McEwen Inc. has agreed to sell its Fuller and Paymaster mining properties in Timmins, Ontario, to Discovery Mining Ltd. for $55 million, receiving $5 million in cash and $50 million in Discovery shares. This deal will provide McEwen with additional capital to invest in its operations and development projects, supporting its goal to produce 250,000–300,000 gold equivalent ounces annually by 2030 with minimal share dilution. The transaction also consolidates Discovery's ownership of the Paymaster joint venture. Alongside this, McEwen enhanced liquidity by converting $13.5 million of McEwen Copper debt to cash, totaling about $68.5 million in new capital for growth and development.
McEwen's sale of Fuller and Paymaster mining properties is notable. For readers following Basic Materials, here is Pluang's market snapshot as of Oct 09, 2026 19:12 WIB: 48 of 62 US stocks rose, 10 fell. Southern Copper Corp (SCCO) rose 2.78% to USD 204.18 with 70% buy orders. Endeavour Silver Corp (EXK) rose 2.68% to USD 8.80 with 100% buy orders. Hecla Mining Company (HL) rose 2.60% to USD 17.16 with 100% buy orders.
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