McEwen Mining(MUX) - 2024 Q4 - Annual Results

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]