McEwen Inc. (NYSE: MUX) (TSX: MUX) has entered into a definitive agreement to sell its Fuller property, its 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 transaction, announced by McEwen (NYSE: MUX) (TSX: MUX), includes $5 million in cash and $50 million in Discovery common shares, subject to customary closing conditions and regulatory approval.
The sale will monetize non-core assets while allowing McEwen to focus development at its Fox Complex on Froome, Stock, and Grey Fox. Proceeds are intended to support the company’s goal of producing 250,000 to 300,000 gold equivalent ounces annually by 2030 with minimal to no share dilution. The transaction, combined with $13.5 million recently received in connection with a McEwen Copper term loan, is expected to provide approximately $68.5 million in additional capital for growth and development.
McEwen is advancing several projects, including the Stock Mine, targeted for initial production in the fourth quarter of 2026, and El Gallo in Mexico, where construction began in September 2026 and production is targeted for the second half of 2027. These developments are part of McEwen’s strategy to build a growing base of gold and silver production in the Americas. The company also holds a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development 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 copper project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038, with its Feasibility Study results announced in a press release dated October 7, 2025.
For investors, this asset sale reduces exposure to non-core properties and strengthens McEwen’s balance sheet without diluting existing shareholders. The additional capital supports the company’s ambitious production targets and project pipeline, potentially enhancing long-term shareholder value. McEwen shares trade on both the NYSE and TSX under the ticker MUX, providing exposure to gold, silver, and copper development in the Americas. The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.
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