R/€ = 16.09 Change: 0.15
R/$ = 14.15 Change: 0.19
Au 1244.71 $/oz Change: -3.60
Pt 802.22 $/oz Change: 21.31
 
 
R/€ = 16.09 Change: 0.15
R/$ = 14.15 Change: 0.19
Au 1244.71 $/oz Change: -3.60
Pt 802.22 $/oz Change: 21.31
 
 
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McEwen raises cash for next year’s exploration programme

6th December 2018 BY: Creamer Media Reporter

Precious metals miner McEwen Mining has announced a bought deal private placement offering to raise $15-million to fund its 2019 exploration programme in the Timmins region of Canada.

The company is issuing 2% of its currently outstanding shares at $2.26 a share (C$3.02), representing a premium of 26% over the closing price on the TSX on December 5.

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“We want to build on the exploration success of this year’s effort, where we increased our resources and generated a number of exciting exploration targets. These properties are located along a prolific geological trend in one of the world’s great gold districts,” commented chairperson, CEO and owner Rob McEwen.

McEwen has a total of 337-million shares outstanding. Rob McEwen owns 24% of the shares. Subsequent to the closing of the offering the shares outstanding will increase to 344-million.

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EDITED BY: Mariaan Webb Creamer Media Senior Researcher and Deputy Editor Online
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