SSR Mining To Sell San Luis Project For Up To $42.5 Mln

(RTTNews) - SSR Mining Inc. (SSRM) Thursday announced its decision to sell its San Luis Project to Highlander Silver Corp. for up to $42.5 million.

The deal is expected to be accretive to SSR Mining on a NAV per share basis, based on street consensus estimates, the company said in a statement.

The transaction consists of an upfront payment of $5 million, and up to $37.5 million in contingent payments payable in cash in five installments.

As per the deal, SSR Mining will retain a 4% net smelter returns royalty on the Project, which will be granted prior to the closing of the Transaction.

The deal is expected to close in the first quarter of 2024.