Major Investor Backs Rare Gold Discovery With US$10M Investment
McEwen Mining Inc. (MUX:TSX; MUX:NYSE ) has completed a strategic non-brokered private placement in Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF; FSE), acquiring 5,181,347 units of the company at a deemed price of US$1.93 per unit. The transaction, valued at approximately US$10 million, was executed through an issuance of 868,056 McEwen common shares at a deemed price of US$11.52 per share.
Following the completion of the investment, McEwen Mining now holds approximately 5.4% of Goliath on a partially diluted basis, with its chairman and chief owner, Rob McEwen, maintaining a personal stake of about 3.9%. McEwen, who first invested in Goliath in 2023, praised the company’s Surebet gold discovery, emphasizing its strong drilling results in 2024, where 92% of drill holes contained visible gold. “Grassroots high-grade gold discoveries are exceedingly rare worldwide. Drill baby, drill, keep these great results coming,” McEwen stated…
