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McEwen Mining(MUX) - 2022 Q2 - Quarterly Report
2022-08-10 20:11
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33190 MCEWEN MINING INC. (Exact name of registrant as specified in its charter) Colorado 84-0796160 (State or other jurisdic ...
McEwen Mining(MUX) - 2022 Q1 - Earnings Call Transcript
2022-05-13 22:02
McEwen Mining Inc. (NYSE:MUX) Q1 2022 Earnings Conference Call May 13, 2022 12:00 PM ET Company Participants Rob McEwen - Chairman and Chief Executive Officer Anna Ladd-Kruger - Chief Financial Officer Rory Greyvensteyn - Director of Operations, Canada Adrian Blanco - Director of Operations USA & Mexico Stephen McGibbon - Executive Vice President of Exploration Michael Meding - Vice President, Copper and General Manager Bill Shaver - Director Conference Call Participants Marcus Giannini – H.C. Wainwright & ...
McEwen Mining(MUX) - 2022 Q1 - Quarterly Report
2022-05-10 21:01
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33190 MCEWEN MINING INC. Colorado 84-0796160 (State or other jurisdiction of (I.R.S. Employer incorporation or organization ...
McEwen Mining(MUX) - 2021 Q4 - Earnings Call Transcript
2022-03-10 00:47
McEwen Mining (NYSE:MUX) Q4 2021 Earnings Conference Call March 9, 2022 2:00 PM ET Company Participants Rob McEwen - Chairman and Chief Executive Officer Segun Odunuga - VP and Controller and Interim CFO Peter Mah - COO Michael Meding - Vice President, Andes Corporación Minera S.A. Steve McGibbon - EVP of Exploration Conference Call Participants Jake Sekelsky - Alliance Global Partners Joseph Reagor - Roth Capital Partners John Tumazos - John Tumazos Very Independent Research Heiko Ihle - H.C. Wainwright Op ...
McEwen Mining(MUX) - 2021 Q4 - Annual Report
2022-03-04 23:28
Table of Contents Commission file number 001-33190 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: MCEWEN MINING IN ...
McEwen Mining(MUX) - 2021 Q3 - Earnings Call Transcript
2021-11-06 17:33
Financial Data and Key Metrics Changes - Q3 2021 revenue from 100% owned operations was $37.1 million, a 36% increase compared to Q3 2020 [9] - Average realized gold sales price in Q3 2021 was $1,793 per gold equivalent ounce, down from $1,925 in Q3 2020 [9] - Cash gross profit for Q3 2021 was $6.4 million, compared to $3.9 million in Q3 2020, with a nine-month total of $16.1 million versus $2.8 million last year, a 575% increase [10][12] - The company reported a net loss of $17.4 million or $0.04 per share for Q3 2021, compared to a net loss of $9.8 million or $0.02 per share in Q3 2020 [12] Business Line Data and Key Metrics Changes - Gold Bar production in Q3 2021 was 12,400 gold equivalent ounces, an 82% increase year-over-year [18] - Fox Complex production for Q3 2021 was 8,300 gold equivalent ounces, a 42% increase compared to Q3 2020 [19] - San José mine produced 10,800 gold ounces and 790,000 silver ounces in Q3 2021, totaling 21,600 gold equivalent ounces, a 36% increase from last year [22] Market Data and Key Metrics Changes - Year-to-date share performance increased by 15.7%, while industry ETFs GDX and GDXJ declined by 11.6% and 19.7%, respectively [6] Company Strategy and Development Direction - The company is focused on a turnaround strategy, aiming to build an exceptional mining model for the 21st century [4] - Significant investments in exploration are expected to extend the life of mines and support future production growth [5] - The company is advancing the Los Azules copper project, which is one of the largest undeveloped copper porphyry deposits [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about operational improvements and the potential for increased production and lower costs [3][4] - The company is addressing supply chain challenges and has recruited a global procurement lead to mitigate risks [59] - Management noted that COVID-19 is not materially affecting operations or future strategic plans [56] Other Important Information - Total liquid assets as of September 30, 2021, were $72.7 million, compared to $18.8 million for the same period last year [13] - The company spent $10.3 million on exploration and advanced projects during Q3 2021 [12] Q&A Session Summary Question: Guidance for Gold Bar production - Management indicated that the production guidance range reflects uncertainties in transitioning between mining areas and contractor changes [52][55] Question: Impact of COVID-19 on operations - Management confirmed that COVID-19 is not currently affecting operations, with vaccination rates varying by site [56][58] Question: Future cost expectations for Gold Bar - Management expects costs to drop significantly after 2022 as production increases and capital investments moderate [66][68] Question: Exploration budget for next year - Management anticipates a slight decrease in the exploration budget for 2022, around 20% lower than the current year [79] Question: Update on El Gallo and Phoenix expansion - Management is exploring low CapEx alternatives for the El Gallo project and is optimistic about advancing it [81] Question: Long-term growth strategy - Management emphasized the need for a stronger share price to pursue acquisitions and highlighted the potential of McEwen Copper as a significant value driver [84]
McEwen Mining(MUX) - 2021 Q3 - Quarterly Report
2021-11-03 20:01
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33190 MCEWEN MINING INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. ...
McEwen Mining(MUX) - 2021 Q2 - Earnings Call Transcript
2021-08-05 22:43
Financial Data and Key Metrics Changes - Revenues from 100% owned operations in Q2 2021 were $40.7 million, a 123% increase compared to Q2 2020 [8] - Average realized sales prices for gold equivalent ounces were $1,830, up from $1,733 in Q2 2020 [9] - Cash gross profit for Q2 2021 was $9.6 million, an increase of $13.6 million from a cash gross loss of $4.9 million in Q2 2020 [10] - The net loss for Q2 2021 was $6 million or negative $0.01 per share, an improvement from a net loss of $19.8 million or negative $0.05 per share in Q2 2020 [11] Business Line Data and Key Metrics Changes - Consolidated gold production in Q2 2021 was 40,700 gold equivalent ounces, over two times higher than the same period last year [17] - Q2 production from 100% owned operations was 22,400 GEOs, an increase of 12,300 GEOs compared to Q2 2020 [18] - Cash costs per GEO for 100% owned operations were $12.86, about 41% lower than last year [18] - At the Gold Bar Mine, Q2 production was 14,100 GEOs, reflecting a 132% increase over last year [19] - The Fox Complex produced 7,100 GEOs in Q2, more than a threefold increase from 2,200 GEOs in Q2 2020 [21] Market Data and Key Metrics Changes - The San José Mine in Argentina produced 18,200 GEOs in Q2, nearly double the production from the same period last year [27] - Cash costs for the San José Mine were $1,105 per GEO, slightly lower than Q2 2020 [28] Company Strategy and Development Direction - The company is focused on advancing its large copper project, Los Azules, which is seen as a significant value driver [53] - Management is exploring options for funding the project, including private funding for a subsidiary to advance it towards a prefeasibility study [62] - The company aims to address access issues and conduct further drilling to enhance the project's value [65] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about operational improvements and a commitment to regaining lost ground in production and share price [6][7] - The company is on track to reach commercial production at the Froome mine in Q4 2021 [14] - Management highlighted the importance of copper in the context of global electrification and renewable energy trends [59] Other Important Information - The company reported total liquid assets of $48.9 million as of June 30, 2021, compared to $20.8 million for the same period last year [13] - Exploration activities in Q2 2021 totaled approximately $6.9 million, with a focus on cost-effective discoveries [30] Q&A Session Summary Question: Expectations for cost improvements at Gold Bar - Management indicated that costs are trending down and operational improvements are ongoing [72][74] Question: Plans for Mexico and El Gallo - Management is evaluating the Phoenix project and looking for ways to improve its economics [78] Question: Timeline for the Fox Complex - A preliminary assessment is expected to be released in Q4 2021, targeting a 10-year mine life with production of around 100,000 ounces per year [86] Question: Update on the copper project - The project is expected to close in two stages, with plans to go public within 12 to 14 months [90][120] Question: Shareholder value from McEwen Copper - Management is considering distributions to shareholders but highlighted potential tax implications [121]
McEwen Mining(MUX) - 2021 Q2 - Quarterly Report
2021-08-04 20:21
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33190 MCEWEN MINING INC. (Exact name of registrant as specified in its charter) Colorado 84-0796160 (State or other jurisdic ...
McEwen Mining(MUX) - 2021 Q1 - Earnings Call Transcript
2021-05-10 18:21
McEwen Mining, Inc. (NYSE:MUX) Q1 2021 Earnings Conference Call May 10, 2021 11:00 AM ET Company Participants Robert McEwen - Chairman, CEO, President & Chief Owner Anna Ladd-Kruger - CFO Peter Mah - COO Steve McGibbon - EVP, Exploration Conference Call Participants Heiko Ihle - H.C. Wainwright & Co. Jacob Sekelsky - Alliance Global Partners Joseph Reagor - ROTH Capital Partners John Tumazos - John Tumazos Very Independent Research Operator Hello, ladies and gentlemen. Welcome to McEwen Mining's Q1 2021 Ope ...