TORONTO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce the approval of the Environmental Impact Assessment (EIA) for its Los Azules copper project. The Environmental Impact Statement (EIS), which is the ministerial resolution approving the EIA, is a key permitting milestone on the way to feasibility, construction and future operation. This EIS, which is issued by the San Juan Provincial Government's Ministry of Mines, ...

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Company Overview - McEwen Mining Inc. is a gold and silver producer with operations in Nevada, Canada, Mexico, and Argentina [3] - The company owns a 46.4% interest in McEwen Copper, which is developing the Los Azules copper project in Argentina [3] - The objective of the company is to improve productivity and asset life to increase share price and provide investor yield [3] Financial Results Announcement - McEwen Mining will hold a conference call on November 6, 2024, at 11:00 AM EST to discuss Q3 2024 financial results and project developments [1] - Participants can ask questions directly over the phone during the webcast [1] - An archived replay of the webcast will be available approximately 2 hours after the live event [2]

Group 1 - The stock of McEwen Mining (MUX) closed at $10.38, showing a 7.7% gain over the past four weeks, with a mean price target of $13.25 indicating a potential upside of 27.7% [1] - Analysts have set short-term price targets for MUX ranging from a low of $12 to a high of $15, with a standard deviation of $1.56, suggesting a variability in estimates; the lowest estimate indicates a 15.6% increase, while the highest points to a 44.5% upside [2] - There is a strong consensus among analysts that MUX will report better earnings than previously estimated, which historically correlates with potential stock price increases [4][9] Group 2 - The Zacks Consensus Estimate for MUX's current year earnings has increased by 9.3% over the last 30 days, with no negative revisions, indicating positive sentiment among analysts [10] - MUX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting a favorable outlook for the stock [11] - While price targets can be misleading, the direction implied by the consensus price target appears to be a useful guide for potential price movement [8][11]

Core Viewpoint - McEwen Copper Inc. has successfully closed an additional $35 million investment from Nuton LLC, a Rio Tinto Venture, as part of a larger financing effort to support its Los Azules copper project [1][2]. Group 1: Investment Details - The total gross proceeds from the private placement financing have reached $56 million after the second tranche, which included Nuton's purchase of 1,166,666 common shares for $35 million and additional investments from other investors [1][2]. - The initial tranche of the offering raised $19 million, led by McEwen Mining's $14 million investment and Rob McEwen's $5 million investment [1]. Group 2: Ownership Structure - Following the recent share issuances, Nuton now holds 17.2% of McEwen Copper on a fully diluted basis, with McEwen Mining owning 46.4%, Stellantis 18.3%, Rob McEwen 12.7%, and other shareholders making up the remainder [2]. Group 3: Project Development - Proceeds from the offering will be allocated to advancing the feasibility study for the Los Azules copper project, which is expected to be published in the first half of 2025 [2]. - The Los Azules project is recognized as one of the largest undeveloped copper deposits globally, with a PEA estimating a $2.7 billion after-tax NPV at a copper price of $3.75 per pound [5].

Shares of McEwen (MUX) have gained 15.2% over the past four weeks to close the last trading session at $9.68, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $13.25 indicates a potential upside of 36.9%. The mean estimate comprises three short-term price targets with a standard deviation of $1.56. While the lowest estimate of $12 indicates a 24% increase from the current price l ...

Group 1: Agreement and Renewable Energy Initiatives - McEwen Mining's subsidiary, McEwen Copper, has signed an agreement with YPF Luz to power the Los Azules copper mine with 100% renewable energy, aligning with the company's goal of becoming fully renewable [1][5] - The Memorandum of Understanding (MOU) allows YPF Luz to negotiate the exclusive energy supply for the Los Azules project, involving renewable energy via a high-voltage transmission line that YPF Luz will create and finance [2][4] - The project aims to be carbon-neutral by 2038, with a focus on lower water consumption and carbon emissions compared to conventional copper mining practices [5] Group 2: Financial Performance - In Q2 2024, McEwen Mining reported a 38.2% year-over-year increase in revenues, reaching $47 million, surpassing the Zacks Consensus Estimate of $44 million [6] - The company experienced a loss per share of 26 cents, an improvement from a loss of 46 cents in Q2 2023, while the consensus estimate was a loss of 22 cents [6] Group 3: Stock Performance - McEwen Mining's shares have increased by 9.7% over the past year, contrasting with a 0.5% decline in the industry [7]

TORONTO, Aug. 26, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce that its 48%-owned McEwen Copper Inc. has secured an agreement with YPF Luz to power its large Los Azules copper project with 100% renewable energy. This exclusive agreement covers the supply of renewable energy through a high-voltage transmission line, with YPF Luz responsible for its development and financing. YPF Luz and McEwen Copper have signed a Memorandum of Understanding (MOU) that allows the ...

TORONTO, Aug. 22, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) and McEwen Copper Inc. are pleased to announce their participation in Fastmarkets' "Argentina: An emerging powerhouse for copper and lithium" webinar and in three upcoming industry conferences. In the Fastmarkets webinar (available here), McEwen Mining's CEO and Chief Owner Rob McEwen participated in a panel discussion exploring Argentina's vast copper and lithium reserves and how these resources are positioning the country ...

McEwen Mining Inc. (MUX) announced that it completed the previously mentioned deal to acquire all issued and outstanding common shares of Timberline Resources Corporation. This move will boost McEwen Mining's existing portfolio of development and exploration projects in Nevada. On Apr 16, 2024, MUX announced that it signed a definitive agreement and a plan of merger with Timberline. The deal was approved by Timberline shareholders on Aug 16, 2024. According to the deal, former Timberline shareholders will r ...