{"id":7456,"date":"2024-06-04T17:39:32","date_gmt":"2024-06-04T17:39:32","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=7456"},"modified":"2024-06-04T17:39:38","modified_gmt":"2024-06-04T17:39:38","slug":"mcewen-mining-acquires-remaining-timberline-stock","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2024\/06\/04\/mcewen-mining-acquires-remaining-timberline-stock\/","title":{"rendered":"McEwen Mining acquires remaining Timberline stock"},"content":{"rendered":"

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Canadian miner McEwen Mining has entered into a definitive agreement and plan of merger to acquire all outstanding shares of Nevada-based Timberline Resources that it doesn\u2019t already own.<\/p>\n\n\n\n

McEwen Mining currently owns 6.25 million Timberline shares, or around 3.3% of the company, along with 6.25 million warrants. Excluding McEwen\u2019s existing ownership, the miner expects to issue approximately 1.84 million shares on closing for a transaction value of $18.8 million.<\/p>\n\n\n\n

The Timberline acquisition will extend McEwen\u2019s existing portfolio of development and exploration projects in Nevada, which includes the Gold Bar mine in Eureka County.<\/p>\n\n\n\n

\n

\u201cThe merger with McEwen Mining, at an attractive premium to Timberline\u2019s current trading price, provides our shareholders with continued exposure to Timberline\u2019s assets as part of a more diverse growth-oriented platform,\u201d explained Timberline President and CEO Patrick Highsmith.<\/p>\n<\/blockquote>\n\n\n\n

\u201cThe combination should also unlock synergies between the Gold Bar mine and our Eureka project.\u201d<\/p>\n\n\n\n

The deal is anticipated to close in the third quarter of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian miner McEwen Mining has entered into a definitive agreement and plan of merger to acquire all outstanding shares of Nevada-based Timberline Resources that it doesn\u2019t already own. McEwen Mining currently owns 6.25 million Timberline shares, or around 3.3% of the company, along with 6.25 million warrants. Excluding McEwen\u2019s existing ownership, the miner expects to issue approximately 1.84 million shares…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[2927,2928],"coauthors":[1644],"class_list":["post-7456","post","type-post","status-publish","format-standard","hentry","category-the-headlines","tag-mcewen-mining","tag-timberline-resources"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t