The shareholders of precious metals miners SSR Mining and Alacer Gold have approved their at-market merger, with only court approval still required for the transaction to close.
On closing, each of Alacer’s shares will be exchanged for 0.3246 of an SSR common share.
The transaction was approved by about 99.9% of the votes cast by Alacer shareholders at the special meeting of shareholders that was held on Friday, representing 79.9% of eligible shares voted.
SSR shareholders approved the issuance of common shares to complete the transaction by about 96.5% of the votes cast at SSR’s special meeting of shareholders that was also held on Friday, representing 61.8% of eligible shares voted.
The combined entity will continue as SSR Mining, with headquarters in Denver, Colorado, and corporate head offices in Vancouver, British Columbia.
The new SSR will 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.
At closing, SSR Mining and Alacer shareholders will collectively own about 57% and 43% of SSR Mining, respectively, on an issued and outstanding share basis.