$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.
McEwen Mining Inc. https://mcewenmining.com/
Rob McEwen, CEO & Chief Owner of McEwen Mining, presenting at the 2023 Precious Metals Summit Zurich
Nov 20, 2023
Thanks Tred Happy Thanksgiving to you and all 😊
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.
How To Build a Multi-Billion-Dollar Enterprise with Mining Titan Rob McEwen
Nov 9, 2023
Today we sat down with Mining magnate Rob McEwen.
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.
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
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
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).
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
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
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.
$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.
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
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
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.
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)
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
Maybe Nuton is coming closer to solving the primary copper sulphide leaching conundrum the industry's looking for..
something lite a fire under them
McEwen Copper Announces an Additional US$10 Million Investment by Nuton, a Rio Tinto Venture
TORONTO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce abinding agreement for an additional $10.0 million investment by Nuton LLC, a Rio Tinto Venture, and existing McEwen Copper shareholder.
Nuton has agreed to invest US$10.0 million to acquire shares of McEwen Copper in a two-part transaction expected to close by October 19th, 2023 (the “Nuton Transaction”) consisting of a private placement of 152,615 McEwen Copper common shares, and the purchase of 232,000 common shares owned by McEwen Mining in a secondary sale. Proceeds of the subscription and purchase are expected to be approximately $4.0 million to McEwen Copper and $6.0 million to McEwen Mining, respectively. The proceeds of the private placement will be used to advance the development of the Los Azules copper project in San Juan, Argentina, and for general corporate purposes.
After closing, Nuton will own 14.5% of McEwen Copper on a fully diluted basis, and McEwen Mining will own 47.7%. The transaction values McEwen Copper at approximately US$800 million.
In connection with the Transaction, McEwen Copper and certain of its affiliates agreed to amend the Nuton Collaboration Agreement to extend the period of exclusivity over novel, trade secret or patented copper heap leach technologies until February 1st, 2025.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Nuton is an innovative new venture that aims to help grow Rio Tinto’s copper business. At the core of Nuton is a portfolio of proprietary copper leach-related technologies and capability – a product of almost 30 years of research and development. Nuton™ Technologies offer the potential to economically unlock copper sulphide resources, copper bearing waste and tailings, and achieve higher copper recoveries on oxide and transitional material, allowing for a significantly increased copper production. One of the key differentiators of Nuton is the potential to deliver leading environmental performance, including more efficient water usage, lower carbon emissions, and the ability to reclaim mine sites by reprocessing mine waste.
About McEwen Copper
McEwen Copper Inc. holds a 100% interest in the Los Azules copper project in San Juan, Argentina and the Elder Creek project in Nevada, USA.
Los Azules was ranked in the top 10 largest undeveloped copper deposits in the world by Mining Intelligence (2022). Its current copper resources are estimated at 10.9 billion pounds at a grade of 0.40% Cu (Indicated category) and an additional 26.7 billion pounds at a grade of 0.31% Cu (Inferred category). A PEA published in June 2023 estimated a $2.7 billion after-tax NPV8% at $3.75/lb Cu and a 27-year mine life.
That makes sense to me.
You and me both. Makes one wonder about those partners that bought in at $10 and $19. If they bought in at those high prices it would surely make senses to “accumulate” stock at these bargain prices, no? I think so and I think thats who is buying this as it falls.