---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-066010"
form_type: "8-K"
ticker: "MUX"
cik: "0000314203"
company_name: "McEwen Inc."
filed_at: "2023-05-30T23:59:59+00:00"
generated_at: "2026-06-14T12:10:48.245376+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# McEwen Mining reduces total debt 39% to $40M, extends maturity to Aug 2026

## Summary
- Repaid $25M to Sprott, reducing total debt from $65M (incl. $15M unsecured note) to $40M.
- New $40M credit agreement with Evanachan (owned by CEO Rob McEwen) at 9.75% interest, matures Aug 31, 2026.
- Monthly principal payments of $1M begin Jan 31, 2025; annual borrowing costs fall ~$2.2M (36%).
- Covenants eased: financial tests eliminated, dividend ban removed, non-core assets released from collateral.
- Repayment funded by $47.5M gross proceeds from McEwen Copper share sales to Stellantis and Nuton.

## SEC filing metadata
- accession: 0001104659-23-066010
- form_type: 8-K
- ticker: MUX
- cik: 0000314203
- company_name: McEwen Inc.
- filed_at: 2023-05-30T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314203/000110465923066010/0001104659-23-066010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314203/000110465923066010/tm2317202d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-066010
- JSON: https://secwatch.observer/filing/0001104659-23-066010.json
- Plain text: https://secwatch.observer/filing/0001104659-23-066010.txt

## Key facts
- Material Agreements
  McEwen Inc. entered into Third Amended and Restated Credit Agreement with Evanachan Limited valued at $40 million (effective 2023-05-23).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Evanachan Limited
  - Value: $40 million
  - Effective: 2023-05-23
  source text: On May 23, 2023, McEwen Mining Inc. (the “Company”) entered into a Third Amended and Restated Credit Agreement (“Credit Agreement”) with Evanachan Limited (“Evanachan”) as administrative agent and lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000110465923066010/0001104659-23-066010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.