Welcome to our dedicated page for Mcewen Mng news (Ticker: MUX), a resource for investors and traders seeking the latest updates and insights on Mcewen Mng stock.
McEwen Mining Inc. (MUX) is a leading gold and silver producer with active mines and exploration projects across the Americas. This page serves as the definitive source for all official company announcements, operational updates, and strategic developments.
Investors and industry observers will find a centralized repository of earnings reports, production results, and exploration progress updates, along with analysis of partnerships and management initiatives. The curated collection enables efficient tracking of MUX's performance in precious metals markets and mining sector trends.
Content spans critical areas including quarterly financial disclosures, resource estimate revisions, and operational milestones from key assets like the El Gallo and San Jose mines. All materials are sourced from verified corporate communications to ensure reliability.
Bookmark this page for streamlined access to McEwen Mining's latest developments. Combine these updates with broader market context to inform your analysis of this dynamic precious metals producer.
McEwen Mining Inc. (NYSE: MUX) announced that starting July 28, 2022, its common shares will trade on the NYSE and TSX post a 1-for-10 reverse split approved by shareholders on July 7, 2022. This split reduces outstanding shares from approximately 474 million to 47 million, aiming to regain compliance with NYSE listing requirements. No fractional shares will be issued; instead, cash will be provided for those entitled to fractional shares. The reverse split will not affect the par value or voting rights of shares.
McEwen Mining Inc. (NYSE: MUX) has announced a 1-for-10 reverse stock split effective July 26, 2022. This decision was approved by shareholders during the annual meeting on July 7, 2022. The reverse split will reduce the outstanding shares from approximately 474 million to 47 million. Additionally, shareholders authorized a reduction in the total shares available for issuance from 675 million to 200 million. Mr. Ian Ball was elected to the Board of Directors, enhancing the company's leadership in the mining sector.
McEwen Copper Inc. has announced the latest drilling results from its Los Azules copper project in Argentina. The recent drilling program has shown promising copper mineralization with highlights including 330.0 m of 0.83% Cu in hole AZ22146 and 298.0 m of 0.55% Cu in hole AZ22149. This 59,000-meter drilling effort aims to upgrade Inferred resources to Indicated and assess high-value exploration targets. The construction of new lower-altitude road access has also improved year-round accessibility to the site, enhancing operational efficiency.
McEwen Copper Inc., a subsidiary of McEwen Mining (MUX), has closed the second tranche of its private placement offering, raising $15 million. This offering, which includes a $10 million investment from the Victor Smorgon Group and $5 million from other investors, brings total gross proceeds to $55 million. The funds will support the updated preliminary economic assessment and upcoming drilling season, as well as a planned IPO in the first half of 2023. The offering remains open until July 6, 2022.
McEwen Mining Inc. (NYSE: MUX) reported its Q1 2022 results, producing 25,100 gold equivalent ounces (GEOs), down from 30,600 GEOs in Q1 2021. Average cash costs were $1,696 per GEO, below guidance. The company incurred a net loss of $19.3 million for the quarter. Fox Complex saw improved production while Gold Bar faced operational challenges due to labor turnover and equipment issues. The company is focusing on exploration and the Los Azules project while managing costs and addressing operational efficiencies.
McEwen Mining (NYSE: MUX) announces senior management changes as Anna Ladd-Kruger retires as CFO for health and family reasons, with Perry Y. Ing appointed as interim CFO. Peter Mah, COO, also resigns, effective June 3, with William Shaver stepping in as interim COO. The company is focused on stabilizing operations, divesting certain assets, and advancing the Los Azules copper project. The board is actively searching for new candidates for both executive roles.
McEwen Mining Inc. (NYSE: MUX) invites stakeholders to a conference call on May 13, 2022, at 12:00 pm EDT, discussing its Q1 2022 financial results and project developments. Participants can ask questions during the call, which will also be archived for later access on the company's website. McEwen Mining operates mines in the Americas and holds the Los Azules copper deposit through its McEwen Copper subsidiary.
McEwen Copper Inc., a subsidiary of McEwen Mining (MUX), reports significant advancements in the Los Azules copper project in Argentina. With improved road access and ongoing drilling confirming substantial copper mineralization, the project aims to capitalize on growing copper demand, projected to outstrip supply by 5-8 million tons by 2030. The upcoming updated Preliminary Economic Assessment (PEA) could reveal enhanced project economics, with copper prices currently above $4/lb, compared to the $3/lb assumption in 2017. Community engagement initiatives are also underway.
McEwen Mining (MUX) updated its exploration efforts for 2022 at the Fox Complex in Canada and Gold Bar properties in Nevada, aiming to expand mineral resources. At the Fox Complex, significant targets include the Stock West and Stock East deposits, currently hosting 239,000 ounces of gold indicated. The Gold Bar exploration focuses on the Pick and Atlas pits, revealing potential for new mineralization. Key drill results indicate promising grades, with Stock West achieving up to 27.20 g/t gold. Both properties indicate a strong potential for future production enhancements and resource expansions.
McEwen Mining (NYSE: MUX) announced significant financial maneuvers to manage challenges posed by reduced cash flow in Q1 2022. The company amended its $50 million senior secured term loan to gain flexibility, removing certain security interests and extending the maturity to March 31, 2025. Additionally, it entered a $15 million unsecured promissory note to enhance working capital. Production targets were met at Gold Bar, but challenges at the Fox Complex and San José, coupled with COVID-19 impacts and equipment failures, hindered overall financial performance.
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