

Recently, SSR Mining Inc. (TSX: SSRM) announced full-year 2021 production results, a three-year outlook, and...

Friday, February 11, 2022, 05:10:00 PM

Taiga Gold: Constructive Gold Project Option Agreement Exercised

On January 5, SSR Mining Inc. (TSX: SSMR; market cap of $5.3 billion) announced that...

Sunday, January 10, 2021, 01:30:00 PM

Turkey Cancels Environmental Permits For SSR Mining’s Copler Mine, Detains Company Director

A massive landslide at Anagold Madencilik’s Copler gold mine in Turkey’s Erzincan province has left...

Monday, February 19, 2024, 11:10:00 AM

SSR Mining Guides To Between 680,000 And 760,000 Gold Equivalent Ounces Of Production For 2020

SSR Mining (TSX: SSRM) (NASDAQ: SSRM) this morning updated the market with its full year...

Friday, September 18, 2020, 08:49:39 AM

EMX Reports Potential $2.3 Million Loss Due to Cyber Attack in Turkey Subsidiary

EMX Royalty Corporation (TSXV: EMX) has announced that one of its subsidiaries in Turkey has...

Wednesday, May 15, 2024, 08:05:38 AM