McEwen Inc. (NYSE: MUX) (TSX: MUX) announced 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 transaction, disclosed in a press release dated October 7, 2025, includes $5 million in cash and $50 million in Discovery common shares, subject to customary closing conditions and regulatory approval.
The sale allows McEwen to monetize non-core assets while focusing 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. Combined with $13.5 million recently received from a McEwen Copper term loan, the transaction 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. The company shares trade on both the NYSE and TSX under the ticker MUX, providing shareholders with exposure to a growing base of gold and silver production plus a large copper development project in the Americas. For more details, visit https://ibn.fm/2hync.
The strategic move underscores McEwen’s commitment to strengthening its core operations and delivering value to shareholders. By divesting non-core assets, the company can allocate resources to higher-potential projects, such as the Fox Complex and the El Gallo Mine. The transaction also aligns with McEwen’s long-term vision of becoming a mid-tier gold producer, as outlined by Chairman and Chief Owner Rob McEwen, who has invested over US$250 million personally and takes a salary of $1 per year.
McEwen’s portfolio includes a 46.3% interest in McEwen Copper, which owns the Los Azules copper project in Argentina, designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. The implied value of McEwen’s ownership interest is US$456 million (US$7.67 per share). Additionally, McEwen recently purchased 27.3% of Paragon Advanced Labs Inc., a company deploying PhotonAssay units globally, which could become the industry standard for assaying precious and base metals.
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