- 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.