McEwen Mining Inc. (MUX) stated that its 48% owned subsidiary, McEwen Copper Inc., has signed an agreement with YPF Luz to power its massive Los Azules copper mine with 100% renewable energy. This agreement is consistent with MUX's goal of becoming 100% renewable. YPF Luz and McEwen Copper have signed a Memorandum of Understanding (MOU), which allows them to negotiate the exclusive energy supply for the Los Azules project in the San Juan province. This deal involves the provision of renewable energy via a h ...

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 ...

TORONTO, Aug. 19, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported the completion of the previously announced acquisition of all the issued and outstanding common shares of Timberline Resources Corporation (TSXV:TBR)(OTCQB:TLRS) ("Timberline") by way of a merger between Timberline and a wholly-owned subsidiary of McEwen Mining (the "Transaction"). Timberline shareholders overwhelmingly approved the merger with McEwen Mining at Timberline's special meeting held on August 16th ...

Financial Data and Key Metrics Changes - The company recorded a gross profit of $10.8 million and adjusted EBITDA of $7.2 million, marking a significant improvement compared to losses in the second quarter of the previous year [2] - Cash increased by 77% to $40.7 million, and working capital rose by 28% to $29.1 million, while debt remained unchanged at $40 million [2] - The implied value of McEwen Copper has risen to $947 million, with McEwen Mining's 48.3% interest valued at $457 million, equating to $8.45 per fully diluted share [2][3] Business Line Data and Key Metrics Changes - The Gold Bar operation showed strong performance, with production slightly above targets, contributing to lower costs [7] - The company is conducting significant drilling at Gold Bar, with $5 million spent so far this year, which is expected to help maintain cost predictability [7] Market Data and Key Metrics Changes - The investment outlook for Argentina has improved significantly, attributed to recent government changes that favor foreign direct investment [3][4] - The recent transaction by BHP in Argentina's copper sector has set new valuation metrics for large copper deposits, positively impacting the perceived value of Los Azules [4][16][17] Company Strategy and Development Direction - The company is focused on leveraging the improved investment climate in Argentina to enhance the value of its assets, particularly Los Azules [3][4] - Management is optimistic about the potential for increased production and cash flow from ongoing exploration and development projects [12][27] Management's Comments on Operating Environment and Future Outlook - Management highlighted the positive changes in Argentina's regulatory environment, including tax reductions and improved investment conditions, which are expected to benefit future projects [11][33] - The company anticipates a feasibility study for Los Azules to be released early next year, which should further clarify its value [24] Other Important Information - The company owns a portfolio of six royalties, with the largest being a 1.25% NSR on Los Azules, and three cash-flowing gold and silver mines [3] - The RIGI law in Argentina is expected to provide significant tax benefits and stability for mining projects, enhancing the attractiveness of investments in the region [32][33] Q&A Session Summary Question: Ground conditions at Fox mine - Management confirmed that issues were localized to a specific area and have been stabilized [5][6] Question: Cost expectations at Gold Bar - Management indicated that costs are expected to remain predictable based on current production levels and ongoing drilling efforts [7] Question: Long-term tax outlook in Argentina - Management discussed the expected reduction in corporate tax rates and other benefits from the RIGI law, which will enhance project attractiveness [10][11] Question: Exploration budget for Los Azules - Management stated that significant drilling has already been completed, and future expenditures will be lower than previous campaigns [13] Question: Dividend updates from Hot Shield - Management confirmed a small dividend received and indicated potential for a more substantial dividend in the future based on cash generation [27] Question: Updates on permitting in Mexico - Management expressed optimism about receiving permits soon, while also exploring ways to reduce capital costs [29] Question: Updates on RIGI benefits - Management provided details on the RIGI law's benefits, including tax reductions and accelerated VAT recovery [32][33] Question: Stock price reflection of McEwen Copper - Management noted that the separation of McEwen Copper was intended to enhance visibility and that recent transactions in the region should help reflect its value [24][26]

McEwen (MUX) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of a loss of $0.22. This compares to loss of $0.46 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -18.18%. A quarter ago, it was expected that this gold and silver mining company would post a loss of $0.03 per share when it actually produced a loss of $0.41, delivering a surprise of -1,266.67%. Over the last four quarters, the ...

TORONTO, Aug. 07, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported its second quarter (Q2) and half year (H1) results for the period ended June 30th, 2024. "I'm delighted that this quarter was the most profitable since 2016 as measured by Adjusted EBITDA(1) for our mining operations and Q3 is off to a good start. Production costs increased 8% quarter-overquarter, but revenue grew by 38%. Fox and Gold Bar are capitalizing on the higher gold prices to increase operating cash f ...

TORONTO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) invites you to join our conference call following the release of our Q2 2024 financial results on Thursday, August 8th, 2024, at 11:00 AM EDT, where management will discuss our financial results and project developments and follow with a question-and-answer session. Participants can ask questions directly over the phone during the webcast. Thursday August 8th 2024 at 11:00 AM EDT Toll Free Dial-In North America: (888) 210-3 ...

TORONTO, July 02, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) ("MUX" or the "Company") announces the results of the MUX Annual Meeting of Shareholders held on June 27, 2024. Key approvals included the Company's 2024 Equity and Incentive Plan and the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. Ratification of the appointment of Ernst & Young LLP as auditors: https://www.mcewenmining.com/media/overvi ...