Mcewen Mng Inc Stock Price, News & Analysis

McEwen Mining (NYSE & TSX: MUX) has announced its upcoming Q4 and year-end 2024 financial results conference call, scheduled for Tuesday, March 18th, 2025, at 11:00 AM EDT. The event will feature management's discussion of financial results and project developments, followed by an interactive question-and-answer session where participants can directly engage with questions over the phone.

The company will make a webcast replay available approximately 2 hours after the event concludes, which can be accessed through McEwen Mining's media page at https://www.mcewenmining.com/media.

McEwen Mining (NYSE: MUX) has announced promising drill results from its 27-hole drilling program at the Windfall Project in Nevada, part of the recently acquired Timberline Property. Key intersections include 2.85 g/t Au over 33.5m, 1.57 g/t Au over 48.8m, and 1.47 g/t Au over 38.1m.

The drilling program demonstrated continuous oxide gold mineralization along a 1.6-km-long section of the Windfall fault zone, extending below historical pit bottoms. Of the 27 holes drilled, 15 intersected oxidized gold mineralization above 0.50 g/t Au, and 25 holes showed grades above 0.15 g/t Au over minimum 3.0m thickness.

The property has historical significance, with the Windfall Mine producing 24,000 oz of gold at 12.6 g/t Au in the early 1900s and 112,000 oz at 1.4 g/t Au in the 1980s. The project is located on patented claims, potentially allowing for faster permitting, with additional drilling planned for advancing toward a production decision.

McEwen Mining (NYSE: MUX) has announced significant exploration success at its Grey Fox Deposit within the Fox Complex. The 2024 drilling campaign delivered impressive results, including 17.7 g/t gold over 8.0m from hole 24GF-1520. Early 2025 results are equally promising, with hole 25GF-1525 yielding 12.9 g/t gold over 4.3m and 15.3 g/t gold over 2.7m.

The company recently updated its Grey Fox resource estimate to 1,538,000 ounces of Indicated gold at 3.64 g/t and 458,000 ounces of Inferred gold at 3.30 g/t. The 2025 exploration budget is set at US$9.7 million, including 68,500 meters of diamond drilling.

Key focus areas include the Gibson Zone, where 23 additional epithermal lenses were discovered, and the Whiskey Jack Zone, which boasts the highest Indicated grade of 5.7 g/t gold. The company has completed ground-based geophysical surveys and is currently interpreting the data to guide future drilling targets.

McEwen Mining (NYSE: MUX) (TSX: MUX) has issued a response to the Apitipi Anicinapek Nation's (AAN) allegations regarding breaches of the Impact Benefit Agreement (IBA) at the Fox Complex. The company addresses two main concerns:

1. Environmental Management: McEwen affirms its commitment to environmental protection at the Stock Mill, stating the tailings facility operates under Ontario Ministry approval with regular inspections and strict monitoring requirements.

2. Share Payment Dispute: The company acknowledges an ongoing dispute regarding annual payments of 25,000 Brigus common shares to AAN. McEwen maintains that Brigus and McEwen shares are not interchangeable, and they are not responsible for shares not delivered during Primero's ownership.

Since 2017, McEwen has provided CDN$20 million in direct and indirect benefits to AAN. The company expresses willingness for constructive dialogue and suggests reinstating an AAN representative at Fox to enhance communication and transparency.

McEwen Copper, a subsidiary of McEwen Mining (NYSE: MUX), has applied for admission of the Los Azules copper project to Argentina's Large Investment Incentive Regime (RIGI). The project requires an estimated USD 2.7 billion investment, with USD 227 million committed under RIGI for feasibility study, exploration, and preliminary work. An additional USD 2.5 billion is estimated for mine and production facilities construction.

Upon RIGI approval, Los Azules will receive significant benefits including: reduction in corporate tax rate from 35% to 25%, value added tax relief during construction, export duties exemption, and freedom from mandatory export proceeds repatriation. The project recently received environmental permit approval for construction and operation, and aims to begin construction in early 2026 following the completion of a feasibility study in first half of 2025.

McEwen Mining (NYSE: MUX) has successfully closed a $110 million offering of 5.25% convertible senior notes due 2030, including the full exercise of a $15 million option. The notes feature an initial conversion rate of 88.9284 shares per $1,000 principal amount, equivalent to $11.25 per share, representing a 30% premium to the February 6th, 2025 closing price.

The offering generated approximately $90.8 million in net proceeds after deducting $15.1 million for capped call costs and $4.1 million in expenses. The company will use $20 million to partially repay its senior secured credit facility, with remaining proceeds for general corporate purposes. The capped call structure potentially increases the effective conversion price to $17.30 per share, limiting dilution.

The company plans to increase gold production at the Fox Complex from 30,000 ounces in 2024 to 60,000 ounces in 2027 and 150,000 ounces by 2030.

McEwen Mining (NYSE: MUX) has announced the pricing of $95 million convertible senior notes due 2030 in a private placement to qualified institutional buyers. The company also granted purchasers an option for an additional $15 million in notes.

Key transaction details include:

• Initial conversion price of $11.25 per share (30% premium over $8.65 closing price)
• 5.25% annual interest rate, paid semi-annually
• Capped call transactions potentially increasing effective conversion price to $17.30 per share
• Expected net proceeds of $91.3 million ($105.9 million if additional option exercised)

The company plans to use proceeds to pay for capped call overlay ($13.1 million), repay existing credit agreement borrowings, and general corporate purposes. The notes will mature on August 15, 2030, unless earlier converted, redeemed, or repurchased.

McEwen Mining (NYSE: MUX) (TSX: MUX) has announced plans to offer $85 million in convertible senior notes due 2030 through a private placement to qualified institutional buyers. The company may grant an additional $15 million option to initial purchasers.

The notes will be senior, unsecured obligations with semi-annual interest payments, convertible into cash, company stock, or a combination. The proceeds will fund capped call transactions, repay approximately $20 million of existing credit agreement debt, and support general corporate purposes.

The company plans to enter into capped call transactions with financial institutions to reduce potential stock dilution or offset cash payments exceeding the principal amount of converted notes. These transactions may influence the market price of both MUX common stock and the notes through various derivative trading activities.

McEwen Mining (NYSE: MUX) has announced significant increases in gold resources at the Grey Fox deposit, part of the Fox Complex. The Indicated Resource grew by 32% to 1,538,000 ounces of gold, while the Inferred Resource increased by 95% to 458,000 ounces.

Key highlights include:

• Discovery cost of US $14.46 per ounce
• Lower cut-off grade (from 2.30 g/t Au to 1.60 g/t Au) due to higher gold price assumptions ($2,000 vs $1,725)
• Gibson zone showed notable growth with Indicated resources up 109% to 290,000 oz
• Whiskey-Jack zone contains 116,000 oz at 5.7 g/t Au, being 97% Indicated

The Grey Fox deposit, located 3km South-East of the Black Fox Mine, contains over 150 distinct mineralized lenses across 1.4 square kilometers. The resource growth is attributed to exploration drilling success and updated economic parameters.