SSR, Alacer Gold cleared to merge

Wednesday, September 16 has been pencilled as the closing date of the two companies’ pending merger, part of a $C2.41 ($2.5 billion) buyout deal which was first announced in May.

The combined value of the SSR and Alacer gold was estimated to be $US4 billion ($5.5 billion) at the time of the announcement in May.

SSR Mining is a Canadian precious metals producers with three operations in the United States, Canada and South America.

Alacer, which is listed on the ASX, is an intermediate gold producer and operates the Çöpler gold mine in Turkey, which produced 391,213 ounces of gold last year.

The new SSR Mining is expected to enter the official list of the ASX on Thursday, September 17 2020.

The board will consist of five current SSR Mining and Alacer boards of directors when the transaction is completed.

“The zero-premium merger of SSR Mining and Alacer creates an exciting leading intermediate gold producer with exceptional financial strength, robust margins, strong cash flow generation, and long mine lives that will be run by highly experienced management with a track record of value creation,” SSR Mining president and chief executive officer Paul Benson said in May.

“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.”