Mcewen Mng Inc Stock Price, News & Analysis

McEwen Mining (NYSE: MUX) has announced the start of construction on a new ramp system at its Fox Complex's Stock Mine, marking a significant growth phase. The Stock Mine, located in the Timmins gold mining district along the Destor-Porcupine fault, will provide access to three gold zones (West, Main, and East) with current resources of 281,000 ounces at 3.12 g/t Indicated and 181,000 ounces at 2.87 g/t Inferred. The project offers key advantages over the current Froome Mine: elimination of an 8% metal stream obligation at $605/oz, increased mill throughput due to softer material, and reduced haulage costs with the mill being on-site versus Froome's 35km distance. Production is expected to begin in the second half of 2025, with initial mining focused on the East Zone for early production and cash flow.

McEwen Mining (NYSE: MUX) reported Q1 2025 results with a gross profit of $10.1 million, up from $6.0 million in Q1 2024. The company produced 24,131 GEOs (Gold Equivalent Ounces), including 10,924 attributable GEOs from San José mine. Net loss improved to $3.9 million ($0.07/share) from $20.4 million in Q1 2024. The company completed a $110 million convertible debt offering to fund growth at Fox Complex, targeting 60,000 ounces by 2027 and potential expansion to 120,000-150,000 ounces by 2030. Cash position strengthened to $68.5 million with working capital of $61.1 million. Despite Q1 challenges at some operations, McEwen Mining maintains its 2025 production guidance of 120,000-140,000 GEOs.

McEwen Mining (NYSE: MUX) has announced significant drilling results from its Grey Fox Project at the Fox Complex. Key highlights include impressive gold intercepts at the Gibson Zone, with hole 25GF-1539 returning 12.4 g/t gold over 10.7m (including 27.9 g/t gold over 4.5m) and hole 25GF-1548 returning 4.0 g/t gold over 30.1m.

The current resource at Grey Fox consists of 1,538,000 gold ounces at 3.64 g/t Indicated and 458,000 gold ounces at 3.30 g/t Inferred. New drilling has identified a promising exploration corridor at depth, with hole 25GF-1537 returning multiple intersections including 6.2 g/t gold over 7.8m and 4.4 g/t gold over 16.0m. Additionally, drilling at the 147 Zone revealed high-grade results of 48.5 g/t gold over 0.8m.

The company also received the Closure Plan Permit for the Stock Project, enabling development and mining operations to begin in 2026.

McEwen Mining (NYSE: MUX) (TSX: MUX) has announced its upcoming Q1 2025 financial results conference call, scheduled for Thursday, May 8th, 2025, at 11:00 AM EDT. During the call, management will discuss financial results and project developments, followed by a Q&A session where participants can ask questions directly.

The call will be accessible through multiple channels, including toll-free numbers for North America (888-210-3454) and other countries, with Conference ID 3232920. A webcast will also be available, and an archived replay will be accessible approximately two hours after the event on the company's media page.

McEwen Mining (NYSE: MUX) reported its Q4 and full year 2024 results, with consolidated production of 135,884 Gold Equivalent Ounces (GEOs), down from 154,587 GEOs in 2023. Despite lower production, revenue increased to $174.5 million, driven by higher gold prices averaging $2,390 per ounce.

The company posted a net loss of $43.7 million ($0.86 per share) in 2024, primarily due to $47.0 million in McEwen Copper-related expenses and $16.5 million in exploration investments. Gross profit improved to $30.9 million from $17.8 million in 2023, while Adjusted EBITDA reached $29.2 million ($0.57 per share).

Looking ahead, MUX aims to increase production at the Fox Complex to 60,000 ounces by 2027, with potential expansion to 120,000-150,000 ounces by 2030. The company recently issued $110 million in Convertible Notes due 2030 to fund growth initiatives. As of March 13, 2025, cash position stood at $62.2 million with total debt of $130 million.

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.