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) reports progress at the Fox Complex, specifically on the new mine at the Stock Property. Production is set to begin in H2 2025, with pre-construction activities already started for the Stock portal. Exploration increased estimated gold resources in the East Zone by 29%. The Fox Complex has Measured and Indicated gold resources of 1,905,000 ounces at 4.20 g/t Au and Inferred resources of 549,000 ounces at 3.60 g/t Au. The Stock Property, part of the Fox Complex, will use a new ramp to connect its West and East Zones, reducing costs and increasing production. Recent drill results show promising gold mineralization, supporting further development. The Stock Property is projected to offer earlier cash flow and lower production costs compared to the Froome Mine.
McEwen Mining announced the closing of a US$22 million (Cdn$30 million) public financing to fund exploration and development at the Fox Complex in Ontario. The financing will support exploration drilling and the underground access ramp development at Stock East and West. The proceeds are designated for Canadian Exploration Expenses (CEE) and Canadian Development Expenses (CDE), with 1,533,000 flow-through common shares issued at a blended average price of $14.36 (Cdn$19.59), a 19% premium to May 27th's closing price. After placement agents' fees, net proceeds were approximately US$20.8 million (Cdn$28.5 million). Cantor Fitzgerald led the syndicate of placement agents, with PearTree Securities structuring the flow-through donation placement. The offering was conducted under a shelf registration statement filed with the SEC and a multi-jurisdictional disclosure system prospectus in Canada.
McEwen Mining (NYSE: MUX, TSX: MUX) announced a flow-through financing at $14.36 (Cdn$19.59) per share, a 19% premium to market. The financing, divided into two parts, aims to raise US$22.0 million (Cdn$30,035,790) to fund exploration and development at the Fox Complex in Ontario. Part 1 targets Canadian Exploration Expenses with 643,000 shares at US$15.56 (Cdn$21.23) per share, while Part 2 targets Canadian Development Expenses with 890,000 shares at US$13.49 (Cdn$18.41) per share. The closing is expected on June 14, 2024, subject to customary conditions including TSX and NYSE approvals. Cantor Fitzgerald is leading the syndicate of placement agents.
McEwen Mining (NYSE: MUX) reported encouraging assay results from the Grey Fox deposit, part of the Fox Complex. The assays indicate high-grade gold near the surface, with potential for deeper mineralization similar to nearby Black Fox and Froome mines.
Key results include:
- 24GF-1426: 586.7 g/t Au over 0.5 m
- 24GF-1424: 14.3 g/t Au over 5.0 m
- 24GF-1397: 17.4 g/t Au over 4.2 m
- 22GF-1366: 8.8 g/t Au over 3.9 m
The current resource estimate for Grey Fox stands at 1,168,000 oz gold indicated and 236,000 oz inferred. Recent drilling has focused on expanding existing resources and identifying new mineralized zones. McEwen plans an updated resource estimate in September.
Grey Fox's geological setting shares similarities with the high-production Young-Davidson Mine, enhancing its potential value. Furthermore, the mineralization is suitable for lower-cost open pit mining.
McEwen Copper completed a 70,000-meter feasibility drilling program at their Los Azules project in Argentina. Key highlights include intercepts of 349 m of 0.77% Cu and 382.5 m of 0.54% Cu. The season's infill drilling campaign aimed to confirm deposit size and grade, test for mineralization extensions, and explore new areas. Initial results suggest an increase in Measured and Indicated resources, with successful mineralization extensions both north and south of the current pit shell. Exploration identified a large porphyry system 3 km east of Los Azules. The results will support the Los Azules Feasibility Study, expected to be completed by early 2025.
McEwen Mining reported its Q1 2024 results, highlighting financial data, production figures, and project developments. The company's gross profit increased to $6.0 million, with an adjusted EBITDA of $6.3 million. They reported a consolidated net loss of $20.4 million, mainly due to an $18.0 million loss from the investment in McEwen Copper. The company's liquidity and capital resources remained stable, with consolidated cash and cash equivalents of $22.0 million. Production from the Gold Bar, Fox Complex, and San José mines exceeded expectations, with a total of 32,725 gold equivalent ounces in Q1. McEwen Mining's Los Azules copper project showed promising results, with significant drilling achievements and improved copper recovery rates. The company also announced the acquisition of Timberline Resources to strengthen their project portfolio in Nevada.
McEwen Mining Inc. (NYSE: MUX) announced the release of their Q1 2024 financial results and invites investors to join the conference call on May 9th, 2024, at 11:00 AM EDT. The management will discuss financial results, project developments, and hold a Q&A session.
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