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SSR Mining (NASDAQ:SSRM) said Thursday it agreed to sell its San Luis gold and silver project in Peru to Highlander Silver for as much as $42.5M, comprised of $5M in upfront cash and up to $37.5M in contingent payments; SSR will retain a 4% net smelter returns royalty on the project.
Highlander Silver, backed by the Augusta Group and the Lundin family, is a mineral exploration company focused on the discovery of silver-gold-polymetallic projects in the Central Andes.
SSR Mining (SSRM) said it expects the deal will be accretive on a NAV per share basis, based on street consensus estimates.
The company said it is delivering on its goal of portfolio rationalization, realizing more than $300M in aggregate consideration for non-core assets since the start of 2021.