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FAQ: McEwen Inc.'s Strategic Investment in Paragon Geochemical and PhotonAssay™ Technology
TL;DR
McEwen's acquisition of a 31% stake in Paragon provides strategic advantage in advanced mining analytics, enhancing exploration efficiency and competitive positioning in precious metals markets.
McEwen acquires 31% of Paragon through share purchases totaling CDN$15.3 million at $17.50 per share, payable in McEwen stock, securing access to PhotonAssay technology.
This investment supports advanced mining technologies that improve accuracy and reduce environmental impact, contributing to more sustainable resource extraction practices for future generations.
PhotonAssay technology offers rapid, non-destructive metal analysis, revolutionizing traditional fire assays with faster, more accurate results for precious and base metals detection.
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McEwen Inc. has agreed to acquire approximately 31% equity interest in Paragon Geochemical Laboratories Inc., a leading provider of advanced analytical services for the mining sector that specializes in PhotonAssay™ technology.
The acquisition allows McEwen to advance the adoption of PhotonAssay™ technology, which it already uses in its exploration programs, providing rapid, accurate, and non-destructive assaying of precious and base metals with significant advantages over traditional methods.
The transaction, valued at CDN$15.3 million, will be completed through the purchase of 648,002 Paragon shares from Britannia Life Sciences Inc. and 226,286 shares via a private placement, both at CDN$17.50 per share and payable in McEwen stock.
PhotonAssay™ is a rapid, accurate, and non-destructive technology for assaying precious and base metals that offers significant advantages over traditional fire assays, providing more efficient analytical services for mining operations.
McEwen employs PhotonAssay™ in its exploration programs at the Fox Complex in Ontario and the Gold Bar Mine Complex in Nevada.
McEwen operates three mines in the USA, Canada, and Argentina, has a gold and silver mine on care and maintenance in Mexico, and is developing the Los Azules copper project in Argentina, which aims to become one of the world's first regenerative copper mines committed to carbon neutrality by 2038.
McEwen's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol 'MUX'.
The latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX.
MiningNewsWire is a specialized communications platform focusing on developments in the Global Mining and Resources sectors, part of the Dynamic Brand Portfolio at IBN, which disseminates this type of corporate news and provides various distribution services.
Curated from InvestorBrandNetwork (IBN)
