Market News / Story
McEwen to sell Ontario properties to Discovery Mining in $55M cash-and-stock deal
Seeking Alpha ·
Seeking Alpha reports: McEwen gained 4.5% in Friday's trading after saying it agreed to sell its Fuller and Paymaster properties in Timmins, Ontario, to Discovery Mining subsidiary Dome Mine for $5M in cash and $50M in Discovery common shares. The sale includes Lexam VG Gold's wholly-owned Fuller property, its 60% interest in the Paymaster property held in joint venture with Dome, and a surface rights parcel owned by VG Holdings; both properties are part of McEwen's Fox complex land…