McEwen pouring $12.5 million into Timmins gold exploration
Flow through share money earmarked to expand gold base at Stock and Grey Fox properties
Dec 31, 2020 3:00 PM By: Northern Ontario Business Staff
(McEwen Mining photo)
McEwen Mining has raised $12.5 million to spend on exploration of some burgeoning gold property, east of Timmins.
The Toronto mid-tier miner announced Dec. 31 that it had closed a flow through share offering, launched at mid-month, for ongoing activity at its Timmins area gold projects.
“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, said Rob McEwen, chairman and chief owner in a statement.