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. (NYSE/TSX: MUX) generates a steady flow of news related to gold, silver and copper projects across the Americas. This page aggregates company announcements, operational updates and technical disclosures so readers can follow how McEwen advances its mines and development assets.
Recent news highlights include exploration and development activity at the Gold Bar Mine Complex in Nevada, where drilling at areas such as Lookout Mountain, Windfall and Unity Ridge is aimed at increasing oxide gold resources, extending mine life and potentially increasing annual production. In Ontario’s Timmins district, McEwen reports drill results from the Froome Mine and the Froome West discovery within the Fox Complex, as well as extensive drilling and technical work at Grey Fox and nearby properties.
Updates also cover the company’s efforts to reactivate the El Gallo gold and silver mine in Mexico, including the extension of its Environmental Impact Assessment to support Phase 1 mill construction and later access to in-situ silver deposits. In Canada, McEwen has completed the acquisition of Canadian Gold Corp., adding the Tartan Mine Project near Flin Flon, Manitoba, and has reported high-grade drill intercepts that will feed into an updated mineral resource estimate.
In Argentina, news releases describe progress at the Los Azules copper project, including feasibility study results and participation in Argentina’s Large Investment Incentive Regime. McEwen also issues news on strategic investments such as its planned 31% interest in Paragon Geochemical Laboratories and its stake in Paragon Advanced Labs Inc., both linked to PhotonAssay™ technology. Investors can use this news feed to monitor drilling results, technical studies, acquisitions, permitting milestones, financing transactions and corporate developments affecting MUX.
McEwen Mining reported Q2 results, achieving production of 36,100 GEOs at cash costs of $1,169 and AISC of $1,549 from 100%-owned mines. The Fox Complex produced 11,200 GEOs at cash costs of $985 and AISC of $1,290, while the Gold Bar Mine produced 5,100 GEOs with AISC rising to $2,108. The company incurred a net loss of $12.4 million primarily due to investments in the Los Azules copper project. Cash and equivalents stand at $47.8 million. A 1-for-10 reverse share split occurred on July 28, 2022.
McEwen Mining Inc. (NYSE: MUX) invites participants to its conference call on August 11, 2022, at 11:00 am EDT to discuss Q2 2022 financial results and project developments. The call will feature a question-and-answer session, allowing direct participant interaction. The webcast will be available for archiving on the company's website afterwards. McEwen Mining operates in the Americas, focusing on gold and silver production while also having significant exposure to copper through its McEwen Copper subsidiary.
McEwen Copper, a subsidiary of McEwen Mining (NYSE: MUX), released promising assay results from its Los Azules project, featuring several long intercepts of copper-rich mineralization. Highlights include 222.0 m grading 0.95% Cu and 44.0 m of 1.38% Cu (hole AZ22158). The ongoing drill program aims to upgrade inferred resources and advance metallurgical studies, supporting a significant update to the 2017 Preliminary Economic Assessment expected in Q1 2023. Los Azules is ranked among the top undeveloped porphyry copper deposits globally, with further exploration planned to assess deeper mineralization potential.
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.