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 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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