The company's shares hit an all-time high on Tuesday.

The gold miner, a unit of Indonesian conglomerate Rajawali Group, made the decision after gauging demand for the Jakarta IPO last month.

Canadian miner declared force majeure on some Chinese contracts last month due to covid-19-led curbs.

Consolidated production by McEwen Mining for the first quarter included 23,300 oz gold and 493,200 oz silver.

Proceeds will be used to advance the company's Kingsway gold project, located next to New Found Gold's Queensway discovery.

The Australian Stock Exchange notched up 42 IPOs in mining-related businesses over the past 12 months despite the Covid-19 pandemic.

Company has been seeking to repatriate $500 million belonging to the venture out of the Congo for more than a year.

Company cancelled an agreement to buy the gold mine, saying it had not received timely information from the seller about the termination of the mining lease.