Welcome to our dedicated page for McEwen Mining news (Ticker: MUX), a resource for investors and traders seeking the latest updates and insights on McEwen Mining stock.
McEwen Mining Inc. (symbol: MUX) is a mining and minerals production and exploration company with a focus on precious and base minerals in Argentina, Mexico, and the United States. The company's principal assets include a 49% interest in the San José mine in Santa Cruz, Argentina; the wholly-owned El Gallo 1 mine in Sinaloa, Mexico; the Gold Bar project in Nevada, U.S.; the Los Azules project in San Juan, Argentina; and a substantial portfolio of exploration properties across Argentina, Mexico, and Nevada.
McEwen Mining aims to qualify for inclusion in the S&P 500 by becoming a high-growth gold producer in the Americas. The company's revenue primarily stems from the production of gold and silver, with more than half of its gold output produced by the El Gallo 1 mine, while the San José mine contributes significantly to both gold and silver production.
As of August 7, 2014, McEwen Mining had 297,417,091 shares issued and outstanding. Rob McEwen, the Chairman, President, and Chief Owner, holds 25% of the shares, assuming all outstanding exchangeable shares are converted. On June 30, 2014, the company held cash and liquid assets worth approximately US$16.6 million.
The company has recently shown notable progress, including a net income of $1.15 per share for 2023, compared to a net loss of $1.71 per share in 2022. McEwen Mining's latest exploration initiatives at the San José mine cover the El Retiro and Liv Este targets adjacent to Newmont’s Cerro Negro mine. Further development includes ongoing geophysics and trenching, with future plans for drilling in these areas.
Noteworthy updates include technical advancements and detailed drilling results for the Los Azules project, aimed at expanding the deposit's potential. The company's strategic vision and continuous exploration efforts underline its commitment to achieving significant growth and establishing itself among leading gold producers.
Certarus Ltd. has signed a long-term agreement with McEwen Mining (NYSE: MUX) to supply compressed natural gas (CNG) for heating at the Fox Complex in Matheson, Ontario. This shift from propane to CNG will enhance operational efficiency while lowering emissions and costs. Certarus' mobile CNG technology allows for flexibility in summer months. The agreement showcases a commitment to improving the environmental performance of mining operations and demonstrates McEwen Mining's focus on innovative energy solutions.
McEwen Mining reported Q3 2021 results, marking a significant operational recovery with production meeting expectations. Total production reached 42,900 GEOs, on track for the year guidance of 141,000 to 160,400 GEOs. Cash and liquid assets stood at $72.7 million, while net loss was $17.4 million, up from $9.8 million in Q3 2020. The Froome deposit achieved commercial production ahead of schedule, enhancing cost efficiency in mining. Investments included $6.2 million in exploration and $4 million in advanced projects, reflecting a strong commitment to future growth.
McEwen Mining Inc. (NYSE: MUX) has scheduled a conference call for November 4, 2021, at 2:00 PM EDT to discuss its Q3 2021 financial results and project developments.
Participants can engage in a Q&A session during the call. The webcast will be available for replay on the company's website post-event. McEwen Mining is recognized as a diversified producer and explorer of gold and silver, primarily operating in the Americas, including Nevada, Canada, Mexico, and Argentina.
McEwen Mining Inc. (NYSE: MUX) reported consolidated production of 32,100 gold ounces and 792,000 silver ounces in Q3 2021, totaling 42,900 gold equivalent ounces (GEOs), up from 30,400 GEOs in Q3 2020. Year-to-date production reached 114,300 GEOs, significantly higher than 85,700 GEOs in the same period of 2020. The Fox Complex and Gold Bar Mine showed strong results, with Gold Bar producing 12,400 GEOs, doubling its output. Production is on track to meet the full-year guidance.
McEwen Mining has announced the appointment of William Shaver to its Board of Directors, effective immediately. Shaver has over 50 years of mining industry experience and previously co-founded Dynatec Corporation. He replaces Gregory Fauquier, who has resigned after seven years. Additionally, the Los Azules project is progressing, following a US$40 million private placement. A 53,000-meter drilling program is planned to upgrade mineral resources. Preparations for access roads and hiring experienced professionals for the project are underway.
McEwen Mining (MUX) announced the closing of the first tranche of its Series B private placement, raising $40 million by issuing 4 million common shares at $10 each. The offering is targeted towards accredited investors, with a minimum investment of $1 million. Post-offering, Rob McEwen owns 18.6% of McEwen Copper, which holds interests in the Los Azules project in Argentina and Elder Creek in Nevada. Proceeds will fund the Los Azules project's development, including a new access road and drilling activities, with plans for an IPO within 12 months.
McEwen Mining reported strong Q2 and H1 results for 2021, highlighting production in line with guidance of 141,000 to 160,400 GEOs. Key operational improvements led to significant cost reductions, particularly at Gold Bar and Fox Complex mines. The company raised $40 million for the Los Azules copper project, aiming to secure up to $80 million in total financing. Despite a net loss of $6 million in Q2, cash gross profit rose to $9.6 million. Robust financial metrics and exploration initiatives indicate potential growth opportunities ahead.
McEwen Mining (NYSE: MUX) invites stakeholders to a conference call on August 5, 2021, at 2:00 pm EDT, to discuss Q2 2021 financial results and project updates. Participants can join the call via phone after registration. The call will also be available as a recorded webcast on the company’s media page. McEwen Mining operates in North and South America, producing and exploring gold and silver. Forward-looking statements in the release highlight inherent risks and uncertainties, including market fluctuations and operational challenges.
McEwen Mining Inc. (NYSE: MUX) announced a remarkable increase in consolidated production for Q2 2021, reporting 31,700 gold ounces and 611,800 silver ounces, totaling 40,800 gold equivalent ounces (GEOs). This marks a significant rise from 19,200 GEOs in Q2 2020. Key mines include Gold Bar with 14,100 GEOs, Black Fox at 7,100 GEOs, and San José producing 18,300 GEOs. The company affirms it is on track with its 2021 production guidance and reported approximately $44 million in liquid assets as of June 30, 2021.
McEwen Mining Inc. (NYSE and TSX: MUX) announced a non-brokered private placement financing of up to 8,000,000 common shares of McEwen Copper Inc. at US$10.00 per share, aiming for gross proceeds of US$80 million. Rob McEwen will personally invest US$40 million for 4,000,000 shares. The funds will support the development of the Los Azules copper project and more. Following the offering, McEwen Mining will own 68.6% of McEwen Copper and plans an IPO within 12 months.
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