The metal has shed 14% since rocketing to a record above $11,000 a ton in May.

Beijing on Wednesday lowered the minimum down payment ratio for first home buyers to no less than 20%.

Rising global exchange stocks of copper have damped bullish spirits.

Part of the proceeds will go toward the company's credit bid for PDV Holdings, the indirect parent company of Venezuela-owned oil refiner Citgo Petroleum.

McEwen is currently working on a bankable feasibility study for Los Azules, due by the end of the first quarter of 2025.

The company, which operates across the Americas, Asia and Australia, cut staff and paused expansion projects in January.

The company is moving toward open pit production at the British Columbia mine in the first half of 2027.

Melbourne-based L1 Capital’s flagship Long Short Fund is the best performing Australia-based strategy for the last 10 years.