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 (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.
McEwen Copper, a subsidiary of McEwen Mining (NYSE: MUX), has secured an additional $35 million investment from Nuton, a Rio Tinto Venture, through the purchase of 1,166,666 common shares at $30.00 per share. This investment is part of a larger $70 million private placement offering. The second tranche also included $2 million from two other investors. Following this transaction, Nuton owns 17.2% of McEwen Copper, with the company's shareholder structure now comprising McEwen Mining (46.4%), Stellantis (18.3%), Nuton (17.2%), Rob McEwen (12.7%), Victor Smorgon Group (3.0%), and others (2.0%). The proceeds will fund the Los Azules copper project feasibility study, due in H1 2025.
McEwen Mining has released new assay results from its Grey Fox deposit in the Timmins region of Ontario, Canada. The results show good grade mineralization over mineable widths near existing underground infrastructure. Highlights include:
- 24GF-1471: 4.9 g/t Au over 6.4 m
- 24GF-1474: 13.8 g/t Au over 2.4 m
- 24GF-1452: 9.8 g/t Au over 2.8 m
Grey Fox currently has a +1 Million ounce gold resource. Geological interpretations suggest potential for high-grade Black Fox style mineralization below and adjacent to Grey Fox, possibly extending 3 km towards the Black Fox Mine. The company plans follow-up geophysical surveys and drilling in 2025 to explore this potential.
McEwen Mining (NYSE: MUX) (TSX: MUX) has announced that its 48%-owned subsidiary, McEwen Copper Inc., has secured an agreement with YPF Luz to power the Los Azules copper project with 100% renewable energy. The exclusive agreement includes the development and financing of a high-voltage transmission line by YPF Luz to connect the project to the Argentine Interconnection System (SADI).
The energy will be sourced from YPF Luz's renewable assets connected to SADI. This partnership aims to contribute significantly to decarbonization efforts and position San Juan province as a key player in the energy transition. The agreement strengthens the alliance between McEwen Copper and YPF Luz, which began in early 2023, focusing on sustainable copper production and comprehensive energy solutions.