Alacer and SSR ready for shareholder votes
Wednesday, June 10th, 2020
The shareholders of gold miners Alacer Gold and SSR Mining will meet on Thursday to vote on a C$2.4-billion merger.
Under the transaction, Alacer shareholders would receive 0.3246 SSR Mining shares for each Alacer share held, implying a consideration of C$8.19 a common share, and valuing Alacer at C$2.41-billion.If the transaction is completed, SRR Mining would hold a 57% interest in the combined entity, while Alacer shareholders would hold a 43% interest.
The transaction would require at least 66% of Alacer shareholders to vote in favour of the deal, with SSR Mining also having to obtain majority shareholder approval for the issuance of its shares.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 combined company, which would continue to trade as SSR Mining, 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.
The directors of both boards have unanimously recommended that shareholders approve the offer.https://www.miningweekly.com/article/alacer-and-ssr-ready-for-shareholder-votes-2020-06-10