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Get filing alertsSSR Mining exits Turkey, sells Hod Maden stake for 4% uncapped royalty
Filed May 18, 2026 · Period ending May 18, 2026 · ~1 min read
Key Changes
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SSR Mining sold its 20% equity interest and operatorship in Turkey's Hod Maden development project to Lidya Mines for a 4.0% uncapped net smelter return royalty on 100% of the project, eliminating $243M in sunk capital and all future funding obligations.
Item 8.01 verify on EDGAR → -
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Royal Gold holds a call option to purchase 2.0% of the NSR for $160M within 12 months of commercial production, plus consent rights on any SSR Mining NSR sale before January 1, 2028, and right of first refusal on future sales.
Exhibit 99.1 view on EDGAR → -
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Transaction completes SSR Mining's strategic exit from Turkey (following Çöpler mine sale) and refocuses the company entirely on Americas operations, anchored by Marigold and Cripple Creek & Victor mines in the United States.
Exhibit 99.1 view on EDGAR → -
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Transaction expected to close in Q3 2026, subject to regulatory approval from Turkish mining authorities and other customary closing conditions.
Exhibit 99.1 view on EDGAR →
Summary
SSR Mining has completed its strategic pivot to a pure Americas-focused gold and silver producer by selling its 20% stake and operatorship in Turkey's Hod Maden development project to Lidya Mines. In exchange, the company receives a 4.0% uncapped net smelter return royalty on 100% of the project—converting $243 million in sunk capital and ongoing funding obligations into a passive revenue stream if Hod Maden reaches production. Royal Gold's call option could deliver an additional $160 million cash while leaving SSR Mining with a 2% royalty, though Royal Gold's consent rights limit near-term monetization flexibility.
This transaction, combined with the previously announced Çöpler mine sale and Cripple Creek & Victor acquisition, finalizes SSR Mining's exit from Turkey and consolidates operations around its U.S. assets (Marigold and Cripple Creek & Victor). The company positions this as a shift toward free cash flow generation and capital returns, eliminating development capital risk in an emerging market while retaining production upside through the royalty. Closing is expected in Q3 2026 pending Turkish regulatory approval.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
The Transaction, together with the previously announced sale of the Çöpler mine in Türkiye and acquisition of the Cripple Creek & Victor Mine in Colorado, completes SSR Mining’s strategic refocus to an Americas platform. These transactions reinforce the Company’s position as a leading free cash flow, capital returns-focused gold and silver producer, anchored by its long-lived Marigold and Cripple Creek & Victor operations in the United States.
This transaction completes SSR Mining's exit from Turkey, following the previously announced Çöpler mine sale. Combined with the Cripple Creek & Victor acquisition in Colorado, the company is now focused entirely on Americas-based operations, specifically its Marigold and Cripple Creek & Victor mines in the United States. This geographic consolidation aims to position SSR Mining as a free cash flow and capital returns-focused producer.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 2, 2026 · How we verify