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McEwen Mining: 2023 Production and Guidance for 2024
https://finance.yahoo.com/news/mcewen-mining-2023-production-guidance-210000695.html
Thanks. Good information. I am looking forward to the Q Report.
Argentina lawmakers debate Milei’s ‘omnibus’ economic reform bill
Opposition has pledged to block the president’s mega-bill to reform the economy, politics and even some aspects of private life.
https://www.aljazeera.com/news/2024/1/31/argentina-lawmakers-debate-mileis-omnibus-economic-reform-bill
$MUX Rob McEwen seeks $100 million for Argentina copper mine as Milei boosts prospects
Bloomberg News | January 30, 2024 | 10:19 am Top Companies Latin America Copper
McEwen lines up copper partner as surging prices spur interest
Canadian entrepreneur Rob McEwen is in talks to raise about $100 million for a copper project in Argentina, at a time when miners are betting that deregulation by the new government of Javier Milei will boost prospects for the industry.
His closely-held firm, McEwen Copper Inc., is speaking with existing holders — which include automaker Stellantis NV and a Rio Tinto Group venture — as well as prospective new investors, he said in an interview. The idea is to secure fresh funds within six months for feasibility and engineering work. Longer-term options include partnering with a major mining company.
SIGN UP FOR THE COPPER DIGEST
“We’re socializing the concept,” McEwen said Monday. “Just getting in front of a lot of people who finance large projects, not only for our immediate needs but for the longer term.”
The industry veteran who founded Goldcorp Inc. is hoping President Milei’s efforts to free up Argentina’s tightly controlled economy will help unlock vast copper deposits in San Juan province. That’s where McEwen wants to build the $2.5 billion Los Azules mine that would start up toward the end of the decade, when demand for the wiring metal is expected to accelerate in the shift away from fossil fuels.
Milei, a libertarian who took office on Dec. 10, wants to cut red tape as well as do away with customs and capital restrictions. If he can win over congressional opposition, such changes would reduce risks for investors, who remain optimistic yet cautious, McEwen said. The challenge for Milei is to move swiftly because metal markets are cyclical and financing windows can shut quickly, he said.
Los Azules isn’t waiting around for change. It already has 21 drill rigs on site, and it’s working on a renewable-energy supply deal from YPF Luz and a leaching method that would help it to be carbon neutral. It hopes to obtain an environmental permit this year, have a feasibility study ready in early 2025 and do pre-construction work from 2026, Michael Meding, who heads McEwen Copper, said in the same interview.
McEwen’s copper unit had planned to go public, but it’s now focusing on raising money privately since market conditions aren’t ripe for an IPO, McEwen said. He and Meding recognized that the investment climate for mining generally is tough, but said that tax incentives proposed for large Argentine infrastructure projects in Milei’s signature legislation could help lure partners.
“We think that we would classify as a large-scale infrastructure project and that would generate additional taxation stability,” Meding said. “And that would be very helpful in future financing discussions with the international community.”
(By James Attwood and Jonathan Gilbert)
https://www.mining.com/web/rob-mcewen-seeks-100-million-for-argentina-copper-mine-as-milei-boosts-prospects/
6.88 buying here for a quick buck
again......
Obviously $MUX has bottomed out
2023 Mining World was pulled in all directions [
The biggest global mining news of 2023
with MMGYS Soundtrack
What’s bleeding the junior market dry: Predatory short-selling.
Can beaten-up junior miners fight illegal short-selling?
with MMGYS Soundtrack
Alisha Hiyate | December 22, 2023 | 7:33 am Careers Education Markets Canada
Terry Lynch began to notice unusual price movements in Power Nickel (TSXV: PNPN; US-OTC: PNPNF)’s stock (then called Chilean Metals) years ago.
The shares consistently traded down at the end of the day, regardless of news, with late day trades often made anonymously.
Now the stock is stuck in a range of C25¢ to C30¢ — despite a recently released initial nickel-sulphide resource for the company’s optioned Nisk project in Quebec, and a staged deal with battery and defence supplier CVMR to fund engineering studies.
It’s not unusual for a junior mining CEO to be unhappy with his share price, but Lynch says Power Nickel isn’t alone and something is amiss in the junior sector. The disconnect between the commodity markets and the junior mining-heavy TSX Venture Index, which is at an all-time low, has reached its widest point.
“When I first started talking about this, people thought, Terry, you should have a tinfoil hat on your head. They thought I was a crazy conspiracy theorist,” he told The Northern Miner in early December. “But you know what? I got proof. Man, this is really happening and I’m not the only one that sees it.”
In search of answers to the sector’s woes, he formed the Save Canadian Mining group in 2019, recruiting big names like Eric Sprott, Rob McEwen and Sean Roosen as supporters. Now, he can point to exactly what’s bleeding the junior market dry: Predatory short-selling.
“We’re in a market where the governments, to their credit, federally and provincially, have put out some amazing incentives for miners to actually get out there and explore and develop mines,” he said. “So really, we should be in our glory years and we’re instead about to go extinct.”
Short selling is a legal way for traders to profit from a falling stock price. Traders sell borrowed shares in the hope of buying them on the market at a lower price. It serves an important function in helping the market discover the true value of a company’s shares and has even helped uncover frauds like Enron. But it can also be done illegally, if traders don’t “cover” their position — meaning the trader is selling shares they haven’t borrowed, located, or confirmed are available for them to buy.
Lynch and others say “naked” shorting is a widespread and destructive problem in the junior mining sector. Last week he filed a formal complaint with the Canadian Investment Regulatory Organization (CIRO) and FINRA (Financial Industry Regulatory Authority) in the United States asking them to act on illegal short selling and restore investor confidence in the market.
‘Neverending bear market’
Any sector with declining values will attract short selling, which plays an important role in ensuring overvalued stocks don’t stay that way.
But veteran junior mining investors say that the removal of the “tick test” restrictions on short selling in 2012 have unleashed algorithmic trading programs onto the market that prey on both companies and retail investors. The “tick test” or uptick rule only allowed short sales at a price that was higher than the last sales price of a security.
Often this activity happens in the shadows, in places only institutions like banks and their clients can access, said long-time junior mining analyst John Kaiser of Kaiser Research Online.
“Banks and professional traders are selling stock they don’t even have a means to borrow,” he said in December. “With no downtick rule to get in the way, they just lean into the bid and then everybody’s who’s been a ‘long,’ they get this feeling of despair and they sell.”
Kaiser said these traders take advantage of the share volume rise that happens when companies release news, depressing any rallies.
Any new investors are left with nothing but buyers’ regret — and juniors are stuck in a “neverending” bear market.
Kaiser said a lot of this trading must be predatory because junior mining stock is not easy to borrow.
“None of it’s high enough to be marginable and margin accounts probably don’t own this sort of stuff,” he said. And large shareholders aren’t likely to make stock available to short-sellers.
“Properly covered short selling, if that was enforced, would not be that big a problem.”
Meanwhile, junior mining CEOs, many of whom are geologists with a distaste for or lack of knowledge of the capital markets, have proven hapless and helpless.
John Feneck, an Arizona-based technical analyst and consultant who helps mining companies raise their profiles, said many CEOs believe they can let their drill results speak for themselves. But that hasn’t been the case for the last couple of years.
“Our sector is really thinly traded,” he explained in a phone interview in early December. “Certain stocks are susceptible to larger moves based on their daily trading volume – many trade less than 100,000 shares a day.”
Feneck said better disclosure could help market transparency. He notes that in the U.S., FINRA requires short-selling information to be reported only twice a month. The long gap allows for potentially deceptive activities to take place.
“It’s whatever happens between those reports that’s frustrating people,” he said.
What are the regulators doing?
Regulators have looked at the issue of naked short-selling many times over the past decade. But they’ve found scant evidence that there’s a widespread problem.
In August 2022, CIRO predecessor IIROC did clarify that naked short selling is in fact illegal in Canada. Guidance issued at the time stated that entering into a short order without “reasonable expectation” the trader will be able to access enough securities to settle it within two trading days is prohibited, and considered manipulative and deceptive behaviour.
CIRO’s latest review concluded in November without recommending any regulatory changes.
But it does expect to publish new proposals outlining how it can further “clarify and support” the reasonable expectation requirement in early 2024.
Finally, CIRO and the Canadian Securities Administrators are forming a working group early in the year to study short selling in Canada, including an analysis of stronger requirements to settle trades when they’re due. It will also look more closely at suggestions raised in the previous consultation, including the imposition of “pre-borrow” requirements before a short sale can be entered, and whether short selling of junior stocks should be treated differently. In a response to emailed questions, a CIRO spokesperson confirmed there would also be discussion around suggestions it received to bring back the tick test.
Investor protection momentum
In early 2023, several small-cap companies in the U.S. announced plans to take legal action against short-sellers targeting their stocks.
In November, South Korea placed a temporary ban on short selling until next June. The move was supported by the country’s powerful lobby of retail investors, who believe big banks are suppressing share values through short selling. Over a quarter of the nation’s population invest in the stock market.
And in September, a judge in the Harrington Global Opportunity Fund market manipulation case against CIBC and big banks in the U.S. denied the defendants’ motion to dismiss the case. In her decision, she found that banks and brokerage firms can be held liable for their clients’ illegal trading, if they fail to provide proper oversight.
Banks have previously argued that they’re not responsible for clients’ illegal trading.
Lynch is encouraged by the momentum.
During an “emergency” Save Canadian Mining virtual event in late November, Sprott exhorted junior executives to take action to protect their share prices. “CEOs must realize almost everyone’s working against you,” he said. “If the price sucks, why don’t you wake up and do something about it!”
While Lynch doesn’t want to take the banks to court, he wants to let them know industry is willing to go that far.
“Nobody wants to really fight them, but we need to show them, hey, we’ve got the evidence,” he said. “The banks and the regulators, once they decide they want to do something, they can move very swiftly. They can change all these rules overnight.”
That could usher in the biggest mining boom in human history, he posited.
To the banks, he offers this message:
“The money on the shorting side of this business is almost done. You’ve almost killed us. You need to invest in the long side, and then everyone’s gonna make out like crazy.”
https://www.mining.com/can-beaten-up-junior-miners-fight-illegal-short-selling/
Mog’s Christmas Calamity
Merry Christmas
$MUX
Pulling back the curtain on the global trade of precious metals and debate what drives the industry forward.
Gold doesn’t follow, it leads Feat. Michael Oliver - LFTV Ep 154
Kinesis Money
Dec 22, 2023
In this year’s final episode of Live from the Vault, Andrew Maguire is joined by Michael Oliver, creator of Momentum Structural Analysis, to pull back the curtain on the global trade of precious metals and debate what drives the industry forward.
The experts discuss the Fed’s interest rate policy decisions and a prospective pivot to rate cuts in 2024, before analysing how precious metals stand strong while the integrity of the US government bond market hangs in the balance.
FOUR STAGES OF A MAN'S LIFE
1. You believe in Santa.
2. You don't believe in Santa.
3. You are Santa.
4. You look like Santa.
$MUX
Thanks wshaw14 Happy Holidays and Merry Christmas to you and all the Gals and Gents here
and from all of us on the McEwen Mining board
Happy Holidays and Merry Christmas
May 2024 be our year and
Happy New Year to all
..................Go $MUX.................
...........Go Green...............................
.....Go McEwen Copper........................
♥️😄💯
Thanks. Very insightful video.
McEwen pours $22 million into Timmins-area exploration, mine development
https://www.timminstoday.com/local-news/mcewen-pours-22-million-into-timmins-area-exploration-mine-development-8002564
Rob McEwen: To me, these are opportune times
GOLDINVEST
Premiered 22 hours ago #robmcewen #mining #miningstocks
In this extensive Goldinvest.de interview with mining legend, Goldcorp founder, and McEwen Mining CEO Rob McEwen we talk about the state of the (gold) mining industry and the need for changes in the sector to be able to attract sufficient funding going forward, to continue fulfilling its essential role in modern society.
Rob also tells us, why he is investing in the junior mining / exploration space and we talk about two interesting companies in particular that we at Goldinvest.de are following, too.
Was gold price spike a warning shot? - LFTV Ep 153
Kinesis Money
Dec 15, 2023
In this week’s episode of Live from the Vault, Andrew Maguire answers the audience’s burning questions, shining light on the recent gold price spike and reversal before revealing whether this was a warning shot from the weaponisation he’s been warning us about.
The precious metals expert and whistleblower examines what would happen if the paper market suddenly stopped trading, before taking listeners through what’s driving the ongoing gold and silver price action.
McEwen Mining Appoints a New Director
https://finance.yahoo.com/news/mcewen-mining-appoints-director-214200592.html
Wow we were 6.78 a cup of coffee ago
How I Learned to Stop Worrying and Love the Bubble
with MMGYS Soundtrack
"As a dog returns to its vomit, so a fool returns to his folly. "
Proverbs 26:11
"And in some ways, it creates this false illusion that there are people out there looking out for the interest of taxpayers, the checks and balances that are built into the system are operational, when in fact they're not. And what you're going to see and what we are seeing is it'll be a breakdown of those governmental institutions. And you'll see governments that continue to have policies that feed the interests of -- and I don't want to get clichéd, but the one percent or the .1 percent -- to the detriment of everyone else."
Neil Barofsky, 2012 interview with Bill Moyers
"Now why don't you just take it easy, Group Captain, and please make me a drink of grain alcohol and rainwater, and help yourself to whatever you'd like."
General Jack D. Ripper (Sterling Hayden), Dr. Strangelove
"Where are the leaders? Has our political process become so compromised by powerful interest groups and the threat of character assassination that even the best among us will not dare to speak honestly about the solutions that might bring us back to common sense and fundamental fairness?"
Senator Jim Webb, A Time to Fight, 2008
"General Turgidson, I find this very difficult to understand. I was under the impression that I was the only one in authority to order the use of nuclear weapons."
President Merkin Muffley, Dr. Strangelove
From Wall Street to the White House, it's all about serving the oligarchy, the 1 percent, while maintaing plausible deniability.
The market came in broadly expecting a whipsaw, with the FOMC standing pat with dovish verbiage, and then Jay Powell coming in and raining on the parade with skeptical cautions.
No way Zimbabwe Jay.
Although it must be said that the Street took it much further than he allowed. It reminded me of a college friend who kept seeing 'signs' from a girl for which he pined, but would not actually approach.
I think it would have been interesting to see the FOMC commentary on bubblevision performed by the voice-over actor from The Curse of Oak Island.
Stocks rallied very hard, parabolically surpassing their bubble peaks.
The Dollar dropped off a cliff.
Gold and silver rallied like rockets.
And there is the second phase of the wash and rinse.
VIX did not drop but marked time in place.
Stock option expiration on Friday.
I can feel the hammer getting closer, and closer, to the retail bulls.
But give it some time.
This is not sour grapes. I snagged some serious coin in the miners today, buying them into this recent pounding down the last two days. It was just too contrived and cliché.
Pretty much like all the official 'verbiage' we get these days.
You know how they ran gold up to a new high, ran all the short stops, and then smashed it down into yesterday?
Patented move.
And I think they may have the same play in store for stocks.
But timing and leverage are everything.
Meanwhile, we've got two wars a leaping.
Changed my mind about not using twitter.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
200,000 million is a lot of coin. This must be prepping for the next stages down in Argentina.
$MUX McEwen Mining: Stable Gold Production and Huge Upside with Los Azules Copper Project
Swiss Resource Capital AG
Nov 27, 2023 #Gold #Copper #Kupfer
Interview with Chairman and Chief Owner Rob McEwen at the Precious Metals Summit 2023 in Zurich. McEwen Mining is a gold producer with several mines in North and South America and will reach the guidance of 150,000 ounces in 2023. However, the company's great potential lies in the spun-out copper project McEwen Copper, in which McEwen Mining holds a 47.7% stake and which is one of the largest undeveloped copper projects in the world. McEwen Mining shares bucked the trend, reflecting the company's success with McEwen Copper.
Company overview:
McEwen Mining Inc. https://mcewenmining.com/
Rob McEwen, CEO & Chief Owner of McEwen Mining, presenting at the 2023 Precious Metals Summit Zurich
McEwen Mining
Nov 20, 2023
Thanks Tred Happy Thanksgiving to you and all 😊
McEwen Mining intends to offer 1.9M flow-through units
https://www.msn.com/en-us/money/companies/mcewen-mining-intends-to-offer-19m-flow-through-units/ar-AA1km4T7
Great interview JD. Every time you think you have heard it all from Rob he surprises yet again. I particularly like the concept (after a jewel box or two gets found of course) of yearly, quarterly, monthly dividends. This seems to be a stock one should just buy and plan on giving to their grandkids.
Cheers
How To Build a Multi-Billion-Dollar Enterprise with Mining Titan Rob McEwen
Machai Productions
Nov 9, 2023
Today we sat down with Mining magnate Rob McEwen.
Socials:
/ machaicapital
/ machai-capital
/ machaiproductions
Rob McEwen, is a Canadian businessman. He is the chairman and chief executive officer of McEwen Mining and was the founder and former chairman and chief executive officer of Goldcorp. In January 2019, Goldcorp merged with Newmont creating Newmont Goldcorp Corporation, the second largest gold mining company in the world. McEwen followed his father into the investment industry and also developed a passion for gold. As of 2016 he is one of the top one-hundred wealthiest Canadians, with an estimated personal net worth over $800 million.
Transcript
Follow along using the transcript.
click video for transcript
MCEWEN MINING | Red Cloud's Fall Mining Showcase 2023
Red Cloud TV
3 days ago
Rob McEwen, Chairman & Chief Owner, Stefan Spears, V.P. Corporate Development, McEwen Mining joined us at Red Cloud's Fall Mining Showcase 2023, brought to you by Red Cloud Financial Services.
Im not sure if it will have some more attractions but if Rob would announce some of those “jewel boxes” the interviewer mentioned in the podcast that would be most excellente!
Need something to make this a game changer and have a breakout.
Wonder if Los Azules jewel city with hotel will have some other major attractions like the Cresta run.
Hey they got the ice ! hehe
The Cresta Run 125th Anniversary Film
I think thats Rob in green skeleton suit at 2:42 ish mark haha
$MUX
Nice interview. Amazing with all that is going on, rather quickly, in the Middle East how gold is able to maintain a price per ounce below $2,000 on a trillion dollar annual U.S. debt servicing. Its almost as believable as those, which Rob briefly touches on, that believe they can control the climate in the world.
Truth is truth and I believe there is a lot of manufactured half truths floating around.
Rob McEwen Discusses Mining And McEwen Mining
RocksAndStocksNews
Nov 10, 2023
Rob McEwen has had a stellar career in mining, in this interview he shares his insights into what the mining industry needs and efforts they are making at McEwen Mining to be a leader of change.
McEwen Mining shares jump despite Q3 loss
Staff Writer | November 9, 2023 | 9:17 am Markets Canada Copper Gold
McEwen Mining NYSE: MUX) (TSX: $MUX)shares are lifting off despite reporting on Wednesday a loss of C$18.5 million in the third quarter of 2023.
The Toronto-based company said it had a loss of C$0.39 per share, versus the Zacks Consensus Estimate of a loss of C$0.77. This compares to loss of C$0.21 per share a year ago.
The gold and silver mining company posted revenue of C$38.4 million in the period.
According to the miner, consolidated gold equivalent ounce (GEO) production in Q3 improved by 8% compared to both Q2 2023 and Q3 2022. McEwen produced 38,500 GEOs in Q3, and 104,400 GEOs for the nine months ended September 30.
The Fox mine complex in Ontario produced 11,200 oz. of gold and remains on track to meet guidance of 42,000 to 48,000 oz. for the year. The Gold Bar mine in Nevada produced 9,500 oz. of gold, an increase of 20% compared to Q2 2023. The San José mine in Argentina produced 17,800 GEOs, an increase of 3% over last quarter.
The company said it continues to advance exploration at Los Azules in Argentina, aiming to deliver all information required for the feasibility study.
During Q3, it completed planning and preparation work for the 2023-2024 drilling campaign, which has a target of 48,000 meters and includes additional exploration, infill, geotech, hydrological and hydrogeological drilling. The project is anticipated to produce an annual average of 322 million lb. of copper cathode over a 27-year life of mine.
McEwen invested C$18.5 million in Los Azules copper project during the quarter, primarily to build a winter camp, further improve road access, and to construct a logistics facility in San Juan.
The company reiterated its consolidated production guidance at the lower end of a range of 150,000 to 170,000 GEOs for the year.
Shares of McEwen surged 12.7% by 12:14 p.m. EDT Thursday. The company has a market capitalization of C$301 million ($218.5m).
https://www.mining.com/mcewen-mining-shares-jump-despite-q3-loss/
Wheres the fire? I briefly looked over the Q3 results but not much stood out over previous quarters. .71 per share, I will take it!
Retail squeeze. This stock imo has a large retail ownership and the big boys want the stock. Let the battle rage on and I say let them go pound sand
MUX 6.69 -41 Wow, Now we know what bears really do in the woods !
,Gold lacks the juice to break through $2,000 next week, but analysts don't recommend shorting it
with MMGYS soundtrack
by
Neils Christensen
Friday November 03, 2023 15:43
(Kitco News) - Gold’s inability to convincingly break above $2,000 an ounce is creating some cautious sentiment in the marketplace, with some analysts saying that prices might need to consolidate in the near term before the precious metal takes a run at its all-time highs.
While analysts are not looking to short gold in the environment, some have said its price action is disappointing as gold has not benefited from a sharp drop in yields and weakness in the U.S. dollar.
Currently, at $1,999, gold has ended a three-week winning streak as it looks to close the week roughly unchanged from last Friday. However, prices are down nearly 1% from its opening gap at the start of the week.
Commodity analysts have said that gold continues to be driven by global geopolitical factors as waning fear in the marketplace takes its toll on the precious metal’s safe-haven allure. Although Israel’s war with Hamas continues to rage, the conflict remains within Gaza, keeping the ongoing chaos in the Middle East in check.
"The geopolitical crisis that has fueled gold’s rally is becoming exhausted,” said Christopher Vecchio.
Vecchio said that while a geopolitical event can provide the gold market with tradeable momentum, it does nothing to attract long-term investors. He noted that a gold rally based on a specific geopolitical event needs to see constant escalation to maintain its safe-haven bid.
Vecchio said he exited his gold position last week and will remain on the sidelines in the near-term as he expects prices to consolidate.
"The bulk of gold’s big move is done. But I would not want to short gold as the fundamental backdrop of a weaker dollar and lower bond yields are positive for gold,” he said. "I think gold can continue to grind higher, but it will be a frustrating grind for potential traders.”
David Morrison, senior market analyst at Trade Nation, described gold as a market that is in search of a new catalyst.
Ole Hansen, head of commodity strategy at Saxo Bank, said that he is neutral on gold; he also noted that a consolidation around current levels would be healthy. The neutral outlook comes after gold saw a nearly 7% rally in October, its best monthly performance since March.
"Gold has paused after rallying almost 200 dollars last month after profit-taking emerged once again above $2,000 per ounce. Having rallied so hard in a short space of time, the market needs consolidating, but so far, the correction has been relatively shallow, with support appearing at $1,953, ahead of $1,933, the 200-day moving average and 38.2% retracement of the mentioned rally,” said Hansen.
On the downside, Hansen said that gold prices would have to fall back to $1,900 an ounce to put this new uptrend at risk.
With little economic data on the docket next week, analysts have said investors will continue to digest the Federal Reserve’s monetary policy decision.
The Fed's monetary policy is irrelevant and won't stop gold's push above $2,000 - abrdn's Robert Minter
Although the U.S. central bank left interest rates unchanged for the second consecutive time in this tightening cycle, Federal Reserve Chair Jerome Powell maintained his tightening bias.
"Is monetary policy restrictive enough to bring inflation down to 2%? That is what we are asking ourselves," said Powell in his press conference following the monetary policy decision.
"The Fed has left the door open to another rate hike. Even though we are confident that interest rates have already peaked, market participants are nonetheless likely to remain cautious in this respect. Assuming there is no further escalation in the Middle East, the upside potential for the gold price will probably be severely limited,” said Barbara Lambrecht, commodity analyst at Commerzbank.
Markets will get a chance to hear more from Powell as he participates in a panel discussion on "Monetary Challenges in a Global Economy" at a conference in Washington.
The only major economic report to be released next week will be the University of Michigan’s preliminary consumer sentiment survey.
Last month’s revision to the survey surprised markets as one-year consumer inflation expectations rose 4.2%. Powell, during his press conference, dismissed the reading, saying it was an outlier and most consumer surveys show inflation expectations remain "well anchored.”
Next week’s data
Monday: Reserve Bank of Australia monetary policy decision
Thursday: Weekly U.S. unemployment claims; Powell participates in a panel discussion
Friday: University of Michigan preliminary consumer sentiment
https://www.kitco.com/news/2023-11-03/Gold-lacks-the-juice-to-break-through-2-000-next-week-but-analysts-don-t-recommend-shorting-it.html
Is the fair and balanced market going to let gold go past $2,000 or is a smackdown in store? Interest rate no. Hike celebration is a total joke. Interest alone on debt out of control let alone spending and gold cant break $2,000? All smoke and mirrors.
McEwen Mining: Q3 Production
https://finance.yahoo.com/news/mcewen-mining-q3-production-110000936.html
$MUX ETF Machine Report
with MMGYS soundtrack
McEwen Mining Inc (NYSE:MUX) Shares Sold by Van ECK Associates Corp
Posted by MarketBeat News on Oct 29th, 2023
McEwen Mining logoVan ECK Associates Corp trimmed its position in McEwen Mining Inc (NYSE:MUX – Free Report) (TSE:MUX) by 8.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,997,841 shares of the basic materials company’s stock after selling 182,159 shares during the period. Van ECK Associates Corp owned 4.21% of McEwen Mining worth $14,364,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its stake in McEwen Mining by 11.1% in the first quarter. BlackRock Inc. now owns 9,331,628 shares of the basic materials company’s stock worth $7,854,000 after purchasing an additional 930,532 shares in the last quarter. Vanguard Group Inc. grew its stake in McEwen Mining by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,406,958 shares of the basic materials company’s stock worth $5,393,000 after purchasing an additional 86,204 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in McEwen Mining by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,957,476 shares of the basic materials company’s stock worth $1,648,000 after purchasing an additional 47,610 shares in the last quarter. Renaissance Technologies LLC grew its stake in McEwen Mining by 428.2% in the first quarter. Renaissance Technologies LLC now owns 1,421,300 shares of the basic materials company’s stock worth $1,196,000 after purchasing an additional 1,152,200 shares in the last quarter. Finally, Swiss National Bank grew its stake in McEwen Mining by 7.3% in the first quarter. Swiss National Bank now owns 922,931 shares of the basic materials company’s stock worth $777,000 after purchasing an additional 62,400 shares in the last quarter. 19.63% of the stock is currently owned by institutional investors and hedge funds.
https://www.etfdailynews.com/2023/10/29/mcewen-mining-inc-nysemux-shares-sold-by-van-eck-associates-corp/
Nice JD. Im no chartist but it appears MUXers didnt get the “capitulation” message thus Im starting to see a pattern of slightly lower highs and lower lows on these runs since April.
Long and strong.
Junior Miners Have Capitulated & Slingshot Move Coming Soon says Pro Mining Investor David Erfle
MiningStockEducation.com
Oct 24, 2023 #miningstocks #resourceinvesting #goldinvesting
In this interview pro mining investor David Erfle provides his commentary on the gold price and junior gold stock sector. He explains why he believes the junior miners have already capitulated and that a slingshot move upwards is coming. David Erfle is a self-taught mining sector investor. He stumbled upon the mining space in 2003 as he was looking to invest into a growing sector of the market. After researching the gains made from the 2001 bottom in the tiny gold and silver complex, he became fascinated with this niche market. So much so that in 2005 he decided to sell his home and invest the entire proceeds from the sale into junior mining companies. When his account had tripled by September, 2007, he decided to quit his job as the Telecommunications Equipment Buyer at UCLA and make investing in this sector his full-time job. David founded the Junior Miner Junky subscription-based newsletter in April, 2017 and writes a weekly column for precious metals news service Kitco.com, whose website attracts nearly a million visits every day.
I like the headline that said "These are not your Dads Stocks"
with MMGYS soundtrack
Have a good weekend everybody :)
Institutional Miners missed the memo 3 years ago
as for $MUX 3.2% of the outstanding shares are actually owned by human beings !
We're playing machines in a casino man not my daddy's stocks
Jesse said today
Gold and silver initially rallied strongly, but were whittled back as the day wore on.
The metals shorts may be giving way, but they are drawing a line in the sand at gold $2000.
If that resistance is broken, gold may run.[
Andrew said today (changes coming to gold in 67 days)
Why a real physical gold price will rise from the Cartels ashes in 2024 - LFTV Ep 145
Kinesis Money
Oct 20, 2023
In this week’s episode of Live from the Vault, Andrew Maguire kicks off with a discussion about the synthetic disconnect between the speculators and the COMEX, before delving into the behind-the-scenes moves affecting gold prices.
The precious metals expert takes listeners through the current bullish market behaviour and what’s driving it as we approach the end of 2023, harkening back to his start of the year predictions about the impact of Basel III NSFR compliance./b]
Recent headline I found amusing. "McEwen Mining Inc (MUX) Shares Plummet Below 1-Year High".
Love how Rob helps the little miners !
Rob McEwen invests in junior gold explorer McFarlane Lake
with MMGYS soundtrack
Staff Writer | October 17, 2023 | 2:38 pm Exploration Markets Canada Gold
Canadian gold explorer McFarlane Lake Mining (NEO: MLM) announced Tuesday that it intends raise C$4.5 million through the sale of a combination of units and flow-through shares of the company, with McEwen chairman Rob McEwen acting as the lead investor.
In total, McFarlane Lake intends to issue 50 million units priced at C$0.05 each and approximately 33.3 million flow-through shares priced at C$0.06 apiece. McEwen, who has been associated with the gold industry throughout his career, has agreed to subscribe for C$1 million worth of the securities.
Shares of McFarlane Lake soared by 30.8% to C$0.085 at market close, giving the junior gold miner a market capitalization of C$9.6 million.
Net proceeds will be used by the company to further explore the High Lake gold property, which straddles the Ontario-Manitoba border and could potentially be developed together with its West Hawk Lake project located on the Manitoba side.
Exploration on the High Lake property has led to the identification of a mineralized zone with potential for open-pit mining. To date, the deposit contains an estimated indicated resource of 152,000 tonnes grading 9.38 g/t gold and inferred resource of 287,000 tonnes at 10.43 g/t gold.
“We are delighted that Rob McEwen is participating in the offering and look forward to working with him as we continue to build out our gold resources at High Lake and develop our Canadian gold properties,” Mark Trevisiol, CEO of McFarlane Lake, said in a news release.
McEwen’s company currently holds three producing mines in Nevada, Ontario, and Argentina, as well as a 68% interest in the large Los Azules copper project in Argentina.
“I was attracted to McFarlane Lake because of its terrific high-grade intercepts and the fact that it is in Canada and located close to where Goldcorp Inc. enjoyed such phenomenal exploration success and profitability,” McEwen said in a statement.
https://www.mining.com/rob-mcewen-invests-in-junior-gold-explorer-mcfarlane-lake/
Wooo Hooo! We are at .818 cents! Now lets get this back up to $2 pre reverse split ($20 post split) which is where the big boys are setting the price for Copper only on their deals. Such distortion in the markets, I guess I will just be happy they let a few scraps fall off the table and hit the floor where me, a dog awaits. Woof woof 🐶
But they’re all on strike
McEwen Mining's McEwen Copper Get Third Investment From Nuton, A Rio Tinto Venture
Oct 12, 2023
McEwen Copper gets a third investment from Nuton at a valuation that is a premium to McEwen Mining's interest in McEwen Copper. Which means the gold mines are being valued today at zero, or even less than zero.
Stellantis, Rio Tinto raise bets on Argentina copper mining
Bloomberg News | October 11, 2023 | 10:14 am Top Companies Latin America Copper
$MUX McEwen, Rio Tinto to jointly develop copper project in Nevada
Los Azules copper project in San Juan, Argentina. (Image courtesy of McEwen Mining.)
Automaker Stellantis NV and miner Rio Tinto Group are upping their investments in a giant copper deposit in Argentina as the race for metals used in electric vehicles heats up.
Stellantis, the maker of Peugeot cars and Jeep sports utility vehicles, is investing 42 billion Argentine pesos ($120 million) to raise its stake in closely held McEwen Copper Inc. to 19.4%, the latter said in a statement Wednesday. Rio Tinto venture Nuton will spend $10 million to boost its holdings in the firm run by mining entrepreneur Rob McEwen to 14.5%.
The investments, which value McEwen Copper at about $800 million, will go toward advancing the company’s Los Azules project in San Juan province after more welcoming policies rekindled interest in Argentina’s vast deposits despite the nation’s economic woes and capital and currency controls.
The fresh funds give McEwen Copper more breathing space before going public. The firm will continue to evaluate the ideal timing for an initial public offering, chief Michael Meding said in a text message. It hopes to publish a feasibility study early 2025 and start producing copper toward the end of the decade.
For Stellantis, it’s a sign of how keen car companies are to lock in future supplies of the materials needed to move away from fossil fuels. Still, Goldman Sachs Group Inc. analysts warned earlier this year that moves by automakers into the mining space may end badly, saying they’d be better off sticking to their core competencies and reducing their exposure to commodity price swings through hedging.
The investment comes less than two weeks before a pivotal presidential election in Argentina in which opposition candidates Javier Milei and Patricia Bullrich promise to deregulate the heavily controlled economy.
(By James Attwood)
https://www.mining.com/web/stellantis-rio-tinto-raise-bets-on-copper-mining-in-argentina/
Theirs some powerful copper technology at work here and knowing Robs history Los Azules will probably be the most high tech copper mine on the planet.
Probably even have those robot security dogs
Even grow there own robot food and everything.
and let me tell you
you don't want to get bit by
ROBOMUX
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