Argentina - Mexico - Nevada
A high growth, low cost mid-tier silver and gold producer in the Americas
McEwen Mining Inc., Toronto, On, TSX, NYSE : MUX.
A high growth, low cost mid-tier silver and gold producer in the Americas. Rob McEwen, Chairman & CEO, owns 25% of the outstanding shares.
2012 Exploration Budjet - $36,000,000
The Company's driving ambition is to qualify for the inclusion in the S&P 500 by 2015.
Shares of McEwen Mining will commence trading on the NYSE and the TSX, subject to final exchange approvals, under the symbol "MUX" on Friday January 27, 2012.
Holders of Minera Andes shares will receive 0.45 of an exchangeable share of McEwen Mining – Minera Andes Acquisition Corp. for each one (1) Minera Andes share held. These exchangeable shares of McEwen Mining - Minera Andes Acquisition Corp., will also start trading on the TSX on January 27, 2012 under the symbol "MAQ".
The exchangeable shares of McEwen Mining – Minera Andes Acquisition Corp. are convertible on a one-for-one basis at any time into shares of McEwen Mining.
McEwen Mining will have an aggregate of 267,084,203 shares of common stock outstanding and issuable upon the exchange of exchangeable shares.
The objective of McEwen Mining is to qualify for inclusion in the S&P 500 by 2015 by creating a high growth, low cost, mid-tier silver producer focused in the Americas. McEwen Mining's principal assets consist of the following:
Production: a 49% interest in Minera Santa Cruz SA, owner of the San José Silver-Gold Mine that is located near Goldcorp's Cerro Negro project in Argentina.
Development: The El Gallo Complex in Sinaloa, Mexico (first phase of production expected Q2 2012) and the Gold Bar Project in Nevada; as well as the Los Azules Copper Deposit in San Juan, Argentina.
Exploration: The Company has a large portfolio of exploration properties in Santa Cruz province Argentina, surrounding the San José Mine and Goldcorp's Cerro Negro project in addition to significant land packages in Nevada adjoining Barrick's Cortez mine and surrounding our El Gallo Complex in Mexico.