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. (MUX) provided a 2021 update highlighting significant operational progress across its projects. The Fox Complex, with 3 million ounces of gold resources, aims to boost production from 30-40,000 oz to 100-150,000 oz annually. The Black Fox Mine's Froome deposit is ahead of schedule for commercial production by Q4 2021. Financing closing of $12.7 million will support development activities. Additionally, the San José mine resumed operations, while preliminary assessments at the Gold Bar Mine noted a 16% reserve reduction.
McEwen Mining (NYSE: MUX) reported a strong production rebound in Q3 2020, with a total of 23,100 gold ounces and 575,000 silver ounces, equating to 30,400 gold equivalent ounces (GEOs). This growth followed the restart of operations after COVID-19 related shutdowns. Key developments include progress at the Black Fox mine, producing 5,800 GEOs, and advancements on the Froome development, aiming for commercial production by Q4 2021. The company also initiated a Preliminary Economic Assessment for further growth in the Fox Complex, projecting significant future production increases.
McEwen Mining (NYSE: MUX) announced the appointment of Anna Ladd-Kruger as Chief Financial Officer effective immediately. Anna brings over 20 years of mining industry experience, having previously served as CFO at Excellon Resources and Trevali Mining. Her leadership was pivotal in financial transformations and successful acquisitions. She has raised over $1 billion in debt and equity and holds a CPA designation along with advanced degrees. Rob McEwen, Chairman, expressed confidence in her ability to lead the finance team amidst industry challenges.
McEwen Mining has successfully closed a private placement offering, raising US$10.4 million through the sale of 6,298,166 flow-through shares at US$1.65 each. The funds will be dedicated exclusively to exploration activities in the Timmins region. The offering was led by Cantor Fitzgerald Canada Corporation and involved multiple underwriters. Importantly, the shares will not be available for public sale in the U.S. due to regulatory constraints.
This press release contains forward-looking statements, reflecting uncertainties that may affect actual future results.
McEwen Mining (NYSE: MUX) has announced a strategic financing of US$9.91 million (Cdn$13.08 million) through a bought deal private placement of 6 million flow-through common shares priced at US$1.65 (Cdn$2.18) per share. This price reflects a 21% premium over the previous closing price. The funds will be allocated exclusively for exploration activities in the Timmins region of Ontario. The offering is expected to close by September 10, 2020, pending customary closing conditions.