Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
YPF case: Argentina ordered to reveal location of Central Bank gold
JANUARY 15, 2025
New York Judge Loretta Preska has ordered Argentina to hand over information on the Central Bank’s gold reserves per a request filed by hedge fund Burford Capital in October. The discovery order is the latest in the saga of a US$16.1 billion lawsuit it won against the country in 2023 for the expropriation of energy company YPF.
Argentina’s assets are being probed for potential seizure by the Southern District Court of New York to partly pay for the lawsuit. In a letter to Judge Preska, Burford quoted newspaper articles from last July reporting that Economy Minister Luis Caputo confirmed that the Central Bank had moved some of its gold overseas, which certain media outlets claimed would be used for a repo. The government did not provide further information on the matter.
Last week, Argentina wrote a letter to Preska arguing that the Central Bank and the Republic are legally separate entities, meaning that the gold reserves do not belong to the government and their details are confidential. The country, represented by the Sullivan & Cromwell law firm, also said that the Central Bank’s reserves “enjoy special protection from execution under [United States’ Foreign Sovereign Immunities Act] and UK law.”
In her order, Preska countered that “regardless of whether the gold reserves are held by [the Central Bank], the Republic shall produce its own documents concerning the reserves.”
The judge further demanded information on government accounts held in the country and overseas, as well as evidence from a separate lawsuit in order to “trace the Republic’s assets.”
On the one hand, Preska argued that Argentina should hand over SWIFT data on its accounts overseas instead of the account summaries it has already provided. She described them as “inadequate substitutes, given they do not identify the counterparty’s specific banking institutions making or receiving payments.”
On the other, the judge called for documents produced in the lawsuit the Bahamas-based Bainbridge Fund won against Argentina in 2023 for US$95 million of debt securities defaulted in 2001. Preska said the evidence could “lead to other executable assets.”
Argentina argued that the data would not lead to assets it could hand over in this case, but Preska argued that Burford was “entitled to request the information” regardless.
“The Republic does not get to just assert that such information ‘could not possibly lead to executable assets,’” Preska wrote. “The Court notes that it has likely taken more time and money to argue about producing these documents than to make the production.”
A spokesperson for the Treasury’s Prosecution Office declined to comment on the defense’s next steps.
https://buenosairesherald.com/economics/ypf-case-argentina-ordered-to-reveal-location-of-central-bank-gold
Has the World figured out U.S.Market Rigging
LFTV' panelists agree that the world has figured out U.S. market rigging
Submitted by admin on Sat, 2025-01-18 09:12 Section: Daily Dispatches
9:10a ET Saturday, January 18, 2025
Dear Friend of GATA and Gold:
Kinesis Money's "Live from the Vault" program with London metals trader Andrew Maguire is an excellent discussion with metals market experts Andy Schectman, Craig Hemke, and Robert Kientz about the prospects for the monetary metals in the new year.
The participants agree that the rest of the world has caught on to the market rigging and commodity price suppression implemented with derivatives by the U.S. government and is preparing for a new international financial system in which gold and silver are liberated and the dollar subjugated.
The program is 72 minutes long and can be viewed at YouTube here:
Roger that loud n clear!
When you own both sides of the trade
You can never lose !
Signed
Van Blackie
McEwen Mining Inc (NYSE:MUX) Shares Sold by State Street Corp
Posted by Defense World Staff on Dec 27th, 2024
McEwen Mining logoState Street Corp reduced its holdings in shares of McEwen Mining Inc (NYSE:MUX – Free Report) (TSE:MUX) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,119,821 shares of the basic materials company’s stock after selling 221,114 shares during the quarter. State Street Corp owned 2.12% of McEwen Mining worth $10,414,000 as of its most recent SEC filing.
Continues here good report>>> https://www.defenseworld.net/2024/12/27/mcewen-mining-inc-nysemux-shares-sold-by-state-street-corp.html
Isn't Statestreet Van Blackies largest shareholder Like Blackie is Vans largest shareholder Like Vans is Blackies largest shareholder
Mining CEO's need to get together and have a summit and put some kind of 50% moratorium on selling their gold until the banksters stop their predator selling ways imo
Don't Blame It On The Miners
Isn't mining corporations letting banks own most of their stock part of the problem.
They have stolen the value out of the entire mining sector the past 8 years.
I found most of that interview just using mining as the blame game.
Their wrong about people not liking mining.
Mining is in my family blood and part of us and we're pretty damn good at it too.
People love mining and the metals that come out of them.
What people hate about mining is that their investment is controlled by Banksters
Mining corporations major investors (institutionals) are forbidden to be discussed in any mining news reel .
If mining CEO's were really interested in accountability they would sue Van Blackie and friends for manipulation of their stock forcing a loss of value in their shareprices.
for the past 8 years
Video: How innovation and accountability could help green gold portfolios
Northern Miner Staff | December 31, 2024 |
TNM Podcast Host Adrian Pocobelli (L) in conversation with chief owner of McEwen Mining, Rob McEwen; founder of Rule Investment Media, Rick Rule; Synergy Capital partner Gonzalo Waldman; and Lowell Resources Fund CIO John Forwood. Credit: Martina Lang
https://www.mining.com/video-how-innovation-and-accountability-could-help-green-gold-portfolios/
Mog’s Christmas Calamity
Merry Christmas, everyone !
You're welcome
Nice Catch surfer44 ! Thanks man ~
Please Cool it with other companies ticker symbols
Use their name if you have to prove a point but don't pump them either.
....
May 9th 2016 Barrick was the same price as it is today
their longs never made a dime the past 10 years
McEwen Mining: IPO of McEwen Copper in 2025 with Huge Copper Project in Argentina
Dec 12, 2024 #Copper #Kupfer #Gold
Interview with Chairman & Chief Owner Rob McEwen at Mines and Money 2024 in London. McEwen Mining is a gold producer with several gold mines in North America. The company's major next project is called Los Azules and is a huge copper project in Argentina that already has a remarkable PEA and belongs to the private company McEwen Copper. Find out about the ownership structure and Rob McEwen's plans for 2025 in the interview.
$MUX
Looks like nothing but “smash n grabs” in the gold and silver space.
“ What were not seeing is the
entire mining complex breaking out of a hard ten year slide which has largely stalled presently.”
Not breaking out hard with $2,700 oz gold and $31 silver? A couple of things I see is a younger generation yet to attach to gold and focusing more on “sexy” show me now stocks and more over crypto. “Gold stocks are what my grampa invests in.” Lol
Might take a major “earthquake” in the stock market or economy to bring about a more traditional corrective view on “safe haven” investments.
What were seeing is the normal tax-loss selling that happens this time of the year
and what they call short term overextended selling IMO
This will pass.
What were not seeing is the
entire mining complex breaking out of a hard ten year slide which has largely stalled presently.
Rob McEwen - These Commodities Will Be On Everyone's Radar
Dec 1, 2024 #Wealthprotection #Singapore #Wealthpreservation
Rob McEwen from McEwen Mining joins Patrick Vierra in a chat about the economy, precious metals, the health of the miners, and the challenges they face. Regulations, nationalization and demand outpacing supply are just some of the topics discussed as these are but some of the challenges miners face. Opportunities are here.
Saddened by Kidd mine news? McEwen Mining sees new gold production over the horizon
Toronto gold company drilling off Grey Fox deposit with bump in resources expected in early 2025
Ian Ross | Northern Ontario
McEwen Mining's Fox ComplexMcEwen Mining photo
While Glencore’s Kidd base metals mine is slated for closure in two years time, the legendary Timmins camp is far from finished when it comes gold mining longevity.
McEwen Mining is excited by a new prospect in its gold mining stable at the Fox Complex, east of the city, that contains a new and emerging deposit dubbed Grey Fox.
In releasing a raft of high-grade assay results this week, the Toronto gold company framed the ongoing exploration program at Grey Fox as opening up “new possibilities for resource and production growth” in what is already a very prolific mining area for McEwen.
The company boldly compares the geology at Grey Fox to the Hishikari Gold Mine in Japan, one of the world’s richest gold mines that’s produced 8.6 million ounces of gold at an average grade of 30 to 40 grams per tonne since 1985.
At the Fox Complex, McEwen has three main properties — Black Fox, Stock and Lexam — situated along Highway 101 and around the town of Matheson.
Black Fox, 11 kilometres east of Matheson, is an integral piece of the company’s production in containing the Black Fox and Froome mines with two mines-in-waiting in Grey Fox and Tamarack.
As an area of intense interest for McEwen, Grey Fox is situated on the southern part of the Black Fox property with six gold zones mapped out, including Whiskey Jack where those drilling results originated from. One drill hole, spotlighted in a Dec. 2 news release, yielded 10.2 grams per tonne of gold over an 11-metre section.
Currently, Grey Fox has a gold resource of 1.4 million ounces of gold in the indicated and inferred categories. McEwen maintains that more than 90 per cent of that resource sits within 300 metres of surface.
These latest drill results will be folded into an upcoming new mineral resource for Grey Fox and the entire Fox Complex, due out sometime in early 2025.
Come January, expect a new exploration push at Grey Fox. Armed with a $9.7-million budget, the plan is to punch almost 70,000 metres worth of drill holes.
McEwen said it wants to determine if there are near-term gold mining possibilities while it probes into some previously untouched areas in order to develop a better geological model of the deposit.
The company’s currently modelling of Grey Fox shows the presence of more than 50 distinct gold mineralized lenses — a body of ore that’s thick in the middle and thin at the edges — in an area of about 1.3 square kilometres, with many of those features extending near surface.
In a statement, chairman and chief owner Rob McEwen is enthusiastic about the potential at Grey Fox.
“Our investment in exploration at Grey Fox, in the southern portion of the Black Fox property, is generating an exciting future for two specific reasons," he said.
"Firstly, our team is focused on drilling to add gold ounces into our production pipeline. Secondly, we are impressed by the depth potential.
"There are two styles of gold mineralization, epithermal veining and orogenic lenses, both gold-rich at the top of the systems. Based on our past and recent drilling, it appears that the Fox Complex has the opportunity to expand its production profile, and the depth potential is still wide open.”
https://www.northernontariobusiness.com/industry-news/mining/saddened-by-kidd-mine-news-mcewen-mining-sees-new-gold-production-over-the-horizon-9905316
Yes has to be some kind of world record Fast Track operations going on.
Oh Baby these guys are serious about that red metal...
Many BIG moves poised and ready to be made in this world class chess game
Increasing my position
Looking forward to 2025 mining trend change
I'm watching the $VIX closely
Whats happening in other countries with mass layoffs will eventually make it's way to the US.
The stock market is heading for a major correction theirs noway out of it imo
Then we will see the mining trend change
Just a matter of time
The market seems to be anticipating good news for MUX, since percentage-wise it's up substantially more today than the miner-market as a whole
Up almost 10% as I'm typing this
McEwen Copper Secures Environmental Permit for Construction and Operation of Los Azules
December 3, 2024
Download this Press Release PDF Format (opens in new window)
TORONTO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce the approval of the Environmental Impact Assessment (EIA) for its Los Azules copper project. The Environmental Impact Statement (EIS), which is the ministerial resolution approving the EIA, is a key permitting milestone on the way to feasibility, construction and future operation.
This EIS, which is issued by the San Juan Provincial Government's Ministry of Mines, highlights the support for copper mining in the pro-mining province of San Juan.
Since submitting the EIA documentation in April 2023, which was compiled by the international engineering and consulting company Knight Piesold and supported by 22 subject matter experts from San Juan, the Ministry of Mining and 14 public and private institutions comprising the Evaluation Committee have thoroughly reviewed over three thousand pages of the EIA and included a process of public consultation and a site visit to the project. This rigorous process ensures the project's environmental viability and establishes a solid foundation for responsible development.
Completing the evaluation process required significant work from our internal team and specialized consultants. McEwen Copper extends its sincere gratitude to everyone whose collaboration has been essential to meeting the highest technical and environmental standards. We look forward to their continued partnership in the following stages of the project.
Robert McEwen, CEO and Founder of McEwen Mining stated: "Our commitment to modern, sustainable, and regenerative mining practices at Los Azules is reflected in our PEA and EIA, and we continue this work through our upcoming definitive feasibility study. We thank the 14 institutions for their work, whose efforts helped secure this key environmental permit."
Michael Meding, Vice President and GM of McEwen Copper and General Manager of the Los Azules Project, added: "This milestone propels Los Azules forward and highlights its transformative potential for the province and Argentina's mining industry. As we advance, sustainability and community engagement will remain at the heart of our project development."
Strengthening Community Partnerships and Sustainability Commitments
Los Azules has built a strong partnership with the Calingasta community, fostering mutual trust and collaboration. McEwen Copper reaffirms its commitment to sustainable regional development by incorporating local perspectives. Los Azules distinguishes itself through its focus on sustainability. The project is designed to operate on renewable electric energy and achieve carbon neutrality by 2038. Its innovative process design ensures one of the lowest water footprints in the mining sector, aligning with international best practices; Los Azules aims for excellence in environmental stewardship.
Next Steps: Toward Feasibility and Construction
With the EIA approval in place, Los Azules is advancing towards publishing a definitive feasibility study, expected in the first half of 2025, with the potential start of construction as early as 2026, further strengthening McEwen Copper's position on the forefront of sustainable mining and as an important driver of economic and social development in San Juan.
https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2024/McEwen-Copper-Secures-Environmental-Permit-for-Construction-and-Operation-of-Los-Azules/default.aspx
https://finance.yahoo.com/news/mcewen-mining-grey-fox-exploration-121500543.html
McEwen Mining: Grey Fox Exploration Update - Exploration Has Opened Up New Possibilities For Resource and Production Growth
VIDEO: Rob McEwen, maverick mining legend & green copper visionary
MINING.com Editor | November 29, 2024 | 2:25 pm
https://www.mining.com/video-rob-mcewen-maverick-mining-legend-green-copper-visionary/
McEwen Copper seeks $2.5bn for Los Azules project in Argentina
Reuters | November 28, 2024
https://www.mining.com/web/mcewen-copper-seeks-2-5bn-for-los-azules-project-in-argentina/
Mining’s old guard needs strong medicine
Good one here Tred thanks man
https://www.mining.com/minings-old-guard-needs-strong-medicine/
JD I dont believe all energy efficiencies MUX has designed are bad. Grow your own food, smart. Use solar where its applicable, smart. Recycle water, check!
What doesnt make sense is when you use more energy than your saving from battery implementation and increasing solar panel jobs in China.
A funny note about Tesla car battery chargers is we had new Costco built near us and they used CNG ran motors, underground, to lower the chargers. Lol
As for DEI, shut that switch completely off. Hire who is best fit to fill the job role.
Mux should put Los Azules under care and maintenance
Trump and Miley has turned off global warming like a light switch.
Turning L.A. into a joke.
They should put the money into expanding the Fox complex
Not saying I believe it, but: https://www.nasdaq.com/articles/mcewen-mining-mux-price-target-increased-by-6.25-to-19.56
What ever happened to todays 8.92
What is that.......
""""KILL THE NEWCOMERS"""""