McEwen Mining Inc
TSX:MUX
McEwen Mining Inc
McEwen Mining, Inc. engages in the the production and exploration of precious and base metals, It operates through the following geographical segments: USA, Canada, Mexico, MSC , and Los Azules. The company is headquartered in Toronto, Ontario and currently employs 430 full-time employees. The firm is engaged in the exploration, development, production and sale of gold and silver and exploration and development of copper. The firm is focused on precious and base metals in Argentina, Mexico and the United States. The firm's segments include USA, Canada, Mexico, Minera Santa Cruz (MSC) and Los Azules. The USA segment includes the production property, Gold Bar mine and other exploration properties. The Canada segment consists of the Black Fox and Stock properties and various exploration and advanced stage properties (the Fox Complex). The Mexico segment includes the El Gallo Project, Fenix Project and other Mexican properties. The MSC segment includes properties, such as the San Jose mine and other concessions located around the mine. The Los Azules segment includes the copper exploration project located in San Juan, Argentina.
McEwen Mining, Inc. engages in the the production and exploration of precious and base metals, It operates through the following geographical segments: USA, Canada, Mexico, MSC , and Los Azules. The company is headquartered in Toronto, Ontario and currently employs 430 full-time employees. The firm is engaged in the exploration, development, production and sale of gold and silver and exploration and development of copper. The firm is focused on precious and base metals in Argentina, Mexico and the United States. The firm's segments include USA, Canada, Mexico, Minera Santa Cruz (MSC) and Los Azules. The USA segment includes the production property, Gold Bar mine and other exploration properties. The Canada segment consists of the Black Fox and Stock properties and various exploration and advanced stage properties (the Fox Complex). The Mexico segment includes the El Gallo Project, Fenix Project and other Mexican properties. The MSC segment includes properties, such as the San Jose mine and other concessions located around the mine. The Los Azules segment includes the copper exploration project located in San Juan, Argentina.
Improved Metal Prices: McEwen Mining is benefiting from strong increases in gold, silver, and copper prices, supporting its asset portfolio.
Los Azules Progress: The Los Azules copper project advanced significantly, receiving key regulatory endorsement in Argentina and publishing a robust feasibility study.
Financial Results: The company reported a narrowed net loss of $0.5 million, with positive adjusted EBITDA of $11.8 million for the quarter.
Production Challenges: Q3 gold production was impacted by unexpected issues at Gold Bar, but management expects operations to stabilize and return to guidance levels in Q4 and into 2026.
Canadian Gold Corp Acquisition: The acquisition is expected to close in January, with a new resource estimate and PEA planned for 2024.
Strong Treasury: McEwen ended Q3 with $51 million in cash and $24 million in marketable securities, with sufficient liquidity for upcoming projects.
Los Azules IPO: The company aims to take Los Azules public in 2025, targeting a higher valuation following strong feasibility results.
