Why SSR Mining Stock Just Popped

SSR Mining (NASDAQ: SSRM) banal soared 11.6% done 11:15 a.m. ET Wednesday, and it's not hard to fig retired why:

In a filing with the SEC, SSR Mining announced this greeting it volition merchantability its full 80% involvement successful its Turkish Copler golden excavation to Cengiz Holding A.S.

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Two years ago, a catastrophic landslide outgo the lives of 9 miners and caused SSR to suspend mining operations astatine its Copler mine. At the time, SSR predicted it would instrumentality "a full of 24 to 36 months to complete" repairs connected the mine, and to remediate the effects of the landslide, astatine a full outgo of "between $250 cardinal to $300 million."

Two years later, Copler inactive isn't operational.

Instead of completing the work, SSR has elected to merchantability its involvement successful the excavation to section conglomerate Cengiz for $1.5 billion. The transaction is expected to adjacent wrong 120 days of signing a definitive agreement, truthful this should hap earlier the extremity of H1 2026.

There are a mates ways of looking astatine this. On the downside, SSR Mining is giving up Copler and each the wealth it could person made from reopening the excavation astatine immoderate aboriginal day and from digging retired and selling each the golden it contains. On the upside, SSR is redeeming itself the further outgo of repairing the mine, and getting $1.5 cardinal successful currency up beforehand -- currency it tin deploy to grow enactment astatine its different mines, and adjacent astatine the company's abstracted Hod Maden improvement task successful Turkey.

With $1.5 cardinal successful caller currency added to the company's existing currency reserves, much than a 4th of the company's marketplace headdress volition beryllium backed up by cold, hard cash.

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