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MissionIRNewsBreaks — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Announces Payment of Senior Secured Debt, 39% Debt Reduction

McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, has taken a significant step in reducing its debt. The company has repaid $25 million of its senior secured debt; the payment was made to Sprott Resource Lending, resulting in Sprott no longer being a lender to the comp in senior secured debt along with a $15 million unsecured promissory note for a total debt of $65 million. Following the repayment to Sprott, the company noted that its senior secured debt had been amended and restated to total $40 million, with a monthly interest at 9.75% per annum; in addition, the promissory note was extinguished. Currently, the company’s sole lender is an entity owned by Rob McEwen, MUX chairman and chief owner Rob McEwen. The transaction has resulted in annual borrowing costs for the company decreasing by approximately 36%, to an estimated $2.2 million. The company noted that the reduction of debt was funded through the secondary sale of McEwen Copper shares to FCA Argentina S.A. and Nuton LLC; those sales raised $47 million in gross proceeds.

To view the full press release, visit

About McEwen Mining Inc.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 52% of McEwen Copper, which owns the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. Rob McEwen, chair and chief owner, has personal investment in the company of $220 million; his annual salary is $1. To learn more about the company, visit

NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at  

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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