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McEwen Inc. reports on precious-metals production and mineral development across gold, silver and copper assets in the Americas. Recurring company updates cover operating and financial results, mine and project development, drilling results, mineral resource estimates and NI 43-101 technical reports.
The company’s news commonly addresses the Gold Bar Mine Complex in Nevada, the Tartan Mine Project in Manitoba, gold and silver operations in Canada, the United States, Mexico and Argentina, and the Los Azules copper development project held through McEwen Copper. Coverage also includes shareholder voting matters, capital-structure disclosures, material agreements and exploration or joint-venture activity tied to its mineral portfolio.
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McEwen Copper Inc., a 52%-owned subsidiary of McEwen Mining (NYSE: MUX), announced significant drilling results from the Los Azules Project in Argentina. Highlights include:
- 0.50% Cu over 502 m, including 0.87% Cu over 172 m (AZ22181).
- 1.00% Cu over 282 m, including 1.40% Cu over 172 m (AZ22186).
- 0.66% Cu over 500 m, including 0.92% Cu over 276 m (AZ22184A).
The ongoing drilling program aims to upgrade resource classifications and provide data for a feasibility study by late 2024. McEwen Copper is utilizing 13 drills with local supplier engagement to enhance operational efficiency.
McEwen Mining (NYSE: MUX) reported its Q4 and full year results for 2022, marking a transition year with a 22% increase in gold production at the Fox Complex. The company incurred a consolidated net loss of $81.1 million, primarily due to investment in advanced projects. McEwen Copper secured investments from Stellantis and Nuton, raising its valuation to approximately $550 million. For 2023, production guidance is set at 150,000 to 170,000 GEOs. The Fox Complex's production efficiency improved, while Gold Bar faced a production decrease of 39% due to ore challenges. The company plans aggressive exploration to enhance production and reduce costs.
McEwen Mining Inc. (NYSE: MUX) has scheduled a conference call to discuss its Q4 and year-end 2022 financial results on March 14, 2023, at 11:00 AM EST. Participants can ask questions during the live event, which will cover financial outcomes and project developments. An archived replay will be accessible shortly after the event. McEwen Mining is a producer of gold and silver with operations in Nevada, Canada, Mexico, and Argentina, and holds about 52% of McEwen Copper. The company aims to enhance its asset productivity to boost share value, backed by significant personal investments from its Chairman.
McEwen Copper, 52%-owned by McEwen Mining (NYSE: MUX), announced promising copper exploration results from its Los Azules Project in Argentina. Drill hole AZ22174 showed a significant 1,052 meters of 0.29% Cu, including 480 meters averaging 0.42% Cu. Additional results from hole AZ23191 highlighted 236 meters of 1.39% Cu and 0.19 g/t Au, with 42 meters at 2.78% Cu. Over 25,000 meters of drilling is planned for 2023, aimed at upgrading resource classifications for a 2024 Feasibility Study. The positive assay results bolster the project's potential, demonstrating continuity in mineralization and de-risking geological models.
On February 27, 2023, McEwen Copper Inc., part of McEwen Mining (MUX), announced a binding agreement for a US$30 million investment from Nuton LLC, a venture of Rio Tinto. This investment includes a private placement of 350,000 shares and a secondary sale of 1,250,000 shares, with proceeds allocated to the Los Azules copper project in Argentina. Following the transaction, Nuton will own 14.2% of McEwen Copper, valuing the company at US$550 million. The agreement enhances collaboration on new technologies for sustainable copper production, contributing to the electrification of transport.
McEwen Copper Inc., a subsidiary of McEwen Mining (NYSE: MUX), has completed a significant ARS $30 billion investment from Stellantis, one of the world's major automakers, aimed at advancing the Los Azules copper project in Argentina. The investment includes a private placement of 2,850,000 common shares and a secondary sale of 1,250,000 common shares. Post-investment, Stellantis holds 14.2% of McEwen Copper, which is valued at approximately US$550 million. This partnership supports both companies' vision for sustainable mining practices, focusing on net-zero carbon emissions by 2038.