McEwen Mining adds equity exposure to Sudbury gold explorer
McEwen Mining (TSX:MUX) exercised 9,200,000 warrants for shares of Inventus Mining (TSXV:IVS), an Ontario-based gold and critical metals explorer, locking in an investment worth C$828,000
Inventus is a junior miner active on two projects in Sudbury, Ontario, one of which houses the first significant paleoplacer gold discovery in North America
Inventus Mining stock has added 50 per cent year-over-year but remains down by 35.71 per cent since 2020
McEwen Mining (TSX:MUX) exercised 9,200,000 warrants for shares of Inventus Mining (TSXV:IVS), an Ontario-based gold and critical metals explorer, locking in an investment worth C$828,000.
According to Inventus Mining's investor presentation for March 2025, McEwen Mining owns about a 6 per cent stake in the company, while its namesake, Rob McEwen, owns a 20 per cent position.
The proceeds, part of an early warrant exercise incentive program, will go towards Inventus' 2025 bulk sampling program at its Pardo gold project 65 km northeast of Sudbury, Ontario, where grade-control drilling is now underway.
Previous bulk samples at Pardo yielded 3.4 grams per ton (g/t) gold in 5,000 tons and 4.2 g/t gold in 1,000 tons, supporting the potential for a low-cost mining operation.
The warrant exercise follows Inventus and McEwen's recently signed memorandum of understanding to consider processing bulk sample material at McEwen's Stock Mill facility. The potential deal would cover up to 45,000 tons of material from Pardo over the next 12 months. Leadership insights
'We are extremely pleased by McEwen Mining's continued support through their participation in the early warrant exercise program. This funding will directly support the execution of our 2025 bulk sampling plans. With grade-control drilling now underway, we are taking steps to better define the thickness and gold grade of our bulk sample sites in preparation for extraction and processing,' Wesley Whymark, Inventus Mining's president and head of exploration, said in a statement. About Inventus Mining
Inventus is a junior miner active on two projects in Sudbury, Ontario. The company's flagship Pardo project houses the first significant paleoplacer gold discovery in North America.
Inventus Mining stock (TSXV:IVS) last traded at C$0.09. The stock has added 50 per cent year-over-year but remains down by 35.71 per cent since 2020.
Join the discussion: Find out what everybody's saying about this Canadian gold and critical metals stock on the Inventus Mining Corp. Bullboard and check out Stockhouse's stock forums and message boards.
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