Core Viewpoint - SSR Mining has signed a binding memorandum of understanding to divest its 80% ownership interest in the Çöpler mine for $1.5 billion in cash, with Cengiz Holding as the purchaser [1][7]. Group 1: Transaction Details - The transaction does not include SSR Mining's stake in the Hod Maden development project [2]. - A full cash payment is expected upon closing, anticipated in the third quarter of 2026 [2]. - The Çöpler mine includes all mining licenses, rights, assets, liabilities, and interests related to SSR Mining's activities in eastern Anatolia [2]. Group 2: Regulatory and Financial Aspects - Regulatory approval from Türkiye's General Directorate of Mining and Petroleum Affairs is required for the transaction's completion [3]. - Cengiz Holding must make a $100 million deposit, which will be credited towards the purchase price upon closing or may be refunded under specific conditions [3]. - Both parties are subject to a $50 million reciprocal break fee [3]. Group 3: Due Diligence and Advisory - Cengiz Holding is required to complete limited due diligence concerning mineral reserves at Çöpler but does not need to obtain further operational permits or financing [4]. - Legal advisory services for SSR Mining are provided by Allen Overy Shearman Sterling, while CIBC World Markets has delivered a fairness opinion to SSR Mining's Board of Directors [4]. Group 4: Company Statements - SSR Mining's executive chairman stated that the company has worked diligently to progress the Çöpler mine for a safe and responsible restart of operations [5]. - The company has collaborated with Türkiye Government authorities to secure necessary approvals and conducted a strategic review to maximize shareholder value [6]. - The transaction is expected to deliver significant net asset value and cash flow accretion relative to consensus estimates for Çöpler, providing immediate value to shareholders [7].