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.
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.
McEwen Mining Inc. (NYSE: MUX) will host its virtual annual shareholders meeting on June 28, 2021, at 4:00 p.m. Eastern Time. Shareholders can access the meeting at www.meetingcenter.io/236635772. Following formal proceedings, management will provide updates on operational performance and expansion plans, along with a Q&A session. Additionally, the presentation will be archived on the company's media page.
McEwen Mining operates across the Americas, focusing on gold and silver production, along with a significant copper deposit in Argentina.
McEwen Mining (NYSE: MUX) announced strong exploration results from its Stock West project, revealing significant gold intercepts, including 6.08 g/t Au over 25.7 m. The company is in a $20 million exploration program at Fox Complex, supporting a Preliminary Economic Assessment (PEA) for potential expansion. Encouraging results also come from the Gold Bar mine in Nevada and the San Jose project in Argentina, with a notable 62.5 g/t Au and 5,571 g/t Ag intercept. Overall, the drilling campaigns support McEwen's strategic growth initiatives.
McEwen Mining reported its Q1 2021 results, producing 23,300 gold ounces and 493,200 silver ounces, totaling 30,600 gold equivalent ounces. The company had $52.5 million in cash and liquid assets and net proceeds of $42 million from financings. A net loss of $12.5 million was reported, improved from $99.2 million in Q1 2020. Exploration investments totaled $6.8 million, with production expected to increase by 20-40% in 2021. Key developments include the completion of the first development horizon at the Froome deposit and an upcoming Preliminary Economic Assessment.
McEwen Mining Inc. (NYSE: MUX) announces a conference call on May 10, 2021, at 11:00 am EDT to discuss its Q1 2021 financial results and project updates. Participants can join the call via a provided registration link and the event will be archived on their website. McEwen Mining operates mines in the Americas and holds a copper deposit in Argentina. The company cautions that forward-looking statements in the release are subject to various risks and uncertainties, which may cause actual results to differ.
McEwen Mining (NYSE: MUX) reported consolidated production of 23,300 gold ounces and 493,200 silver ounces for Q1 2021, totaling 30,600 gold equivalent ounces (GEOs), down from 35,100 GEOs in Q1 2020. The company anticipates a production increase of 20-40% over the current year compared to 2020. Key operations include Black Fox with 5,200 GEOs, San José with 16,700 GEOs, Gold Bar at 7,400 GEOs, and El Gallo at 1,300 GEOs. Exploration budgets for 2021 are set at $9 million, $10 million, $5 million, and operations at El Gallo are under a new agreement.
McEwen Mining (NYSE: MUX) has announced two significant senior management appointments: Stephen McGibbon as Executive Vice President of Exploration and Ruben Wallin as Vice President of Environment, Health, Safety & Sustainability. Both individuals have proven track records in the mining industry, with McGibbon previously contributing to Goldcorp’s success at the Red Lake mine and revitalizing the Hardrock Project. Wallin brings over 30 years of global experience in environmental and sustainability practices, having worked with major mining operations in Canada and internationally.
McEwen Mining (NYSE: MUX) announced the restoration of activities at its El Gallo Project in Mexico after resolving community concerns. A new 10-year agreement has been established, ensuring enhanced support for local communities and increased operational stability. This development is expected to contribute positively to the long-term viability of the El Gallo operation, benefitting both the company and the surrounding communities.
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