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  1. Discovery Mining Ltd. is exploring advanced stage growth projects, including the Owl Creek, Dome, and TVZ projects.

McEwen Subsidiaries Sell Assets to Discovery Mining Subsidiary for $55 Million

1 report, 1 independent Updated Fri 00:00
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What happened

Some supportReported by 1 outlet

McEwen Inc. and its subsidiaries, Lexam VG Gold Inc. and VG Holdings Inc., entered into an agreement to sell assets to Dome Mine Ltd. The assets include the Fuller property, Lexam’s 60% interest in the Paymaster property, and a surface rights parcel in Timmins, Ontario. The total purchase price for the transaction is US$55 million.

From thewhig.com

Why it matters

Some supportBrind's analysis of the reports

The sale allows McEwen Inc. to monetize non-core assets and receive US$55 million in additional capital. McEwen Inc. plans to invest this capital across its operations and development projects to support its goal of producing 250,000–300,000 gold equivalent ounces annually by 2030.

Discovery Mining Ltd. is exploring advanced stage growth projects, including the Owl Creek, Dome, and TVZ projects.

From thewhig.com

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