McEwen Mining To Acquire Timberline Resources At 132% Premium
Portfolio Pulse from Benzinga Newsdesk
McEwen Mining (MUX) is set to acquire Timberline Resources at a 132% premium, issuing approximately 1.84 million shares for a transaction value of US$18.8 million. Timberline shareholders will receive 0.01 of a McEwen share for each Timberline share, valued at US$0.102 per share based on McEwen's 20-day VWAP as of April 15th, 2024. McEwen already owns 3.3% of Timberline.
April 16, 2024 | 4:36 pm
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McEwen Mining is acquiring Timberline Resources, issuing 1.84 million shares for a total value of $18.8 million, reflecting a strategic expansion.
The acquisition of Timberline Resources by McEwen Mining at a significant premium suggests a positive outlook on Timberline's assets and potential for growth. This strategic move could enhance McEwen's asset base and future revenue potential, likely leading to a positive short-term impact on MUX's stock price.
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