Core Insights - McEwen Mining Inc. has reported significant drilling results from the Grey Fox Project, indicating a promising increase in gold resources and the discovery of a new exploration corridor at depth [2][3][7] Resource Update - The current resource at Grey Fox consists of 1,538,000 gold ounces at an average grade of 3.64 g/t Indicated and 458,000 gold ounces at 3.30 g/t Inferred [3][11] - The Gibson Zone accounts for approximately 18% of the Indicated resource and 50% of the Inferred resource [11] Drilling Results - Notable drill results include hole 25GF-1539, which returned 12.4 g/t gold over 10.7 m, including a high-grade interval of 27.9 g/t gold over 4.5 m [7][24] - Hole 25GF-1548 returned 4.0 g/t gold over 30.1 m, indicating a potential thickening of mineralization [7][27] - New mineralization has been identified at the Grey Fox South Zone, with drillhole 25GF-1537 returning 6.2 g/t gold over 7.8 m and 4.4 g/t gold over 16.0 m [7][36] Exploration and Future Potential - Ongoing drilling is focused on expanding the known resource and identifying new discoveries below the current endowment [3][12] - The exploration efforts are supported by geophysical surveys aimed at enhancing the understanding of potential new mineralization [12][15] - The results from the drilling campaign may indicate the presence of Black Fox style mineralization below Grey Fox, which could lead to additional resource development [40] Management Commentary - CEO Rob McEwen expressed confidence that Grey Fox will become a cornerstone asset for the company in the future [43] - The company has received the Closure Plan Permit for the Stock Project, with production anticipated to begin in 2026 [44]

Production and Sales Performance - Q1/25 consolidated production totaled 24,132 GEOs, a decrease from 33,037 GEOs in Q1/24, with annual production guidance set at 120,000 to 140,000 GEOs [106]. - Q1/25 revenues were $35.7 million from the sale of 13,036 GEOs, compared to $41.2 million from 19,804 GEOs in Q1/24, reflecting a decrease in sales volume [109]. - Revenue from gold and silver sales decreased by 13% to $35.7 million in Q1/25, down from $41.2 million in Q1/24, primarily due to a 34% decrease in GEOs sold [118]. - Total ounces sold, including stream, decreased to 13,036 in Q1 2025 from 19,804 in Q1 2024, a decline of 34.5% [180]. Financial Performance - Gross profit for Q1/25 was $10.1 million, up from $6.0 million in Q1/24, driven by a 31% increase in average realized gold prices [109]. - Net loss for Q1/25 was $6.3 million, or $0.12 per share, an improvement from a net loss of $20.4 million, or $0.41 per share, in Q1/24 [109]. - Adjusted EBITDA for Q1/25 was $8.7 million, or $0.16 per share, compared to $6.3 million, or $0.13 per share, in Q1/24 [109]. - Revenue from gold sales was $13.3 million in Q1/25, down from $14.7 million in Q1/24, driven by a 33% reduction in GEOs sold, partially offset by a 35% increase in average realized gold price [144]. - Revenue from gold and silver sales for Q1 2025 was $35,696,000, down from $41,228,000 in Q1 2024, a decrease of 13.0% [180]. Cost and Expenses - Cash costs and AISC per GEO sold at the Fox Complex were $2,061 and $2,504, respectively, exceeding annual guidance ranges due to lower GEOs sold [110]. - Production costs applicable to sales decreased by 22% to $19.6 million in Q1/25, down from $25.1 million in Q1/24, driven by lower GEOs produced and sold [119]. - Cash costs per GEO sold for 100% owned operations increased to $1,504 in Q1/25 from $1,268 in Q1/24, while AISC per GEO sold rose to $2,318 from $1,481 [117]. - Production costs applicable to sales for Gold Bar and Fox Complex totaled $19,605,000 for Q1 2025, a decrease of 22.1% from $25,110,000 in Q1 2024 [175]. - All-in sustaining costs (AISC) per ounce sold for Gold Bar and Fox Complex was $2,318 in Q1 2025, compared to $1,481 in Q1 2024, reflecting a 56.5% increase [175]. Production Details by Mine - At the Gold Bar Mine, Q1/25 production was 7,688 GEOs, with expectations for increased production as pre-stripping activities conclude [108]. - San José Mine production in Q1/25 was 10,924 GEOs, a 16% decrease from Q1/24, with plans to increase throughput starting April 2025 [108]. - The Gold Bar Mine produced 7,688 GEOs in Q1/25, a 34% decrease from 11,716 GEOs in Q1/24, attributed to lower mined and stacked tonnes [135]. - The Fox Complex produced 5,520 GEOs in Q1/25, a 26% decrease from 7,486 GEOs in Q1/24 [143]. - The San José mine produced 22,294 GEOs in Q1/25, down from 26,396 GEOs in Q1/24, primarily due to an 8% reduction in gold head grades processed [152]. Investments and Future Projects - The Company invested $3.9 million in Q1/25 for Stock portal access development at the Fox Complex, aiming to begin mining by 2026 [108]. - McEwen Copper completed final drilling activities for the Los Azules feasibility study during Q1/25, advancing the project towards feasibility [108]. - McEwen Copper invested over $400 million in exploration expenditures for the Los Azules copper project, which is advancing towards a definitive feasibility study expected in summer 2025 [158][160]. - The Los Azules project applied for admission to the Large Investment Incentive Regime, which could provide significant fiscal and regulatory benefits if approved [166]. Cash and Liquidity - Cash and cash equivalents increased to $68.5 million as of March 31, 2025, from $13.7 million at December 31, 2024, reflecting a significant liquidity improvement [115]. - Working capital increased to $61.1 million as of March 31, 2025, from negative $6.5 million at December 31, 2024, driven by a $54.8 million increase in cash and cash equivalents [130]. - Cash used in investing activities totaled $13.6 million in Q1/25, primarily for additions to mineral property interests and plant and equipment [128]. Risks and Market Conditions - The company does not hedge any of its sales, exposing it to all changes in commodity prices [202]. - The outstanding debt includes $110.0 million in convertible notes due 2030 and a $20.0 million term loan facility, with fixed coupons indicating insignificant interest rate risk exposure [205]. - There is a risk that the company may not be able to sell equity securities at an acceptable price to meet future funding requirements due to past volatility in investment prices [198]. - The company has not utilized material market risk-sensitive instruments for managing exposure to Canadian dollar and Mexican peso exchange rates but may consider it in the future [196].

TORONTO, May 06, 2025 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) ("Inventus" or the "Company") is pleased to announce that McEwen Mining ("MUX") has exercised 9,200,000 common share purchase warrants as part of the early warrant exercise incentive program for gross proceeds of $828,000. Proceeds from the warrant exercise will be used to advance the Company's 2025 bulk sampling program at its 100%-owned Pardo Gold Project, located 65 km northeast of Sudbury, Ontario. Highlights As part of the bulk ...

Core Viewpoint - McEwen Mining Inc. is set to hold a conference call on May 8, 2025, to discuss its Q1 2025 financial results and project developments, inviting participants to engage in a question-and-answer session [1][2]. Company Overview - McEwen Mining Inc. is a gold and silver producer with operations in Nevada (USA), Canada, Mexico, and Argentina [3]. - The company owns 46.4% of McEwen Copper, which is developing the Los Azules copper project, aiming to be Argentina's first regenerative copper mine and achieve carbon neutrality by 2038 [3]. Management and Financial Commitment - The company focuses on enhancing productivity and extending the life of its assets to increase share price and provide investor yield [4]. - Rob McEwen, Chairman and Chief Owner, has a personal investment of US$205 million in the company, while his annual salary is US$1 [4]. Trading Information - McEwen Mining's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol "MUX" [4].

TORONTO, May 01, 2025 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with McEwen Mining (“MUX”) to evaluate its Stock Mill for processing of material extracted from Inventus’ 100%-owned Pardo Gold Project located 65 km east of Sudbury, Ontario. Highlights The MOU describes the mutual intent of Inventus and MUX to evaluate if processing of bulk sample material can occur at the Stock Mill from ...

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various finance and investing hubs, including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered by the team includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans to maintain quality and best practices in content production [5]

Financing and Debt Management - McEwen Mining Inc. intends to offer $85 million aggregate principal amount of convertible senior notes due 2030 in a private placement[6] - The company plans to use net proceeds from the offering to pay approximately $20 million of the outstanding amount under its existing credit agreement and for general corporate purposes[11] - The credit facility maturity date has been extended from August 31, 2026, to August 31, 2028, and the commencement date for monthly mandatory repayments has been extended to January 31, 2027[4] - The company is permitted to incur up to $110 million principal amount of unsecured convertible senior notes due 2030[4] - The offering includes an option for initial purchasers to buy up to an additional $15 million aggregate principal amount of notes within a 13-day period[8] - The company has entered into an amendment to its credit agreement to facilitate the offering and improve financial flexibility[4] Market Conditions and Risks - The offering is subject to market conditions and other factors, with no assurance that it will be completed on expected terms[16] - Forward-looking statements regarding the offering and its impact are subject to significant uncertainties and risks[18] Financial Performance and Costs - The preliminary unaudited financial information as of December 31, 2024, is subject to change and has not been reviewed or audited[7] - The company faces potential increased costs due to tariffs imposed on imports from Mexico and Canada, which could adversely impact gross margins[14]

Core Viewpoint - McEwen Mining reported disappointing financial results for Q4 2024, with significant declines in production and revenues, missing consensus estimates for both earnings and revenues. Financial Performance - The adjusted loss per share was 15 cents, missing the Zacks Consensus Estimate of a loss of 13 cents per share, compared to earnings of $2.90 in the same quarter last year [1][2] - Including one-time items, the loss was 16 cents per share against earnings of $2.89 per share in the prior year [2] - Revenues from gold and silver sales were $34 million, missing the consensus estimate of $36 million, marking a 42% year-over-year decline [3] - Production decreased by 35% year-over-year to approximately 32.4 thousand ounces, with sales of 31.5 thousand GEOs down 37% from the previous year [4] - The average realized price increased by 35% to $2,648 per GEO [4] - Adjusted EBITDA improved to a positive $5.2 million from a negative $4.9 million in the year-ago quarter [5] Cash Position - The company used $1.2 million in cash for operating activities in Q4, compared to an inflow of $16.4 million in the prior-year quarter [6] - Cash and cash equivalents stood at $13.7 million as of December 31, 2024, down from $23 million a year earlier [6] Annual Performance - For the full year 2024, McEwen Mining reported a loss of 86 cents per share, missing the consensus estimate of a loss of 72 cents per share, compared to earnings of $1.16 in 2023 [7] - Revenues increased by 5% year-over-year to $174 million but fell short of the consensus estimate of $201 million [7] - Consolidated production for 2024 was 135,884 GEOs, down from 154,587 GEOs in 2023, with an average realized price of $2,390 per ounce, a 24% increase from $1,927 per ounce in 2023 [8] Stock Performance - Shares of McEwen Mining have declined by 6.2% over the past year, compared to a 7.7% decline in the industry [9] Zacks Rank - McEwen Mining currently holds a Zacks Rank of 4 (Sell) [10]

Financial Data and Key Metrics Changes - Consolidated production decreased by 12% to 135,884 gold equivalent ounces compared to 2023, while the selling price increased by 24% [4] - Adjusted EBITDA rose significantly to $29.2 million or $0.57 per share, up from $7.7 million or $0.16 per share in 2023, marking a 3.8 times increase [5] - The company reported a net loss of $43.7 million, primarily due to equity accounting for expenditures at Los Azules [5] Business Line Data and Key Metrics Changes - Exploration expenses increased to $16.5 million, contributing to resource growth at the Fox Complex, which now has over 2 million ounces of indicated and inferred resources [8] - Plans to double production at the Fox Complex to 60,000 ounces by 2027, with potential for further increases to 130,000 to 150,000 ounces [9] - The investment in the San Jose Mine is expected to yield dividends soon, marking a positive change after years without dividends [10] Market Data and Key Metrics Changes - The company increased its debt from $40 million to $130 million through a capped call convertible debenture, allowing for a 100% premium over the share price at the time of the deal [11] - Current cash reserves are approximately $62 million, primarily allocated to increasing production at the Fox Complex and Gold Bar [12] Company Strategy and Development Direction - The company is focusing on advancing the Los Azules project, with an implied value of $984 million based on recent financing, and plans for an IPO contingent on market conditions [7] - Exploration efforts are being intensified at the Fox Complex and Gold Bar, with additional acquisitions like Timberline Resources to extend reserve life [10] - Management is optimistic about the copper market and is preparing for a feasibility study completion by June [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational performance of their mines despite the net loss attributed to investments in Los Azules [6] - The management anticipates a positive outlook for copper prices and is preparing for potential market opportunities [8] - There is a belief that the gold sector will see increased interest from investors, driven by rising gold prices and potential M&A activity in the industry [116] Other Important Information - The company received an environmental impact statement for Los Azules, indicating progress in regulatory compliance [14] - A claim from an indigenous group regarding property in Timmins is being addressed constructively by management [17] Q&A Session Summary Question: Opportunities for mine life extension at Gold Bar - Management confirmed ongoing exploration work at Timberline properties, with permitting expected to start soon [22] Question: Future of the royalty portfolio - Management indicated interest in both expanding and potentially monetizing the royalty portfolio [26] Question: Impact of high gold prices on mine planning - Management is actively working to increase production in response to high gold prices, estimating significant cash generation from even small production increases [28] Question: Timeline for Los Azules RIGI approval - Management expects to know about the approval within 2 to 4 months [32] Question: Concerns about Rio Tinto's involvement in McEwen Copper - Management reassured that Rio Tinto cannot squeeze them out due to existing shareholder rights agreements [67] Question: Progress at Stock Mine - Management reported that they are on track to start driving the ramp soon, with production expected to begin later this year [75] Question: Update on Mexico operations - Management is cautiously awaiting permits in Mexico, with readiness to move forward once approvals are received [81] Question: Dividend expectations from Hochschild - Management expects to receive a dividend of just over $2 million from Hochschild by the end of the first quarter [92]

Financial Data and Key Metrics Changes - In 2024, consolidated production was 135,884 gold equivalent ounces, a decrease of 12% compared to 2023, while the selling price of production increased by 24% [3] - Adjusted EBITDA rose to $29.2 million or $0.57 per share, a 3.8 times increase from $7.7 million or $0.16 per share in 2023 [4] - The company reported a net loss of $43.7 million, primarily due to equity accounting and significant expenditures at Los Azules [4][5] - Debt increased from $40 million to $130 million through a convertible debenture, with cash reserves at approximately $62 million [8] Business Line Data and Key Metrics Changes - Exploration expenses totaled $16.5 million, leading to an increase in indicated and inferred resources at the Fox complex to over 2 million ounces, with plans to double production to 60,000 ounces by 2027 [6] - The investment in the San Jose Mine is expected to yield dividends shortly, marking a positive change after years without dividends [7] Market Data and Key Metrics Changes - The company noted that higher metal prices for gold and silver are positively impacting operations [7] - The current market sentiment towards copper is positive, which is crucial for the Los Azules project [5] Company Strategy and Development Direction - The company is focusing on advancing the Los Azules project towards a feasibility study, with plans for an IPO contingent on market conditions [5] - Exploration at the Fox complex is expected to significantly increase production, with potential for a four to five-fold increase in output [6] - The company is also exploring opportunities for mine life extension at Gold Bar and Timberline properties [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing the potential for increased production and cash flow due to high gold prices [21] - The company is actively working to ramp up production to take advantage of current high prices [21] - Management acknowledged the challenges in permitting processes but remains hopeful for progress in both Canada and Mexico [70][74] Other Important Information - The Los Azules project has achieved significant milestones in environmental safety and regulatory compliance, with no fines or infractions reported [11] - The company is engaging with indigenous groups regarding property interests, indicating a proactive approach to community relations [14] Q&A Session Summary Question: Opportunities for mine life extension at Gold Bar - The COO provided insights on ongoing exploration work and permitting timelines for Timberline properties [16][18] Question: Future of royalty portfolio - Management indicated interest in both expanding and monetizing the royalty portfolio when appropriate [20] Question: Impact of high gold prices on mine planning - The COO confirmed that high gold prices are prompting a reevaluation of production plans to maximize cash flow [21] Question: Timeline for Los Azules approval - Management estimated a timeline of two to four months for approval under RIGI [26] Question: Concerns about Rio Tinto's involvement in McEwen Copper - Management reassured that protections are in place to prevent Rio Tinto from exerting undue influence [60] Question: Progress at Stock Mine - The COO detailed the current status of drilling and ramp construction, indicating progress despite permitting delays [68][70] Question: Dividend expectations from San Jose Mine - Management confirmed a dividend of just under $5 million is expected, with the company's share being over $2 million [81]