Welcome to our dedicated page for Mcewen Mng news (Ticker: MUX), a resource for investors and traders seeking the latest updates and insights on Mcewen Mng stock.
McEwen Mining Inc. (MUX) is a leading gold and silver producer with active mines and exploration projects across the Americas. This page serves as the definitive source for all official company announcements, operational updates, and strategic developments.
Investors and industry observers will find a centralized repository of earnings reports, production results, and exploration progress updates, along with analysis of partnerships and management initiatives. The curated collection enables efficient tracking of MUX's performance in precious metals markets and mining sector trends.
Content spans critical areas including quarterly financial disclosures, resource estimate revisions, and operational milestones from key assets like the El Gallo and San Jose mines. All materials are sourced from verified corporate communications to ensure reliability.
Bookmark this page for streamlined access to McEwen Mining's latest developments. Combine these updates with broader market context to inform your analysis of this dynamic precious metals producer.
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.
McEwen Mining (NYSE: MUX) has reported significant increases in gold resources at its Grey Fox deposit as of December 31st, 2024. The Indicated Resource increased by 32% to 1,538,000 ounces of gold, while the Inferred Resource grew by 95% to 458,000 ounces.
The resource growth was achieved at a discovery cost of US $14.46 per ounce. The deposit comprises six zones: Contact, 147, 147 NE, Grey Fox South, Gibson, and Whiskey-Jack. Notable increases were seen in the Gibson zone, where Indicated resources grew 181% to 290,000 oz and Inferred resources increased 80% to 245,000 oz.
The resource update reflects a lower cut-off grade (from 2.30 g/t Au to 1.60 g/t Au) due to higher gold prices (US$2,000/oz vs US$1,750/oz previously used). The Grey Fox deposit contains over 150 distinct mineralized lenses across 1.4 square kilometers, with many extending to bedrock surface.
McEwen Mining (NYSE: MUX) reported full-year 2024 consolidated production of 135,900 gold equivalent ounces (GEOs), meeting their guidance range. Individual mine performances included Gold Bar with 44,600 GEOs and San Jose with 60,100 GEOs, both exceeding guidance targets. However, Fox Complex produced 30,150 GEOs, falling below guidance due to a stope failure in early 2024.
For 2025, MUX projects consolidated production between 120,000 and 140,000 GEOs. The lower range reflects the planned transition at Fox Complex from Froome mine to Stock mine in late 2025, with commercial production from Stock expected in early 2026. Gold Bar's production in 2025 will be weighted toward the second half due to scheduled waste stripping in the Pick pit, which should improve future ore availability and increase gold production through 2026.
McEwen Copper, a subsidiary of McEwen Mining (NYSE: MUX), has secured the Environmental Impact Statement (EIS) approval for its Los Azules copper project from San Juan Provincial Government's Ministry of Mines. The EIA documentation, submitted in April 2023, underwent thorough review by 14 public and private institutions. The project aims for carbon neutrality by 2038, operating on renewable energy with minimal water footprint. A definitive feasibility study is expected in the first half of 2025, with potential construction starting in 2026.
McEwen Mining has released new assay results from its Grey Fox deposit in Ontario's Timmins region. Key highlights include high-grade drill results of 10.2 g/t Au over 11.1m at Whiskey Jack. The deposit shows similarities to the Hishikari Gold Mine, with potential for stacked epithermal gold-bearing veins. Current geological modeling indicates over 50 distinct mineralized lenses in a 1.3 square kilometer area, with 90% of the current Grey Fox resource (1.4 million ounces) within 300 meters from surface. An updated Mineral Resource estimate for the Fox Complex will be released in Q1 2025. The company has announced a $9.7 million exploration campaign for 2025, planning 69,500 meters of drilling.
McEwen Mining reported Q3 2024 financial results showing significant improvements. Revenue increased 36% to $52.3M, driven by higher gold prices ($2,499/oz vs $1,920/oz in Q3 2023) and increased production. Gross profit rose 268% to $13.8M, while net loss decreased to $2.1M ($0.04/share) from $18.5M ($0.39/share) in Q3 2023. Operating cash flow improved to $23.2M from -$2.3M year-over-year.
Production highlights: Gold Bar Mine output increased 43% to 13,640 oz Au, Fox Complex decreased 30% to 7,855 oz Au due to stope failure, and San José Mine's attributable production fell 23% to 13,684 GEOs.
McEwen Mining (NYSE: MUX) (TSX: MUX) has announced its upcoming Q3 2024 financial results conference call, scheduled for Wednesday, November 6th, 2024, at 11:00 AM EST. The call will feature management's discussion of financial results and project developments, followed by a Q&A session where participants can ask questions directly. The call will be accessible via toll-free numbers in North America (888-210-3454) and internationally, with a conference ID number of 3232920. A webcast replay will be available approximately 2 hours after the event on the company's media page.
FAQ
What is the current stock price of Mcewen Mng (MUX)?
What is the market cap of Mcewen Mng (MUX)?
