M&A Deal Summary

McEwen Mining Acquires Timberline

On April 16, 2024, McEwen Mining acquired metals/mining company Timberline from Waterton Global Resource Management for 19M USD

Acquisition Highlights
  • This is McEwen Mining’s 2nd transaction in the Metals/Mining sector.
  • This is McEwen Mining’s largest (disclosed) transaction.
  • This is McEwen Mining’s 1st transaction in the United States.
  • This is McEwen Mining’s 1st transaction in Idaho.

M&A Deal Summary
Date 2024-04-16
Target Timberline
Sector Metals/Mining
Buyer(s) McEwen Mining
Sellers(s) Waterton Global Resource Management
Deal Type Add-on Acquisition
Deal Value 19M USD

Target

Timberline

Coeur d'Alene,, Idaho, United States
website
Timberline is a gold exploration and development company with its flagship gold-silver property in the Eureka District. The Eureka property includes the historical Lookout Mountain and Windfall mines in a total property position of approximately 27 square miles (70 square kilometers). Timberline was founded in 1968 and is based in Coeur d'Alene, Idaho.

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Buyer(S) 1

Buyer

McEwen Mining

Toronto, Ontario, Canada

website

Category Company
Founded 1979
Sector Metals/Mining
Employees520
Revenue 110M USD (2022)
DESCRIPTION

McEwen Mining is a gold and silver producer in the Americas. McEwen Mining was founded in 1979 and is based in Toronto, Canada.

DEAL STATS #
Overall 2 of 2
Sector (Metals/Mining) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Idaho) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-13 Lexam VG Gold

Toronto, Ontario, Canada

Lexam VG Gold, Inc. is a gold exploration company with mineral properties in advanced exploration stage, located in the heart of Timmins Gold Camp, northern Ontario, Canada, one of the most prolific gold producing regions of the world, with over 70 million ounces delivered to date. Core projects are four properties with developed gold deposits: Buffalo Ankerite, Davidson Tisdale, Fuller, each with 100% Lexam VG Gold ownership interest, and Paymaster, with ownership interest 60% Lexam VG Gold - 40% Goldcorp.

Buy -

Seller(S) 1

SELLER

Waterton Global Resource Management

Investor

website

Category Private Equity Firm
Founded 2009
PE ASSETS 1.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Waterton Global Resource Management is a Canadian private investment group focused on the metals and mining sector. Waterton looks to invest $10 to $250 million in production-focused, precious and base metal assets. Waterton was formed in 2009 and is based in Toronto.

DEAL STATS #
Overall 2 of 2
Sector (Metals/Mining) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Idaho) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Osgood Mining

Carson City, Nevada, United States

Osgood Mining Co. is the owner of the Getchell Project in the Getchell gold belt near Winnemucca, Nevada (“Getchell” or the “Getchell Project”). Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend immediately south of Nevada Gold Mines’ Turquoise Ridge operation. Open pit mining occurred on the property between 1980 and 1999 and underground test mining (the Pinson Mine) was conducted in the early 2010s. The Project currently hosts both a high grade open-pit and underground deposits (see table 1 below) and the Pinson Mine has been in care and maintenance since 2015.

Sell $50M
Mergr

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