McEwen Inc. (NYSE: MUX) (TSX: MUX) has entered a definitive agreement to sell its Fuller property, a 60% interest in the Paymaster property, and a surface rights parcel in Timmins, Ontario, to Dome Mine Ltd., a subsidiary of Discovery Mining Ltd., for $55 million. The deal, announced by McEwen (NYSE: MUX) (TSX: MUX), comprises $5 million in cash and $50 million in Discovery common shares, subject to customary closing conditions and regulatory approval. This transaction is significant because it allows McEwen to monetize non-core assets while sharpening its focus on the development of its Fox Complex, which includes the Froome, Stock, and Grey Fox deposits.
The proceeds are intended to support McEwen’s ambitious goal of producing 250,000 to 300,000 gold equivalent ounces annually by 2030 with minimal to no share dilution. Combined with $13.5 million recently received from a McEwen Copper term loan, the sale is expected to provide approximately $68.5 million in additional capital for growth and development. This injection of funds strengthens McEwen’s ability to advance its key projects without resorting to equity financing that could dilute existing shareholders. The company is progressing on several fronts, including the Stock Mine, targeted for initial production in the fourth quarter of 2026, and the El Gallo project in Mexico, where construction began in September 2026 and production is targeted for the second half of 2027.
McEwen’s strategy is underpinned by a diversified portfolio of gold, silver, and copper assets across the Americas. The company holds a 46.3% interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million (US$7.67 per share). The Los Azules project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038, with feasibility study results announced in a press release dated October 7, 2025. This sale aligns with McEwen’s broader vision of building shareholder value through strategic asset management and operational excellence.
The transaction also highlights McEwen’s commitment to disciplined capital allocation. By divesting non-core properties, the company can concentrate resources on higher-return projects. Chairman and Chief Owner Rob McEwen has personally invested over US$250 million and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build MUX’s profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc. For investors seeking exposure to a growing gold and silver production base and a large copper development project, McEwen offers a compelling opportunity. The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.
This announcement was disseminated on behalf of McEwen Inc. and may include paid advertising. The full press release can be viewed at https://ibn.fm/2hync. MissionIR, a specialized communications platform, is part of the Dynamic Brand Portfolio at IBN, which provides access to a vast network of wire solutions via InvestorWire and editorial syndication to 5,000+ outlets, among other services.
