McEwen Mining (NYSE: MUX) (TSX: MUX) has acquired approximately 5.4% of Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) through a strategic non-brokered private placement. The transaction involved McEwen purchasing 5,181,347 units of Goliath at C$1.93 per unit in exchange for 868,056 McEwen shares valued at C$11.52 each. McEwen Chairman Rob McEwen, who now personally holds 3.9% of Goliath on a partially diluted basis, praised the company’s high-grade Surebet gold discovery, where 92% of drill holes in 2024 contained visible gold. The investment includes a standstill agreement preventing McEwen from exceeding 9.9% ownership for two years without Goliath’s approval.
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About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, chair and chief owner, has a personal investment in the company of $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX
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