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McEwen Mining (MUX) : GEO 150,000/yr. Gold miner (est.)


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MUX peaks when it catches UGL...

MUX /McEwen: 47.4M sh x$5.17>8.10= $245M>$384M .. BkVal. $7.59 /sh.

MUX-etc Feb/'22: $8.10+0.29 /UGL: 66.90=12.1% /Copper-3.846=211%

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MUX as % fr.2023: 10d: vs: Cu:

3/05/24: (8.10/3.846= 211%), FCX:($37.12, 21.8%),GM:($40.65, 19.9%)

5/22/23: (8.02/3.690= 217%) FCX:($35.90,22.3%),GM:($32.72, 24.5%)

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: MUX. vs. UGL. 2016: 4/19: 2021: 2022: Ytd: 10d /

3/27: $8.00 / gdx: $31.52= r-25.4% / ugl: $62.21= r-12.9%
11/11: $5.17 / gdx: $28.30= r-18.3% / ugl: $52.63= r-9.82%

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2016: 2021: 2yr: Ytd: 10d / $5.17 2022 range (2.81 to 11.80)

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2016:

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2016-Log: $8.10  (Range: 5.92 to 10.00 )

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Ratio: MUX.  $5.17 / gdx: $28.30= r-18.3% / ugl: $52.63= r-9.82%

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Website: www.mcewenmining.com

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MUX vs. SPX : since 7/2016: 4/2019:      UPDATE: NOV.2022 RALLY UNDERWAY !
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OLD: May'18:> : Last : mux-$2.10, spx-$2,663 : 0.08% : 1268x
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MUX Charts & News

MUX / McEwen Mining ... update;  Resistance at $6. Last: $5.66

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=== NEWS

2022-12-21 17:24 U:MUX News Release McEwen Mining Operations Performing Better
2022-12-19 11:37 U:MUX News Release McEwen Mining: New, Near Surface, High Grade Beside Our Mill
2022-11-28 06:00 U:MUX News Release Good Grades Near Surface, High Grade at Depth

McEwen Mining Operations Performing Better

2022-12-21 17:24 ET - News Release

TORONTO, Dec. 21, 2022 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report our production for October and November along with our forecast for 2022 and guidance for 2023. The bottom line, production is increasing and costs per ounce are falling.

“As we end 2022, we would like to give our shareholders an update on our recent production results and costs which illustrate the turnaround we are executing as well as our guidance for 2023. We had a difficult start to 2022 but it is clear that we are trending up and in the right direction as we move into the new year.” said Rob McEwen, Chairman and Chief Owner.

Table 1 below provides production and cost results for 2021, October and November 2022, full year 2022 forecast, our production guidance range for full year 2022, and 2023 guidance.

Full Year Guidance.         :  Mid.   : $-Cost :  AISC. :
GEOs
2022 : 134,600-141,800 : 140.0k: $1230E: $1600E
2023 : 150,000-170,000 : 160.0k: $1200E: $1500E
==========   change : +14.3%: -2.40% : -6.25%

Total production for October and November was approximately 26,700 gold equivalent ounces(1) (GEOs) with preliminary costs per ounce from our 100%-owned operations of $826 for cash costs and $1,088 for all-in sustaining. At San José Mine, costs per ounce for October and November were of $1,361 for cash costs and $1,745 for all-in sustaining.

Consolidated production guidance for 2023 represents an 11% to 25% increase to 150,000 to 170,000GEOs from 2022 forecast production, with $1,200 cash costs per ounce and $1,500 all-in sustaining costs per ounce from 100%-owned operations and $1,250 cash costs per ounce and $1,550 all-in sustaining costs per ounce from the San José Mine. Cash costs per ounce are expected to decrease slightly compared to 2022 and all-in sustaining costs per ounce are expected to decrease 6% at our 100% owned operations and decrease 10% at the San José Mine in 2023 compared to 2022.

> https://www.stockwatch.com/News/Item/U-z8718879-U!MUX-20221221/U/MUX

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Automaker Stellantis makes $155M investment in McEwen Mining's copper project in Argentina

Cleaning-metal-bar.gif(Kitco News) - Automaker Stellantis (NYSE: STLA) today announced a $155 million investment in a project located in Argentina, which will make a “major contribution” to the company’s plan to become carbon net zero by 2038.

In a press release, the company said it is acquiring a 14.2% equity stake in McEwen Copper, a subsidiary of Canadian mining company McEwen Mining, which owns the Los Azules project in Argentina and the Elder Creek project in Nevada, USA.

With this stake, Stellantis will become McEwen Copper’s second largest shareholder, along with Rio Tinto, through its copper leaching technology venture, Nuton.

The company added that Los Azules plans to produce 100,000 tons per year of cathode copper at 99.9% purity starting in 2027 and the resources can secure the operation for at least 33 years.

“Stellantis intends to lead the industry with the commitment to be carbon net zero by 2038 – a goal that requires innovation and a complete redefinition of the entire business,” said CEO Carlos Tavares. “We are taking important steps in Argentina and Brazil, with the aim of decarbonizing mobility and ensuring strategic supplies of raw materials necessary for the success of the company’s global electrification plans.”

Copper is a strategic raw material for the future of electric mobility, and it is estimated that global demand for the conductive metal will triple in the coming years.

Stellantis said that by making this investment in one of the top 10 international projects in development of this commodity, the company will be able to supply some of the projected copper demand starting in 2027.

Stellantis is one of the world's leading automakers and a mobility provider. Its brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.

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LONG TERM= UPTREND now to $10... maybe $15

MUX : 10yr: Ytd: 10d / Last: $7.88( Range: 2.81 to 8.80 )

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MUX is way behind UGL and GDX  

MUX / McEwen Mng : 2021: 2022: Ytd: 10d /

3/27: $8.00 / gdx: $31.52= r-25.4% / ugl: $62.21= r-12.9%
11/11: $5.17 / gdx: $28.30= r-18.3% / ugl: $52.63= r-9.82%

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MUX hits $8.88... +0.41, $4.84% ( Range: 2.81 to 8.92 )

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GOOD GRADES!  But the market is not fully agreeing

McEwen Copper: Los Azules ¢ € “ New Assay Results

2023-04-05  News Release

Significant Infill Intercepts
0.50% Cu over 502 m, including 0.87% Cu over 172 m (AZ22181)
1.00% Cu over 282 m, including 1.40% Cu over 172 m (AZ22186)
0.66% Cu over 500 m, including 0.92% Cu over 276 m (AZ22184A)

TORONTO, April 05, 2023 (GLOBE NEWSWIRE) -- McEwen Copper Inc., 52%-owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to report the latest assay results from Los Azules, where an ongoing drilling program continues to deliver consistent infill results. Located in San Juan, Argentina, the Los Azules Project has many features comparable to world-class copper-gold deposits in South America, including a thick blanket of higher-grade Enriched (or Supergene) mineralization.

Highlights

  • Hole AZ22183 returned an Enriched zone intercept of 0.87% Cu over 152 m (est. true thickness) which expands mineralization from adjacent high-grade results drilled in prior programs (Figure 1 and 2).
  • In hole AZ22184A, an Enriched zone interval grading 0.92% Cu over 276 m (est. true thickness) occurs in a hydrothermal magmatic breccia within the core of the deposit (Figure 3). This breccia unit acts as a conduit for mineralizing fluids, sometimes forming higher grades within the broader porphyry mineralization at Los Azules.
  • Hole AZ22181 returned an Enriched zone intercept of 0.87% Cu over 172 m (est. true thickness) and fills a gap between high-grade holes drilled earlier in 2022 (Figure 4).
  • Hole AZ22186 includes an interval grading 1.00% Cu over 282 m (true thickness of 247 m) in the Enriched zone nearby a historic high-grade- intercept (Figure 5).

“We have four different drilling contractors with 13 drills turning,” commented Michael Meding, Vice President and General Manager of McEwen Copper. “This initiative also involves training and optimizing the entire value chain, with the significant engagement of local suppliers and services.”

After resuming the exploration program in October 2022, drilling has now reached the 25,000 meters initially planned and will continue until the end of the field season. Key objectives of the program include:

...> https://www.stockwatch.com/News/Item/U-z8802415-U!MUX-20230405/U/MUX

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HIT MY $10 TARGET today.  Sold some above $9.90

MUX / McEwen Mng : 2021: 2022: Ytd: 10d / updated: 5.19

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OLD, nailed $10 target

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MUX hit $10, despite this supposed "bad" news RECENT

McEwen Copper Down 1.6% In US Pre-Mkt As Reports Assay Results From Los Azules Project

06:49 AM EDT, 04/05/2023 (MT Newswires) -- McEwen Copper Inc., which is 52% owned by McEwen Mining Inc. (MUX.NaE) , on Wednesday reported assay results from the Los Azules project in Argentina.

The company at last look fell 1.6% in US pre-market trading on Wednesday.

Highlights of the results include 0.50% copper over 502 meters, 1% Cu over 282 meters and 0.66% Cu over 500 meters.

Refinitiv/Verus resumes coverage for MCEWEN MINING ORD SHS with SELL recommendation.

Investars Analyst Actions - public

On April 10, 2023 Refinitiv/Verus resumed coverage for MCEWEN MINING ORD SHS with a SELL recommendation.

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( If thru $10 soon, next stop might be $15... )

/ per above /

LONG TERM= UPTREND now to $10... maybe $15

MUX : 10yr: Ytd: 10d / Last: $7.88( Range: 2.81 to 8.80 )

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MUX : Last: $7.73 -0.37, -3.38%

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Jan'22: MUX: $7.73 / Cu-xx= xx / FCX-yy= yy

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===

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Compare MUX w/ Copper, etc (Now re-rated to > 200% Cu, > 20% FCX? )

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MUX as % ($8.02): fr.2023: 10d: vs: Cu:($3.69, 217%), FCX:($35.90, 22.3%),GM:($32.72, 24.5%)

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: MUX as % ($8.02)

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> 20% FCX?

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Copper rebounds on optimism over US debt talks

Reuters |

LONDON, May 19 (Reuters) - Copper prices rebounded on Friday on hopes that U.S. politicians will seal a deal to avert a debt default and as investors adjusted positions ahead of the weekend.

Zinc price could hit $2,000/T by 2025 on ballooning surplus

* Global refined zinc output seen adding 1.3 mln tonnes in 5 years

* Chinese zinc smelters are running at almost 100% operation rate

* Refined lead market will switch to a surplus next year

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MUX RALLY, and pullback: $7.69 -0.46, - 5.64%

"Recovery starting?"

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MUX vs.GOLD: $7.19 / $16.93: R-42.5%

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reverse: Mux vs.Gold:

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MUX-etc. from 2021:

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Predictable Turns:  MUX-to-FCX: $7.19/$40.00: R-18.0%, H:25.9%

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===

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MUX-etc ... update: Last: $8.84 / cu-$3.82= r-231%: Flip:

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Copper ... 3yrW:  Last: $3.82,  12 mos., Range: $3.243 to $4.355

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MUX-to-Copper: $8.84 / cu-$3.82= r-231%: H: 240.7%

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 MUX may follow FCX Higher, after FCX's reversal today

MUX: o: $7.41 H: $7.60, L: $7.24, Cl.: 7.51. +0.01, Vol.; 275.2k
FCX : o: 41.15, H: 42.76, L: 40.71, Cl.: 42.69. +0.85%, Vol.; 10.58M

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ss

McEwen Mining expects to achieve its 2023 guidance with strong gold production in October-November

According to the company, as a result of the strong performance at Gold Bar, partially offset by slightly lower production at Fox and San José, its forecast for the full year 2023 is now estimated at 154,200 GEOs, at the lower end of its 2023 guidance of 150,000-170,000 GEOs.

Importantly, McEwen said that its monthly production is projected to remain “strong” in December and into Q1 2024.

“The additional production from Gold Bar, combined with the announced flow-through equity financing for Fox exploration and development, puts us in a good financial position to enter 2024. Our focus is on driving continued operational improvements and growth projects across the organization,” commented Rob McEwen, Chairman and Chief Owner.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns approximately 47.7% of McEwen Copper which owns the large, advanced stage Los Azules copper project in Argentina.

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MUX is cheap, as we head into Jan Option expiry week

MUX, 2023: $6.73 +2.3% /UGL ($62.55 +1.8%) =10.8%, GDX (29.70, +2.8%), CU ($3.74)

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Ratio1 $6.73 /UGL ($62.55) =10.76%

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Ratio2: $6.73 /Copper ($3.74) =1.80x

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COPPER, Last $3.74

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Copper toGold: Last 0.182%

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McEwen Mining, Buenaventura Report Financial Results; Royal Gold Declares A Dividend And More: Friday's Top Mining Stories

BENZINGA
4:32 PM ET Mar-01-2024

Top Stories for Mar. 1, 2024:

1. McEwen Mining Inc. (MUX.NaE) reported fourth-quarter and full-year 2023 financial results on Friday.

In the fourth quarter, net income was $137.9 million ($2.88 per share) compared to a net loss of $37.4 million ($0.79 per share) for Q4 2022.

As a result of improvements in mining productivity, the company achieved daily, monthly, and quarterly production records, while the Fox Complex achieved the highest average daily mill throughput of 1,300 tons per day.

For the year, the company reported a net income of $54.7 million ($1.15 per share) compared to a loss of $81.1 million ($1.71 per share) in 2022.

Gold production at its Fox Complex and Gold Bar mine were just above the low end of guidance, while the San José mine was just below and cash costs and all-in sustaining costs were 12-18% higher than guided.

Following the October 2023 financing, McEwen Mining (MUX.NaE)'s stake in McEwen Copper dropped to 47.7%, shifting its accounting to equity investment, resulting in a $224 million gain and a $384 million investment valuation.

2. Peru's largest publicly traded precious metals miner, Compañia de Minas Buenaventura S.A.A. announced... 

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3. Royal Gold, Inc. (RGLD.NaE) announced its board of directors declared a second-quarter dividend of 40 cents per share.

The dividend will be distributed on Friday, April 19, 2024, to shareholders as of the close of business on Friday, April 5, 2024.

4. HC Wainwright & Co. analyst Heiko Ihle reiterated U.S. Gold Corp (USAU.NaE) with a Buy and maintained a price target of $11.

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MUX peaks when it catches UGL...

MUX /McEwen: 47.4M sh x$5.17>8.10= $245M>$384M .. BkVal. $7.59 /sh.

MUX-etc Feb/'22: $8.10+0.29 /UGL: 66.90=12.1% /Copper-3.846=211%

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MUX as % fr.2023: 10d: vs: Cu:

3/05/24: (8.10/3.846= 211%), FCX:($37.12, 21.8%),GM:($40.65, 19.9%)

5/22/23: (8.02/3.690= 217%) FCX:($35.90,22.3%),GM:($32.72, 24.5%)

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2016: 2022: 2yr: Ytd: 10d / $5.17 2022 range (2.81 to 11.80)

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Edited  by webmaster

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