McEwen Mining Shares Slide 7%; Company Settles Litigation with TNR Gold

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McEwen Mining Inc. ( MUX ) shares have slipped 6.6% to $4.14 after the company announced that it has resolved all outstanding litigation with respect to the Los Azules Copper project located in San Juan Province, Argentina with TNR Gold Corp.

In the settlement, it was found that MUX owns 100% of the Escorpio IV Claim in the Los Azules project. It was also concluded that TNR will retain their back-inrRight for up to 25% of the equity in certain claims comprising the northern portions of Los Azules. These northern claims currently represent approximately 62% of the known resource at Los Azules. Finally, TNR is to receive 1,000,000 shares of MUX.

MUX trades within a 52-week range of $1.96 - $6.17.

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This article appears in: Investing , Commodities

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