McEwen Mining Inc (MUX)

[gharma]

We would have entirely different ballgame in MUX if revenue could flow from the San Jose JV for El Gallo, and putting Los Azules into the property portfolio would look attractive (to more than just the Chinese where as a gov enterprise holding the pressures/persuasions that could be brought to bear on the issues of export taxes on concentrate and barriers on export of profits are very significant compared to the possible situation any shopping major needs to consider).
Until uncertainties are settled and/or real global growth kicks in to drive interest in expensive copper projects things are as they are. I can still see sense in getting sub-par value out of Los Azules if possible after the new resource estimate, or the next, at least given what it would enable MUX to accomplish in more stable jurisdictions.
Let's hope that blogger carries through with the mentioned active writing once settled by in Argentina. Some more balanced and unrestrained views of what is happening would be welcome. One thing is certain, in any country a political junta does not survive long if it hits the common person in the pocket, and CFK policies have been doing that in a major way, well does not survive unless repressively against the will of the people that is. Of course, what may follow October elections might not be good for MUX given the strength of resource nationalism. I guess it depends on how enlightened about striking a balance what emerges in the opposition is and how well it can communicate this with the population.
IMO the next likely inflection point is in the closing Q of the year, I would guess later half of Q4. But it is so easy to speculate.