Çöpler District (CDMP21TRS Reserve Case) Feasibility Study: $1.73B NPV Over a 21-Year Mine Life
SSR Mining Inc.'s Çöpler District (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 per year.
SSR Mining Inc.'s Çöpler District (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.
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. Average head grade is Heap leach 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 83% of 172 projects we track
- Mine life
- 21yrs
- Spot gold today
- $4,188.80/oz
Across the 172 gold projects we track, this one's after-tax NPV of $1.73B sits above 83% of them. That is a genuinely strong rank, but it is a rank, not a verdict: the top fifth of a large peer set is where most credible development-stage gold assets cluster, so the number tells you this is a serious project rather than a standout one. The 21-year mine life is the more useful signal. Two decades of planned production means the NPV is not leveraged to a short, high-grade window that could be mined out before the capital is repaid, and it gives the operator room to absorb cost inflation or grade disappointment across the cycle.
The constraint is funding, and it is not close. At roughly 0.2x the company's US$7.28B market cap, the NPV is small relative to the equity, which cuts both ways. It can mean the market has not yet credited the asset, or that investors are discounting something: Turkish permitting and sovereign risk, execution on the build, or the fact that this is one of 47 projects in a diversified portfolio where no single asset drives the story. A mid-cap with that many moving parts will not be re-rated on one study.
What supports the numbers is the stage. This is a feasibility study, the build-ready estimate with a typical plus or minus 15% band, so the figures carry more weight than a scoping-level PEA would. The returns also rest on a gold price assumption that needs checking against today's $4,188.80/oz spot: if the study priced below that, there is headroom; if above, the headline is optimistic.
The deciding question is whether a diversified mid-cap can advance a Turkish gold build without diluting shareholders or shelving it behind the other 46 projects.
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.