Core Viewpoint - McEwen Inc. has amended and refiled its Technical Report on the Fox Complex following a review by the Ontario Securities Commission, with no changes to the Mineral Resources statements [1][2]. Company Overview - McEwen Inc. provides exposure to gold, copper, and silver through its three mines located in the USA, Canada, and Argentina, along with a large advanced-stage copper development project in Argentina and a gold and silver mine on care and maintenance in Mexico [3]. - The Los Azules copper project aims to become one of the world's first regenerative copper mines, with a commitment to carbon neutrality by 2038 [3]. Technical Report Details - The amended Technical Report now includes information required under Items 16 to 22 of Form 43-101F1 for an advanced property that was previously omitted from the original filing [6]. - John Ryan Cox was replaced as a co-author of the report to comply with NI 43-101 requirements for Qualified Persons [6].

Core Viewpoint - McEwen Inc. reports positive results from its 2025 drilling program at Windfall, part of the Gold Bar Mine Complex, aimed at increasing gold resources, extending mine life, and lowering production costs [1][3][10]. Summary by Sections Drilling Program and Results - The Windfall drilling program is part of several initiatives to enhance the Gold Bar Mine Complex, with the average grade mined in the first half of 2025 being 0.76 gpt Au [3][10]. - New drilling results indicate significant near-surface oxide gold mineralization along a 1.6-kilometer section of the Windfall fault zone, with potential for further expansion [6][10]. - Drill hole WF039 reported 2.43 gpt gold over 74.7 meters, with other notable results including 4.57 gpt over 12.2 meters and 1.70 gpt over 64.0 meters from different drill holes [9][28]. Resource Estimates - The company anticipates that incorporating the 2024-2025 Windfall drill results will positively impact the resource size, which currently includes 423,000 ounces in the Measured and Indicated categories and 84,000 ounces in the Inferred category [8][10]. - The newly discovered gold mineralization extends beyond previous resource estimates, with promising grades and thicknesses that could be processed using heap leach recovery [10][31]. Future Plans - The company plans to continue resource-definition and expansion drilling in the Windfall area, test higher-grade zones, and publish an updated resource estimate [18]. - The Windfall area is situated on patented claims, which may expedite the permitting process for production [31]. Company Overview - McEwen Inc. operates in mineral-rich regions, including Nevada, Ontario, and Argentina, and is also considering reactivating a gold and silver mine in Mexico [12]. - The company holds a 46.4% interest in McEwen Copper, which is developing the Los Azules copper project in Argentina, valued at approximately US$456 million [13]. Leadership and Strategy - Chairman Rob McEwen has invested over US$200 million personally and aligns his interests with shareholders by taking a nominal salary, aiming to enhance profitability and share value [15].

Core Insights - The article emphasizes the significant upside potential of McEwen Mining, particularly regarding its Los Azules copper project located in San Juan Province, Argentina [1] Company Analysis - McEwen Mining is highlighted for its competitive advantages and promising future prospects, focusing on strong cash flow generation, growing income, healthy margins, solid asset base, and sustainable debt levels [1]

Company Overview - McEwen Mining (MUX) shares increased by 5.6% to close at $22.72, with a notable trading volume compared to typical sessions, and a total gain of 59.3% over the past four weeks [1][2] Acquisition Announcement - McEwen announced an agreement to acquire Canadian Gold Corp, which owns the Tartan Lake Gold Mine Project in Manitoba, Canada, a high-grade gold project with existing infrastructure and exploration potential [2][3] - The acquisition terms stipulate that each holder of a Canadian Gold share will receive 0.0225 McEwen common shares, equating to a current offer price of CDN $0.60 per Canadian Gold share, with completion expected in early January 2026, pending regulatory approvals [3] Earnings Expectations - McEwen is projected to report quarterly earnings of $0.31 per share, reflecting an 875% year-over-year increase, with revenues expected to reach $66.1 million, a 26.5% increase from the previous year [4] - The consensus EPS estimate for McEwen has been revised 95.2% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [5] Industry Context - McEwen holds a Zacks Rank of 2 (Buy) within the Mining - Miscellaneous industry, which includes other companies like Metalla Royalty & Streaming Ltd. that has also shown significant returns [6]

Core Viewpoint - McEwen Inc. has entered into a definitive agreement to acquire Canadian Gold Corp., which will make Canadian Gold a wholly-owned subsidiary of McEwen if approved by shareholders and the Supreme Court of British Columbia [1][3]. Transaction Details - The acquisition will be executed through a statutory plan of arrangement, with Canadian Gold shareholders receiving 0.0225 McEwen shares for each Canadian Gold share held, equating to a current offer price of CDN $0.60 per Canadian Gold share, representing a 96.7% premium over the previous closing price [2][3]. - The transaction is expected to close in early January 2026, pending necessary approvals [1][3]. Shareholder Impact - Upon completion, existing McEwen shareholders will own approximately 92% of the combined entity, while Canadian Gold shareholders will own about 8% [3]. - The transaction is anticipated to provide significant benefits to both Canadian Gold and McEwen shareholders, including enhanced liquidity and access to McEwen's diversified portfolio [5][6]. Asset Overview - Canadian Gold's primary asset is its 100% interest in the Tartan Lake Gold Mine Project, a high-grade gold project with existing infrastructure and exploration potential [4][6]. - The Tartan Mine is strategically located near Flin Flon, Manitoba, benefiting from access to a skilled mining workforce [6]. Approval Process - The Arrangement Agreement has been approved by the Boards of Directors of both companies, with independent financial advisors confirming the fairness of the proposed consideration [8]. - The transaction requires approval from 66 ⅔% of Canadian Gold shareholders and a simple majority from minority shareholders at a special meeting scheduled for December 5, 2025 [13]. Regulatory Compliance - The completion of the Proposed Transaction is subject to customary closing conditions and necessary court and regulatory approvals, including those from the TSX Venture Exchange, TSX, and NYSE [13].

Core Viewpoint - McEwen Mining (MUX) has been upgraded to a Zacks Rank 2 (Buy) due to a significant upward trend in earnings estimates, which is a strong indicator of potential stock price movements [1][2]. Earnings Estimates and Stock Price Impact - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [3]. - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, influencing their buying and selling decisions, which in turn affects stock prices [3]. McEwen's Earnings Outlook - The recent increase in earnings estimates for McEwen signifies an improvement in the company's underlying business, which is expected to positively influence its stock price [4]. - For the fiscal year ending December 2025, McEwen is projected to earn $0.10 per share, with a remarkable increase of 766.7% in the Zacks Consensus Estimate over the past three months [7]. Zacks Rank System - The Zacks Rank stock-rating system classifies stocks based on earnings estimates and has a proven track record, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988 [6]. - The upgrade of McEwen to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [9].

Summary of McEwen Mining and McEwen Copper Conference Call Company Overview - **Company**: McEwen Mining (NYSE:MUX) and McEwen Copper - **Key Executives**: Rob McEwen (Executive Chairman) and Michael Meding (VP and GM of Los Azules) - **Market Focus**: Gold, copper, and silver mining with significant exploration and production potential Industry Insights - **Commodity Market Context**: Current commodity prices are at a cyclical low compared to the S&P 500, suggesting a favorable buying opportunity for commodities [2][3] - **Mining Ownership**: Only about 1% of global portfolios are invested in mining, indicating a potential for growth in this sector [2] - **Copper Demand**: Increasing demand for copper driven by electrification and data centers, with a projected shortage of 300,000 to 500,000 tons in 2023 [13] Financial Performance - **Trading Volume**: McEwen Mining trades approximately $1 million daily, with a three-month average of $28 million [3] - **Ownership Structure**: Rob McEwen owns 15% of McEwen Mining and 13% of McEwen Copper, with institutional investors holding significant stakes [4] - **Cash Position**: The company has $54 million in cash and has raised $450 million for its copper subsidiary [6][25] Project Highlights - **Los Azules Project**: - Located in Argentina, it is a world-class copper resource with significant upside potential [11][12] - Feasibility study indicates a production capacity of 3.3 million tons of copper with an after-tax NPV of $2.9 billion and an IRR of 19.8% [15][16] - Initial capital costs have increased from $2.5 billion to $3.2 billion due to cost escalations in Argentina [14][15] - The project aims for first copper production by 2030 [20] Environmental and Strategic Initiatives - **Sustainability Focus**: The project is designed with low carbon intensity and renewable energy agreements, aiming for carbon neutrality by 2038 [17][19] - **Government Support**: Received REGI approval from the Argentine government, which provides tax stability and incentives [20] Exploration and Growth Potential - **Resource Estimates**: McEwen Mining has 4.2 million ounces of gold, over 37 million ounces of silver, and more than 13 billion pounds of copper attributable to its interests [7] - **Production Growth**: Projected 73% increase in production by 2030, primarily through organic growth [8][32] - **Exploration Targets**: Identified seven targets on the Los Azules property, with plans for drilling [25][26] Market Outlook - **Gold and Silver Prices**: Anticipated increases in gold prices, with silver expected to follow suit, potentially reaching $300 to $500 [34] - **Investment Sentiment**: Growing interest in gold as a safe-haven asset, with expectations of increased investment in the mining sector as tech investments decline [39] Conclusion - McEwen Mining and McEwen Copper are positioned for significant growth in the mining sector, with strong project fundamentals, strategic partnerships, and a focus on sustainability. The current market conditions present a favorable environment for investment in commodities, particularly gold and copper.

Core Insights - McEwen Copper Inc. announced positive results from the independent Feasibility Study (FS) for its Los Azules copper project, confirming it as a long-life, low-cost producer of high-purity copper cathodes with strong economic returns and sustainability [1][2][3] Economic Metrics - The FS indicates an after-tax Net Present Value (NPV) of $2.9 billion and an Internal Rate of Return (IRR) of 19.8% with a payback period of 3.9 years [9][74] - Initial capital costs are estimated at $3.17 billion, with average annual copper production projected at 148,200 tonnes (327 million lbs) over a 21-year mine life [9][72] - C1 cash cost is $1.71 per pound, and All-In Sustaining Costs (AISC) are $2.11 per pound [9][74] Mineral Resources and Reserves - The project has a measured and indicated mineral resource of 5.4 billion lbs of copper and an inferred resource of 20 billion lbs [9][47] - Proven and probable mineral reserves are estimated at 10.2 billion lbs of copper [9][51] Environmental and Sustainability Aspects - The project is designed to have a 72% lower mine-to-metal carbon intensity compared to the industry average and aims for carbon neutrality by 2038 [15][24] - It will utilize 100% renewable power and has a water consumption rate 74% lower than conventional milling [15][48] Strategic Partnerships and Financing - A strategic collaboration agreement with the International Finance Corporation (IFC) aims to align with ESG standards and support potential financing of over $1.1 billion for equipment and infrastructure [16][9] - The project has been accepted into Argentina's Large Investment Incentive Regime (RIGI), providing tax and legal stability for 30 years [15][48] Development Timeline - Construction is targeted to begin in 2026, with the first copper expected by 2030 [15][9] - Exploration of four nearby porphyry targets is set to commence in Q4 2025, which could extend the mine life [9][37]

Core Insights - The recent surge in gold prices is driving momentum for gold mining stocks, with three companies—Galiano Gold Inc., McEwen Inc., and Seabridge Gold Inc.—ranking highly in momentum metrics as gold approaches the $4,000 mark [1][2] - Experts believe that the rally in gold mining stocks is just the beginning, as these stocks remain undervalued despite significant price increases [7][8] Company Performance - Galiano Gold Inc. (GAU) has seen its momentum score rise from 88.5 to 92.04, reflecting a year-to-date increase of 92.37% and an 82.61% increase over the past year [10] - McEwen Inc. (MUX) improved its momentum percentile from 89.91 to 93.83, although it has experienced a decline of 121.55% year-to-date and 87.69% over the past year [10] - Seabridge Gold Inc. (SA) increased its momentum score from 86.57 to 90.78, with a year-to-date rise of 105.32% and a 48.38% increase over the past year [10] Valuation Insights - Despite a 140% increase in mining stocks this year, their price-to-earnings ratios are contracting, indicating that earnings are growing faster than share prices [8][11] - Analysts predict that if gold prices remain high, gold miners could achieve the highest profit margins in industry history, enhancing their investment appeal [12]

Core Viewpoint - McEwen Mining Inc. is positioned for potential growth due to its significant projects, particularly the Los Azules copper project, and favorable market conditions indicated by a positive price target from Roth Capital [1][2][4]. Company Overview - McEwen Mining Inc. focuses on precious metals, primarily gold and silver, with operations in the Americas and notable projects like the Los Azules copper project in Argentina [1]. - The company competes with major players in the mining sector, including Barrick Gold and Newmont Corporation [1]. Market Analysis - On October 3, 2025, Roth Capital set a price target of $19 for McEwen Mining, indicating a potential increase of approximately 15.71% from the current price of $16.42 [2][6]. - The current stock price of MUX is $16.42, reflecting a decrease of 2.15% or $0.36, with a market capitalization of around $888.43 million [5][6]. Project Development - The Los Azules project is a key venture for McEwen Mining, with TNR Gold Corp holding a 0.4% net smelter returns royalty and the project being included in Argentina's Large Investment Incentive Regime (RIGI) [3][4]. - The RIGI aims to enhance strategic initiatives with an investment of $2.672 billion for exploration, construction, and operations, which could bolster investor confidence in McEwen Mining [3][4]. Stock Performance - MUX's stock has fluctuated between $15.66 and $17.04 on the day, with a 52-week high of $17.52 and a low of $6.38 [5]. - The trading volume for MUX on the NYSE is reported at 1,831,868 shares [5].