Çöpler (CDMP21TRS Reserve Case) Feasibility Study: $1.73B NPV Over a 21-Year Mine Life
SSR Mining Inc.'s Çöpler (CDMP21TRS Reserve Case) in Erzincan Province, Turkey has a Feasibility Study outlining an after-tax NPV of $1.73B. The mine plan runs 21 years at about 278 kozpa Au (5-year annual average) per year.
SSR Mining Inc.'s Çöpler (CDMP21TRS Reserve Case) has reported Feasibility Study results for the gold project in Erzincan Province, Turkey. The study headlines an after-tax net present value of $1.73B at a 5% discount rate. It reflects SSR Mining Inc.'s (SSRM) latest disclosed economics for the asset.
Economics. The after-tax NPV is $1.73B using a 5% discount rate. All-in sustaining costs are pegged at 966 USD/oz gold. Economics are based on Long-term metal price assumptions of $1,600/oz gold, $21.00/oz silver, and $3.40/lb copper.
Production and mine plan. The project envisions an open-pit operation. Life of mine is 21 years. Average annual production is approximately 278 kozpa Au (5-year annual average). Average head grade is Oxide 1.69 g/t Au; Sulfide 2.33 g/t Au.
Resources and ownership. The company holds a 80% interest in the project.
These figures are extracted from SSR Mining Inc.'s technical disclosures and reflect the most recent Feasibility Study on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Our Analysis
- NPV after-tax
- $1.73B
higher than 78% of 192 projects we track
- Mine life
- 21yrs
- Study price assumption
- Long-term metal price assumptions of $1,600/oz gold, $21.00/oz silver, and $3.40/lb copper
- Spot gold today
- $4,216.30/oz
This is a feasibility-stage gold project in Erzincan Province, Turkey, and its after-tax NPV of $1.73B ranks above 78% of the 192 gold projects we track. That is a genuinely strong percentile, but it is worth being precise about what it means: this sits comfortably in the upper tier without being an outlier. There is no single figure here that forces a re-rating on its own. The rank tells you this is a solid, well-advanced asset rather than a category-defining one, and the 21-year mine life gives it the duration to matter.
The constraint that matters most is scale relative to the company. At US$7.37B, the market cap is a mid-cap, and the NPV is roughly 0.2x that, below it. This is not a company whose equity value hinges on this one asset: Erzincan is one of 66 projects in a diversified portfolio. That cuts both ways. It means less single-asset concentration risk, but it also means the market is unlikely to re-rate the whole company on this project alone. A development build here is a portfolio line item, not an existential bet.
The feasibility study is the build-ready estimate, typically a plus or minus 15% band, so these numbers carry the most weight of any study stage. The price deck is the soft spot: $1,600/oz gold against a live spot of $4,216.30/oz means the study was run well below today's market, so the headline returns embed real conservatism and leave room for upside if spot holds. The question that decides this project is whether Erzincan can be permitted and built in Turkey on schedule and on budget, because the study's economics are not the risk.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.