Referenced Stocks

Market Chatter: McEwen Mining Mulls Sale of Los Azules Project; Shares Rise 7%

By Midnight Trader,  November 23, 2012, 12:33:02 PM EDT

Bloomberg is reporting that Rob McEwen, founder of Goldcorp ( GG ) said his McEwen Mining Inc. ( MUX ) may sell the Los Azules copper project and use the proceeds to help finance its plan to become one of the world's biggest gold producers.

Selling Los Azules would free up cash for McEwen Mining's precious-metals exploration projects in Argentina, Mexico and the U.S. as producers find it difficult to raise funds.

MUX shares are up 7.4% to $3.79, amid a 52-week range of $1.96 - $6.17. GG shares are up 0.2% to $41.24.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: GG, MUX



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