Morning Briefing: SSR Mining Acquires Roxmore Resources

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall. 

It's Tuesday, October 13th.

Gold is firming up this morning at $4,185 an ounce, up about a third of a percent after finding support near the $4,100 level earlier this week. Silver is essentially flat at $60.34 an ounce. Copper is also edging higher at $6.71 a pound.

One of the more significant central bank stories of the year landed yesterday. Kazakhstan, which ranked as the fourth-largest gold buyer in the world through the first eight months of 2026, is reversing course and beginning to sell. The National Bank holds 386 tonnes of gold representing roughly 78% of its total foreign exchange reserves, a concentration the deputy governor described as uncomfortably high. The goal is to lower that share to 75% by year-end through a combination of physical gold sales and options. The driver is the same one weighing on gold across the board: 10-year Treasury yields at a 24-year high are making the dollar increasingly attractive as a reserve asset. Turkey and Russia trimmed their gold positions earlier this year for similar reasons. Poland, China, and Uzbekistan continue to add, and the overall central bank trend remains net positive for the metal.

We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor:

Today's episode of Mining Stock Daily is brought to you by…Vizsla Silver.

Vizsla Silver is advancing the 100%-owned Panuco silver-gold project in Sinaloa, Mexico. Mine development is underway: EPCM and mine design contracts are awarded, equipment supply agreements are in place, and the project is backed by US$300M in convertible nots and at US$220 million project finance mandate with Macquarie Bank. Vizsla Silver trades on the Toronto Stock Exchange and on the NYSE both under the symbol VZLA.

Here's what you need to know today.

SSR Mining has announced a definitive agreement to acquire Roxmore Resources and its Converse Gold Project in Nevada, situated six kilometers west of SSR Mining's Marigold Complex on the Battle Mountain-Eureka Trend. Roxmore shareholders will receive C$6.75 per share in cash, a 27% premium to the October 9th close and a 47% premium to the 20-day VWAP, for an enterprise value of approximately $392 million, plus shares in a newly created exploration spinout. The Converse resource totals 2.2 million ounces Indicated and 3.0 million ounces Inferred. SSR Mining envisions 150,000 to 170,000 ounces of annual production over a 10-plus-year mine life starting in 2033, with initial capital of $800 to $900 million and more than $200 million in life-of-mine synergies from shared operations with Marigold. The deal is expected to close in the fourth quarter of 2026. Roxmore trades on the Toronto Stock Exchange as RM. SSR Mining trades on the Nasdaq Stock Market and on the Toronto Stock Exchange, both under the symbol SSRM. NEWS RELEASE

Equinox Gold has reported third-quarter gold production of 237,019 ounces, its first quarter incorporating the Orla Mining combination closed July 31. The headline mine-level result was Musselwhite in Ontario, which delivered 45,616 ounces at 6.15 grams per tonne in just two months of contribution. Greenstone added 60,596 ounces and Valentine continued improving on grade at 1.82 grams per tonne. Year-to-date production of 611,483 ounces keeps the company on track for its 870,000 to 920,000-ounce guidance. Equinox ended the quarter with $527 million in cash, has repaid approximately $1.2 billion in debt year to date, and commenced early works construction at South Railroad in Nevada, with first gold targeted for 2028. Equinox Gold trades on the Toronto Stock Exchange and on the NYSE American, both under the symbol EQX. NEWS RELEASE

Integra Resources has issued an update on the DeLamar Gold-Silver Project in Owyhee County, Idaho, confirming that detailed engineering, permitting, procurement, and state of good repairs work are all advancing in line with plan. The more significant piece of news is the appointment of GenCap as the project's financing advisor, a clear signal that Integra is moving into the financing and pre-construction phase of development at DeLamar. For a project of this size in one of the United States' most mining-friendly jurisdictions, bringing a dedicated financing advisor on board is a meaningful step toward a construction decision. Integra Resources trades on the TSX Venture Exchange as ITR. NEWS RELEASE

Collective Mining has reported a new shallow high-grade discovery in the Northern Apollo zone of its Apollo system in Colombia. The standout interval is 5.50 metres grading 1,283 grams per tonne silver, 0.83% tungsten trioxide, 0.57% copper, and 0.17 grams per tonne gold from 89.15 metres depth. This is the third distinct style of mineralization to emerge from the broader Apollo system in recent months, after the main high-grade gold-silver breccia body and the tungsten-gold mineralization identified in schist at depth in September. The addition of shallow, high-grade silver-tungsten in a separate northern extension of the system materially broadens the footprint and the commodity exposure of what Apollo could represent. Collective Mining trades on the Toronto Stock Exchange as CNL.NEWS RELEASE

District Metals has completed its first drill hole at Target A on the Viken Property in Jamtland County, Sweden. Hole VIK-26-001 intersected 154.8 metres of graphitic Alum Shale from just 43.7 metres depth, validating the MobileMT geophysical survey as an effective targeting tool for identifying thick, shallow Alum Shale beyond the known Viken Deposit. Geochemical assays are pending, as visual logging and radioactivity alone are not sufficient to establish grade and continuity. The company is continuing to drill across Target Areas A and B. District Metals trades on the TSX Venture Exchange as DMX and on the OTCQX as DMXCF. NEWS RELEASE

Heliostar Metals has submitted its Environmental Impact Statement and Environmental Risk Study for the Ana Paula underground gold project in Guerrero, Mexico, advancing toward a mid-2027 construction decision. The underground design reduces proposed surface disturbance by approximately 65% compared to the previously approved open-pit plan, through the elimination of the open pit footprint, dry-stack tailings, and the use of tailings as paste backfill underground. The project is expected to create approximately 1,500 construction jobs and 600 permanent positions, primarily from local communities. Heliostar Metals trades on the Toronto Stock Exchange as HSTR and on the OTCQX as HSTXF. NEWS RELEASE

Mining Americas has reported third-quarter gold production of 7,915 ounces from the Pan mine in White Pine County, Nevada, bringing year-to-date production to 24,786 ounces. The operation maintained an average mining rate of approximately 59,000 tonnes per day during the quarter, consistent with the second quarter and about 31% higher than the same period in 2025. Full-year production guidance of 32,000 to 38,000 ounces remains unchanged. Mining Americas trades on the Toronto Stock Exchange as MAI and on the OTCQX as MAIFF. NEWS RELEASE

The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and at Clear Commodity Network.

That's it for today everyone. Have a great day. Stay safe.