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McEwen Completes the Acquisition of Canadian Gold Corp. Under a Statutory Plan of Arrangement

McEwen Inc. (NYSE:MUX) is one of the 9 Best Junior Gold Mining Stocks to Buy Now.

On January 6, McEwen Inc. (NYSE:MUX) completed its acquisition of Canadian Gold Corp. (CGC) under a statutory plan of arrangement, as previously announced. Under the agreed terms, each Canadian Gold share will convert into 0.0225 MUX common shares, consolidating CGC holders into MUX books. Whereas, Canadian Gold will be delisted from the TSX Venture on January 7, 2026.

Following the closing of the arrangement agreement on January 5, 2026, the arrangement grants McEwen control of the Tartan mine asset in Manitoba. The new management intends to expand and accelerate exploration and commence mining plans once it has full control over the asset. McEwen plans to report on the updated resource estimate for Tartan in February 2026 to redefine development goals. Rob McEwen, Chairman and Chief Owner, said:

We see strong exploration and development potential of Tartan, which we believe will significantly contribute to shareholder value. Our immediate priorities are to accelerate and expand the scope of exploration, initiate mine plan engineering, and advance production permitting to enable us to timely restart the mine. We also expect to publish an updated resource estimate by the end of February.

In other news, on December 16, McEwen Inc. (NYSE:MUX) reported that it received the extension of its Environmental Impact Assessment for the El Gallo Mine from the Mexican government. This approval now allows McEwen to initiate the Phase 1 Mill Construction. The company plans to begin the construction in mid-2026 and expects the first gold pour by mid-2027. McEwen has also acquired the ball mill located on site. Phase 1 is projected to produce around 20,000 Gold Equivalent Ounces annually following the start of commercial production.

McEwen Inc. (NYSE:MUX) is a development-stage gold and silver mining company focused on the exploration, development, and production of gold and silver deposits.

While we acknowledge the potential of MUX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MUX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best New Penny Stocks to Invest In and 13 Best Gold Mining Companies to Invest In Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

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