Source: McEwen Mining
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  • McEwen Copper has closed the final tranche of a private placement offering for gross proceeds totalling $81.85 million
  • The company issued a total of 8,185,000 common shares for US$10.00 per share
  • The third tranche of the offering included a $25 million investment by Rio Tinto’s copper leaching technology venture, Nuton
  • McEwen Copper will use proceeds from the private placement to advance the Los Azules Copper Project
  • McEwen Mining Inc. (MUX) is up 5.12 per cent, trading at $4.11 per share at 2:45 pm ET

McEwen Copper (MUX) has closed the third and final tranche of its private placement offering for gross proceeds totalling $81.85 million.

Under the previously announced private placement, the company issued a total of 8,185,000 common shares for US$10.00 per share.

The third tranche of the offering included a $25 million investment by Rio Tinto’s copper leaching technology venture, Nuton and $1.85 million from other investors. 

McEwen Copper will use proceeds from the private placement to advance the Los Azules Copper Project.

The Los Azules Project is an advanced large-scale porphyry copper exploration project located in the Andean Cordillera copper belt in Argentina.

McEwen Mining Inc. (MUX) is up 5.12 per cent, trading at $4.11 per share at 2:45 pm ET.


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