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MUX to Generate Additional Capital From Non-Core Timmins Asset Sale
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Key Takeaways
McEwen will sell its Fuller and Paymaster interests, and a surface-rights parcel for $55M.
MUX will receive $5M in cash and $50M in Discovery shares to fund operations and development.
McEwen targets 250,000-300,000 gold-equivalent ounces by 2030, with minimal to no share dilution.
McEwen Inc. (MUX - Free Report) announced that it and its subsidiaries have inked a definitive asset purchase and sale agreement to sell mining assets to Dome Mine Ltd., a subsidiary of Discovery Mining Ltd., for total consideration of $55 million. This move allows MUX to monetize its non-core assets and generate additional capital.
Details on MUX’s Deal With Dome Mine
Under the deal, McEwen will sell two wholly owned assets in Timmins — the Fuller property, owned by subsidiary Lexam, and a surface-rights-only parcel, owned by subsidiary VG Holdings. The company will also sell Lexam's 60% interest in the Paymaster property, a joint venture of Lexam with Dome.
Following the acquisition, Discovery will hold 100% stake in both Fuller and Paymaster properties. McEwen will focus on operations and development at Froome, Stock and Grey Fox mines as part of its growth strategy to expand production from its existing asset base.
McEwen’s Stock Mine is expected to enter production in the fourth quarter of 2026, with commercial production following in the first quarter of 2027. The company also has surface work and equipment purchases planned at Grey Fox, Tartan and the Gold Bar Complex. These, along with additional capital from asset sales, will help the company remain on track to produce an average of 250,000–300,000 gold-equivalent ounces by 2030 with minimal to no share dilution.
McEwen will receive the purchase price as $5 million in cash and $50 million in Discovery common shares. McEwen plans to invest the capital from this deal across its operations and development projects.
McEwen’s Q2 Performance
McEwen reported first-quarter earnings of 14 cents per share, missing the Zacks Consensus Estimate of 25 cents. The company registered earnings of 6 cents in the year-ago quarter. McEwen posted revenues of $59 million for the quarter ended June 2026, missing the Zacks Consensus Estimate of $77 million. The top line improved from $47 million in the year-ago quarter.
MUX belongs to the Zacks Mining - Miscellaneous industry, along with Wheaton Precious Metals Corp. (WPM - Free Report) , SSR Mining Inc. (SSRM - Free Report) and Teck Resources Ltd. (TECK - Free Report) . Let us see how its peers performed in the second quarter of 2026.
Wheaton Precious Metals reported adjusted earnings of $1.19 per share for second-quarter 2026, beating the Zacks Consensus Estimate of $1.15 by 3.48%. Adjusted earnings per share increased 89.5% year over year. Wheaton Precious Metals’ revenues surged 84.7% year over year to $929 million and surpassed the consensus estimate of $877 million by 5.98%.
SSR Mining posted adjusted earnings of 66 cents per share in the second quarter of 2026, up 3.1% from the year-ago quarter. The figure topped the Zacks Consensus Estimate of 59 cents by 11.9%. SSR Mining’s revenues rose 9.5% to $443.8 million.
Teck Resources reported second-quarter 2026 adjusted earnings per share of $1.39, beating the Zacks Consensus Estimate of 78 cents. It marked a substantial improvement of 415% from the earnings of 27 cents per share in the year-ago quarter. This was attributed to higher base metal prices and increased sales volume of copper and zinc. Teck Resources’ revenues were $2.6 billion, surpassing the Zacks Consensus Estimate of $2.3 billion. The figure reflects a 78% year-over-year improvement, aided by higher copper and zinc prices and sales.
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MUX to Generate Additional Capital From Non-Core Timmins Asset Sale
Key Takeaways
McEwen Inc. (MUX - Free Report) announced that it and its subsidiaries have inked a definitive asset purchase and sale agreement to sell mining assets to Dome Mine Ltd., a subsidiary of Discovery Mining Ltd., for total consideration of $55 million. This move allows MUX to monetize its non-core assets and generate additional capital.
Details on MUX’s Deal With Dome Mine
Under the deal, McEwen will sell two wholly owned assets in Timmins — the Fuller property, owned by subsidiary Lexam, and a surface-rights-only parcel, owned by subsidiary VG Holdings. The company will also sell Lexam's 60% interest in the Paymaster property, a joint venture of Lexam with Dome.
Following the acquisition, Discovery will hold 100% stake in both Fuller and Paymaster properties. McEwen will focus on operations and development at Froome, Stock and Grey Fox mines as part of its growth strategy to expand production from its existing asset base.
McEwen’s Stock Mine is expected to enter production in the fourth quarter of 2026, with commercial production following in the first quarter of 2027. The company also has surface work and equipment purchases planned at Grey Fox, Tartan and the Gold Bar Complex. These, along with additional capital from asset sales, will help the company remain on track to produce an average of 250,000–300,000 gold-equivalent ounces by 2030 with minimal to no share dilution.
McEwen will receive the purchase price as $5 million in cash and $50 million in Discovery common shares. McEwen plans to invest the capital from this deal across its operations and development projects.
McEwen’s Q2 Performance
McEwen reported first-quarter earnings of 14 cents per share, missing the Zacks Consensus Estimate of 25 cents. The company registered earnings of 6 cents in the year-ago quarter. McEwen posted revenues of $59 million for the quarter ended June 2026, missing the Zacks Consensus Estimate of $77 million. The top line improved from $47 million in the year-ago quarter.
MUX belongs to the Zacks Mining - Miscellaneous industry, along with Wheaton Precious Metals Corp. (WPM - Free Report) , SSR Mining Inc. (SSRM - Free Report) and Teck Resources Ltd. (TECK - Free Report) . Let us see how its peers performed in the second quarter of 2026.
Wheaton Precious Metals reported adjusted earnings of $1.19 per share for second-quarter 2026, beating the Zacks Consensus Estimate of $1.15 by 3.48%. Adjusted earnings per share increased 89.5% year over year. Wheaton Precious Metals’ revenues surged 84.7% year over year to $929 million and surpassed the consensus estimate of $877 million by 5.98%.
SSR Mining posted adjusted earnings of 66 cents per share in the second quarter of 2026, up 3.1% from the year-ago quarter. The figure topped the Zacks Consensus Estimate of 59 cents by 11.9%. SSR Mining’s revenues rose 9.5% to $443.8 million.
Teck Resources reported second-quarter 2026 adjusted earnings per share of $1.39, beating the Zacks Consensus Estimate of 78 cents. It marked a substantial improvement of 415% from the earnings of 27 cents per share in the year-ago quarter. This was attributed to higher base metal prices and increased sales volume of copper and zinc. Teck Resources’ revenues were $2.6 billion, surpassing the Zacks Consensus Estimate of $2.3 billion. The figure reflects a 78% year-over-year improvement, aided by higher copper and zinc prices and sales.