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 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.
McEwen Mining Inc. (NYSE: MUX) announces production and cost guidance for 2022, projecting a production of 153,000 to 172,000 gold equivalent ounces (GEOs). Cash costs are estimated between $1,310 and $1,410 per GEO, while all-in sustaining costs (AISC) are between $1,570 and $1,690. The San José mine in Argentina anticipates production of 69,500 to 77,500 GEOs with an AISC of $1,330 to $1,370.
This guidance suggests stable operations, although production costs will be closely monitored.
McEwen Mining (NYSE: MUX) has successfully closed a private placement offering of 14,500,000 flow-through common shares at US$1.04 each, raising total gross proceeds of US$15,080,000 (Cdn$19,212,500). The funds will be allocated exclusively for Canadian Exploration Expenditures on properties in the Timmins region. Cantor Fitzgerald Canada Corporation acted as the sole bookrunner, with PearTree Canada structuring the flow-through donation placement. The shares are not being offered in the U.S. due to regulatory requirements.
McEwen Mining reported its Q4 and full-year results for 2021, highlighting a 154,410 gold equivalent ounces (GEOs) production, a 34% increase from 2020. Cash costs per GEO sold dropped to $1,453, an 18% reduction year-over-year. The company faced a consolidated net loss of $56.7 million, reflecting high investments in exploration and general expenses. Operational efficiency improved significantly at the Gold Bar Mine, with production increasing 66% in Q4. For 2022, production guidance is set between 153,000 to 172,000 GEOs.
McEwen Copper Inc., a subsidiary of McEwen Mining (NYSE: MUX), has appointed Michael Meding as Vice President of Andes Corporacion Minera SA in Argentina. He will oversee the Los Azules copper project, directing its technical studies, upcoming IPO, and development into a model for environmentally responsible mining. Meding brings over 20 years of international experience in mining, including significant roles at Barrick Gold and Trafigura, and is trilingual with two MBAs.
McEwen Mining Inc. (NYSE: MUX) announced a private placement financing of US$15,080,000 (Cdn$19,212,500) for exploration activities at the Fox Complex in Ontario. The offering involves 14,500,000 flow-through common shares priced at US$1.04 (Cdn$1.325) per share. The expected closing date is March 1, 2022, pending regulatory approvals. Proceeds will be strictly allocated to qualifying Canadian Exploration Expenditures. The shares will not be available for sale in the United States without proper registrations.
McEwen Mining (NYSE: MUX) announced the results of its Fox Complex Preliminary Economic Assessment (PEA), showing a projected mine life exceeding 12 years with an average annual gold production of 71,980 ounces. The average cash costs are estimated under $800 per ounce, while all-in sustaining costs are projected at $1,225. The peak production period is expected between years 6-10, reaching around 100,000 ounces annually. Despite promising results, the company emphasizes the need for continued exploration and economic improvements before proceeding with the project.