Chief executive James Bouchard said he had $10 billion available and Esmark itself had no debt.

While McEwen is funded into next year as it drills the Los Azules project, it may go public later in 2023 or early 2024 to bankroll a feasibility study.

The Chinese central bank cut policy rates on Tuesday, the second reduction in three months.

The metal rose after the People’s Bank of China cut the rate on one-year loans by 15 basis points — the most since 2020.

The LME benchmark three-month aluminum contract dropped to its lowest since July 7.

The swing to a premium is being driven by tighter supply in China, the World Gold Council said in a report last week.

The Australian company rejected the buyout bid received on August 12.

NFG has signed an MOU for the right to conduct due diligence and exclusivity to negotiate a toll milling agreement at the existing Pine Cove mill.