Mcewen Mng Inc Stock Price, News & Analysis

McEwen Inc. (NYSE: MUX) has entered into a binding letter of intent to acquire Canadian Gold Corp. (TSX-V:CGC) through a plan of arrangement. Under the proposed transaction, Canadian Gold shareholders will receive 0.0225 McEwen shares for each Canadian Gold share, representing a 26% premium to Canadian Gold's 30-day VWAP.

The deal's primary asset is Canadian Gold's Tartan Mine in Manitoba, a high-grade former gold producer with existing infrastructure. The mine previously produced 47,000 ounces of gold between 1987-1989. Post-transaction, Canadian Gold shareholders will own approximately 8.2% of the combined company.

The transaction requires 66⅔% approval from Canadian Gold shareholders and regulatory approvals. Closing is expected by the end of 2025, with potential production restart at Tartan Mine within 24-36 months.

McEwen (NYSE: MUX) has announced a significant discovery of high-grade gold mineralization approximately 200 meters West of the Froome Mine at its Fox Complex. The highlight intercept returned 36.0 g/t gold over 10.0 meters, including 160.0 g/t gold over 2.2 meters.

The Froome West mineralization consists of several sub-vertical, stacked mineralized lenses, similar in style to the Black Fox deposit. The mineralization remains open to the West and at depth, with mining infrastructure development already underway on four levels. The discovery's geology and mineralization style are comparable to the nearby Black Fox Mine, which historically produced nearly 1 million gold ounces down to 800 meters depth.

McEwen Mining (NYSE: MUX) announced the results of its 2025 Annual Meeting of Shareholders and an upcoming corporate name change. The company will change its name to McEwen Inc. effective July 7, 2025, while maintaining its current stock symbol and CUSIP number on both NYSE and TSX exchanges.

The meeting saw approximately 51.81% participation with 27,942,541 shares voted out of 53,934,510 eligible shares. Shareholders approved all proposed items, including the election of 11 directors, executive compensation, appointment of Ernst & Young LLP as auditor for FY2025, and the corporate name change. The name change resolution passed with 26,491,461 votes in favor.

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.