McEwen shares up on Black Fox update
Black Fox gold mine, Timmins Ontario. Image: Primero Mining
McEwen Mining (NYSE: MUX) (TSX: MUX) has reported progress with the turnaround at its Black Fox mine, in Timmins, Canada.
Consultants are working on a preliminary economic assessment to expand production from the current short mine life producing 30 000 oz/y to 40 000 oz/y, to a ten-year mine life producing 100 000 oz/y to 150 000 oz/y.
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The Fox Complex has a combined resource base of 3 million oz of gold.
Shares of McEwen Mining rose 19% by 2 p.m. in New York
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
McEwen Mining: Progress Update
McEwen MiningJanuary 29, 2021 GMT
TORONTO, Jan. 29, 2021 (GLOBE NEWSWIRE) McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to provide an update on its progress so far this year along with a timeline for deliverables in 2021 and recent financing activities.
Timmins, Canada
The Fox Complex has a combined resource base of 3 million oz(1) of gold and we have ambitious plans for these assets. Independent technical consultants have been employed to develop a Preliminary Economic Assessment (PEA) to expand the production from the current short mine life producing 30-40,000 oz gold per year to a ten-year mine life with annual production of 100-150,000 oz gold per year. Early results are encouraging.
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TORONTO, Jan. 08, 2021 (GLOBE NEWSWIRE)
McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce a financing to fund development of the Froome deposit, which is expected to reach commercial production in Q4 2021, located at the Fox Complex in the Timmins region of Ontario.
The financing consists of a US$11,821,000 (Cdn$15,000,000) private placement offering (the Offering ) of 11,628,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$1.02 (Cdn$1.29) per flow-through common share (the Offering Price ) led by Cantor Fitzgerald Canada Corporation as agent and sole bookrunner. The Offering is expected to close on or before January 28, 2021 (the Closing ) and is subject to customary closing conditions, including approval from the TSX and NYSE.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
McEwen Mining Announces Flow-Through Financing
McEwen MiningJanuary 8, 2021 GMT
TORONTO, Jan. 08, 2021 (GLOBE NEWSWIRE) McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce a financing to fund development of the Froome deposit, which is expected to reach commercial production in Q4 2021, located at the Fox Complex in the Timmins region of Ontario.
The financing consists of a US$11,821,000 (Cdn$15,000,000) private placement offering (the “Offering”) of 11,628,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$1.02 (Cdn$1.29) per flow-through common share (the “Offering Price”) led by Cantor Fitzgerald Canada Corporation as agent and sole bookrunner. The Offering is expected to close on or before January 28, 2021 (the “Closing”) and is subject to customary closing conditions, including approv
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TORONTO, Dec. 31, 2020 (GLOBE NEWSWIRE)
McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce that it has closed its previously announced non-brokered private placement, issuing 7,669,900 common shares of the Corporation on a flow-through basis (the
FT Shares ) at a price per share of CDN $1.63 per FT Share for total gross proceeds of CDN$12,500,000.
Rob McEwen commented: These funds will be used for exploration to facilitate the rapid expansion of our discoveries at Stock and Grey Fox, which are key elements in our plans for growing the Fox Complex annual gold production to 100,000-150,000 oz over a 10-year mine life.