Shares of McEwen Mining (NYSE: MUX) zoomed today, closing Monday up 15.2%. On July 6, McEwen Mining created a subsidiary called McEwen Mining Copper to create a pure-play copper company to primarily develop its Los Azules copper mine in Argentina, and announced its plan to raise $80 million through a private offering of shares. McEwen Mining eventually intends to launch an IPO for McEwen Mining Copper within 12 months of closing the share sales.