DivestmentMay 5, 2026, 04:09 PM
SSR Mining to Divest Çöpler Mine for $1.5B; Q1 Net Loss $106.45M
AI Summary
SSR Mining announced a definitive agreement to divest its 80% ownership interest in the Çöpler Gold Mine in Türkiye for approximately $1.5 billion, classifying it as held for sale and discontinued operations. This strategic move significantly impacted Q1 2026 results, leading to a net loss attributable to shareholders of $(106.45) million, primarily due to a fair value adjustment for discontinued operations. However, continuing operations showed strong performance with net income rising to $250.18 million and revenue increasing to $581.78 million.
Key Highlights
- SSR Mining to divest 80% ownership in Çöpler Gold Mine for approximately $1.5 billion.
- Q1 2026 net loss attributable to shareholders was $(106.45) million, compared to $58.78 million net income in Q1 2025.
- Net income from continuing operations increased to $250.18 million in Q1 2026 from $89.17 million in Q1 2025.
- Revenue from continuing operations rose to $581.78 million in Q1 2026 from $316.62 million in Q1 2025.
- Discontinued operations resulted in a $(365.33) million net loss, including a $338.23 million fair value adjustment.
- Completed $87.5 million contingent payment for the Cripple Creek & Victor Gold Mine acquisition in Q1 2026.
- Net cash provided by operating activities was $264.49 million in Q1 2026, up from $82.34 million in Q1 2025.
- Cash and cash equivalents increased to $634.09 million as of March 31, 2026.