Mcewen Mng Inc Stock Price, News & Analysis

McEwen Mining Inc. (NYSE: MUX, TSX: MUX) announced that CFO Anna Ladd-Kruger is temporarily on leave for health reasons. She is expected to return soon, and during her absence, Segun Odunuga, Vice President and Corporate Controller, will serve as the acting principal financial officer. The company emphasizes this transition will not disrupt financial operations. McEwen Mining is focused on gold and silver production in the Americas and has significant copper exposure through its subsidiary McEwen Copper.

McEwen Mining (NYSE: MUX) has fallen below the NYSE's continued listing requirement, as its stock price averaged below $1.00 per share over the last 30 trading days. On January 5, 2022, the company received notification of this status. McEwen Mining has six months to correct the situation, during which time its stock will still trade on the NYSE, pending compliance with other requirements. If it fails to meet the price threshold by the end of the remedy period, the stock may face suspension and delisting. However, its listing on the Toronto Stock Exchange remains unaffected.

McEwen Copper Inc., a subsidiary of McEwen Mining (NYSE: MUX), is advancing its Los Azules copper project in San Juan, Argentina. Key objectives include moving from a Preliminary Economic Assessment (PEA) to a Pre-Feasibility Study (PFS) and constructing the Northern Access Road for year-round access. The $80 million private offering is underway, with McEwen Mining retaining a 69% stake. The project aims to enhance copper mining's sustainability while employing advanced technologies. Exploration drilling is set to start on January 4, 2022, with plans for 174,000 feet of drilling to upgrade mineral resources.

On December 20, 2021, McEwen Mining (NYSE: MUX) reported promising drilling results at the Fox Complex, with significant widths and grades of gold. Key highlights include:

• Hole S21-202 revealed 21 meters of 4.29 g/t gold, extending the Stock mineralized zones.
• Visible gold was noted in Stock Main, with hole SM21-024 returning 9.1 m of 7.43 g/t gold.
• 317 underground drill holes completed at Froome Mine, showing good ore quality and extended deposit confidence.

The upcoming Preliminary Economic Assessment (PEA) for the Fox Complex is anticipated.

Certarus Ltd. has signed a long-term agreement with McEwen Mining (NYSE: MUX) to supply compressed natural gas (CNG) for heating at the Fox Complex in Matheson, Ontario. This shift from propane to CNG will enhance operational efficiency while lowering emissions and costs. Certarus' mobile CNG technology allows for flexibility in summer months. The agreement showcases a commitment to improving the environmental performance of mining operations and demonstrates McEwen Mining's focus on innovative energy solutions.

McEwen Mining reported Q3 2021 results, marking a significant operational recovery with production meeting expectations. Total production reached 42,900 GEOs, on track for the year guidance of 141,000 to 160,400 GEOs. Cash and liquid assets stood at $72.7 million, while net loss was $17.4 million, up from $9.8 million in Q3 2020. The Froome deposit achieved commercial production ahead of schedule, enhancing cost efficiency in mining. Investments included $6.2 million in exploration and $4 million in advanced projects, reflecting a strong commitment to future growth.

McEwen Mining Inc. (NYSE: MUX) has scheduled a conference call for November 4, 2021, at 2:00 PM EDT to discuss its Q3 2021 financial results and project developments.

Participants can engage in a Q&A session during the call. The webcast will be available for replay on the company's website post-event. McEwen Mining is recognized as a diversified producer and explorer of gold and silver, primarily operating in the Americas, including Nevada, Canada, Mexico, and Argentina.

McEwen Mining Inc. (NYSE: MUX) reported consolidated production of 32,100 gold ounces and 792,000 silver ounces in Q3 2021, totaling 42,900 gold equivalent ounces (GEOs), up from 30,400 GEOs in Q3 2020. Year-to-date production reached 114,300 GEOs, significantly higher than 85,700 GEOs in the same period of 2020. The Fox Complex and Gold Bar Mine showed strong results, with Gold Bar producing 12,400 GEOs, doubling its output. Production is on track to meet the full-year guidance.

McEwen Mining has announced the appointment of William Shaver to its Board of Directors, effective immediately. Shaver has over 50 years of mining industry experience and previously co-founded Dynatec Corporation. He replaces Gregory Fauquier, who has resigned after seven years. Additionally, the Los Azules project is progressing, following a US$40 million private placement. A 53,000-meter drilling program is planned to upgrade mineral resources. Preparations for access roads and hiring experienced professionals for the project are underway.