08:16:35 EDT Wed 15 May 2024
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or Name
USA
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McEwen Mining Inc (2)
Symbol MUX
Shares Issued 49,439,696
Close 2024-02-01 C$ 9.33
Market Cap C$ 461,272,364
Recent Sedar Documents

FP/wire say Goldcorp founder raising dollars for McEwen

2024-02-01 09:36 ET - In the News

The Financial Post reports in its Thursday, Feb. 1, edition that Rob McEwen is in talks to raise about $100-million (U.S.) for a copper project in Argentina, at a time when miners are betting that deregulation by the new government of Javier Milei will boost prospects for the industry. A Bloomberg dispatch to the Post reports that Mr. McEwen says his closely-held firm, McEwen Copper, is speaking with existing holders, as well as prospective new investors. The idea is to secure fresh dollars within six months for feasibility and engineering work. Longer-term options include expanded partnering with a major mining company such as Rio Tinto. Mr. McEwen says: "We're socializing the concept. Just getting in front of a lot of people who finance large projects, not only for our immediate needs but for the longer term." Mr. McEwen, who founded Goldcorp, is hoping President Milei's efforts to free up Argentina's tightly controlled economy will help unlock vast copper deposits in San Juan province. That is where McEwen wants to build the $2.5-billion (U.S.) Los Azules mine that would start toward the end of the decade, when demand for the wiring metal is expected to accelerate in the shift away from fossil fuels.

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