McEwen’s $55M Ontario asset sale fuels gold growth plans

AI desk brief

McEwen has agreed to sell two non-core Ontario gold assets to Discovery Mining for $55 million in cash and stock, with proceeds earmarked for growth projects across its portfolio. The company is targeting 250,000-300,000 gold-equivalent ounces annually by 2030 while trying to limit shareholder dilution.

Near-term catalysts include Stock Mine starting production in Q4 2026 and commercial production in Q1 2027, alongside continued work at Grey Fox, Tartan and Nevada’s Gold Bar Complex. In Mexico, construction at El Gallo began in September, with production targeted for 2H 2027.