Welcome to our dedicated page for McEwen news (Ticker: MUX), a resource for investors and traders seeking the latest updates and insights on McEwen stock.
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.
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.
McEwen Copper, 68% owned by McEwen Mining (NYSE: MUX), announced significant copper drill intercepts at its Los Azules project, indicating strong growth potential. Key highlights include:
- 237.2 m of 1.05% Cu, with 108 m at 1.71% Cu in hole AZ22173.
- 373.9 m of 0.76% Cu, including 96 m of 1.13% Cu in hole AZ22176.
The ongoing drill program aims to enhance resource classification and explore deeper extensions of the deposit. With 11,900 m already drilled, the project supports Argentina’s role in critical metals production for global electrification.
McEwen Mining Inc. reported an increase in production and a decrease in costs per ounce for October and November 2022. They forecast production of approximately 135,700 gold equivalent ounces (GEOs) for the full year 2022, with guidance for 2023 set between 150,000 to 170,000 GEOs. Cash costs are expected to decrease to $1,200 per ounce, alongside a reduction in all-in sustaining costs to $1,500 per ounce. Key operations include Gold Bar, Fox Complex, and San José Mine, with improvements projected due to better mining strategies and exploration efforts.
McEwen Mining (NYSE: MUX) announced promising exploration results from its Stock property, indicating potential for resource expansion. Recent drill results from area 1 showed high-grade gold with 264.5 g/t Au over 2.4 m uncapped and 12.6 g/t Au capped. The discovery of multiple intercepts in shallow and deeper areas near existing mine workings suggests the possibility of further mineralization. The Stock property, historically a gold producer, currently holds 265,000 ounces of indicated and 119,000 ounces of inferred gold resources, all within 500 meters of surface.
McEwen Mining Inc. (NYSE: MUX) announced significant findings from its Grey Fox exploration program, revealing four new gold veins in sedimentary rocks. These veins show promising gold grades, including near-surface intersections of 13.1 g/t Au over 7.3 m and deeper intercepts of 29.1 g/t Au over 1.8 m. This discovery indicates a potential for significant resource additions to Grey Fox, which currently houses 1.2 million ounces of indicated gold resources. The geological characteristics and historical data suggest the site's strong viability for future mining operations.
McEwen Mining reported its Q3 2022 results, highlighting a significant reduction in cash costs at the Fox Complex, now at $774 per GEO, the lowest since 2018. Despite a decrease in total production to 35,700 GEOs compared to 42,900 in Q3 2021, the company aims to enhance throughput and reduce costs further. The acquisition of a process plant is expected to lower capital costs for the Fenix project. However, the company reported a net loss of $10.5 million, largely due to investments in the Los Azules project. Production guidance for 2023 is set at 150,000 to 170,000 GEOs.
McEwen Mining Inc. (NYSE: MUX) will announce its Q3 2022 operating and financial results on November 4, 2022. A conference call is scheduled for November 7, 2022, at 11:00 am EST, where management will discuss these results along with project developments. Participants can engage in a Q&A session during the call. The webcast will be available for later viewing on the company's website.
McEwen Mining focuses on gold, silver, and copper production and exploration in the Americas, with operations in Nevada, Canada, and Argentina.