Los Azules mine

McEwen Mining: Q3 Production

Retrieved on: 
Monday, October 30, 2023
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(1)   'Gold Equivalent Ounces' are calculated based on a gold-to-silver price ratio of 90:1 for Q3 2022, 82:1 for Q1 2023, 82:1 for Q2, 2023, and 81:1 for Q3 2023.

Key Points: 
  • (1)   'Gold Equivalent Ounces' are calculated based on a gold-to-silver price ratio of 90:1 for Q3 2022, 82:1 for Q1 2023, 82:1 for Q2, 2023, and 81:1 for Q3 2023.
  • (2)   The San José Mine is 49% owned by McEwen Mining Inc. and 51% owned and operated by Hochschild Mining plc.
  • San José, which is operated by our joint venture partner Hochschild Mining, delivered Q3 production in line with our expectations for the quarter and guidance for the year.
  • McEwen Mining retains 47.7% ownership of McEwen Copper, with an implied market value of $380 million, this represents a value accretion for McEwen Mining shareholders of $98 million or two (2) dollars per share since March 2023.

McEwen Copper Closes ARS $42 Billion Investment by Stellantis

Retrieved on: 
Wednesday, October 11, 2023
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Stellantis N.V. (“Stellantis”), which in February 2023 invested ARS $30 billion, has today invested an additional ARS $42 billion in Argentina to acquire shares of McEwen Copper in a private placement of 1,900,000 common shares.

Key Points: 
  • Stellantis N.V. (“Stellantis”), which in February 2023 invested ARS $30 billion, has today invested an additional ARS $42 billion in Argentina to acquire shares of McEwen Copper in a private placement of 1,900,000 common shares.
  • Giving effect to the pending investment by Nuton LLC, also announced today, Stellantis increases its ownership to 19.4% of McEwen Copper and McEwen Mining owns 47.7% on a fully diluted basis.
  • In connection with the Transaction, McEwen Copper and certain of its affiliates amended the Investor Rights Agreement with Stellantis (the "Stellantis IRA”) and the Copper Cathodes and Concentrates Purchase Rights Agreement (the “CCCPRA”), further described below.
  • The Stellantis IRA was amended to make the Carbon Neutral Commitment by 2028 not contingent on Stellantis maintaining a certain minimum ownership percentage in McEwen Copper.

McEwen Copper Announces an Additional US$10 Million Investment by Nuton, a Rio Tinto Venture

Retrieved on: 
Wednesday, October 11, 2023
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TORONTO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce a binding agreement for an additional $10.0 million investment by Nuton LLC, a Rio Tinto Venture, and existing McEwen Copper shareholder.

Key Points: 
  • TORONTO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce a binding 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.
  • After closing, Nuton will own 14.5% of McEwen Copper on a fully diluted basis, and McEwen Mining will own 47.7%.

McEwen Mining: Q2 2023 Results

Retrieved on: 
Thursday, August 10, 2023
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TORONTO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reported its second quarter (Q2) and half year (H1) results for the period ended June 30th, 2023.

Key Points: 
  • TORONTO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reported its second quarter (Q2) and half year (H1) results for the period ended June 30th, 2023.
  • McEwen Copper: PEA for the Los Azules copper project issued in June 2023 with NPV8% of $2.7 Billion and payback period of 3.2 years, assuming a copper price of $3.75/lb.
  • Mr. McEwen continued, “At McEwen Mining, quarterly production from our mines delivered a marked improvement in terms of ounces produced over Q1.
  • Management will discuss our Q2 financial results and project developments and follow with a question-and-answer session.

McEwen Mining: Q1 2023 Results

Retrieved on: 
Monday, May 8, 2023
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TORONTO, May 08, 2023 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported its first quarter (Q1) results for the period ended March 31st, 2023.

Key Points: 
  • TORONTO, May 08, 2023 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported its first quarter (Q1) results for the period ended March 31st, 2023.
  • Adjusted net loss(1) was $6.4 million, or $0.14 per share in Q1, compared to an adjusted net loss of $13.1 million, or $0.28 per share in Q1 2022.
  • Production from our three operating mines was 30,400 gold equivalent ounces (GEOs) (3) in Q1, compared to 25,200 GEOs in Q1 2022.
  • Management will discuss our Q1 financial results and project developments and follow with a question and answer session.

McEwen Copper: Los Azules – New Assay Results

Retrieved on: 
Wednesday, April 5, 2023
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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.

Key Points: 
  • Below the Enriched zone, the Primary (or Hypogene) zone is formed by ascending copper-rich thermal fluids having a much deeper magmatic origin.
  • The breccia unit is the highest-grade domain modelled at Los Azules.
  • In addition, the laboratory performs its own internal QAQC checks, with results made available on certificates for Company review.
  • Link to geochemical results, locations and lengths of drill-hole collars corresponding to October 2022 through January 2023 at Los Azules:

McEwen Mining: 2022 Year End and Q4 Results

Retrieved on: 
Tuesday, March 14, 2023
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TORONTO, March 14, 2023 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported fourth quarter and full year results for the period ended December 31, 2022.

Key Points: 
  • The Froome Mine produced 9,870 GEOs in Q4 2022, bringing the full year 2022 production to 36,650 GEOs.
  • As a result, the mine production was 39% lower year-over-year with 7,940 GEOs in Q4, and 26,620 in 2022.
  • On October 24, 2022, McEwen Copper signed an option agreement with Kennecott Exploration Company (“Kennecott”), a subsidiary of Rio Tinto.
  • Subsequent to the transactions, Stellantis and Nuton each own 14.2% of McEwen Copper, while McEwen Mining’s ownership is reduced to approximately 52%.

McEwen Copper: Los Azules – Initial Exploration and Solid Delineation Results

Retrieved on: 
Monday, March 6, 2023
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TORONTO, March 06, 2023 (GLOBE NEWSWIRE) -- McEwen Copper Inc., 52%-owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), today reports new copper values over extensive widths resulting from infill and step-out exploration drilling at its Los Azules Project. Los Azules is a large porphyry copper-gold-silver deposit with considerable growth potential, where its ultimate depth and lateral extent remain to be determined.The Los Azules project, located in the San Juan province, Argentina, has many attributes comparable to world-class copper-gold deposits in South America. Table 1 provides a summary of the assay results for the two drill holes for copper (Cu), gold (Au) and silver (Ag).

Key Points: 
  • The results from hole AZ22174 reinforce our belief that the deposit continues to be open at depth and to the North and represents a sizeable opportunity.
  • The sub-interval of 26 m grading 1.46% Cu includes early mineral porphyry and quartz veinlets that also typify the core of Los Azules.
  • Delineation drilling continues at Los Azules with a focus on upgrading to Measured mineral resources the Enriched zone as shown on Section 37 in Figure 2.
  • In addition, the laboratory performs its own internal QAQC checks, with results made available on certificates for Company review.

Stellantis Announces Strategic Copper Investment in Argentina, Reinforcing Commitment to Reaching Carbon Net Zero by 2038

Retrieved on: 
Monday, February 27, 2023
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Stellantis Announces Strategic Copper Investment in Argentina, Reinforcing Commitment to Reaching Carbon Net Zero by 2038

Key Points: 
  • Stellantis Announces Strategic Copper Investment in Argentina, Reinforcing Commitment to Reaching Carbon Net Zero by 2038
    AMSTERDAM, February 27, 2023 - Stellantis 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.
  • With this stake, Stellantis will become McEwen Copper’s second largest shareholder, along with Rio Tinto, through its copper leaching technology venture, Nuton.
  • “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 Carlos Tavares, Stellantis CEO.
  • Through aggressive and clear targets, by 2030(1) it plans to reduce its carbon emissions footprint by half versus 2021 metrics, putting the Company on track to achieve carbon net zero by 2038(2).

McEwen Copper Closes ARS $30 Billion Investment by Stellantis

Retrieved on: 
Monday, February 27, 2023
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FCA Argentina S.A., a subsidiary of Stellantis N.V. (“Stellantis”), has invested ARS $30 billion in Argentina to acquire shares of McEwen Copper in a two-part transaction that closed on February 24th, 2023 (the “Transaction”) consisting of: 1.

Key Points: 
  • FCA Argentina S.A., a subsidiary of Stellantis N.V. (“Stellantis”), has invested ARS $30 billion in Argentina to acquire shares of McEwen Copper in a two-part transaction that closed on February 24th, 2023 (the “Transaction”) consisting of: 1.
  • Purchase of 1,250,000 common shares indirectly owned by McEwen Mining in a secondary sale.
  • After the closing of the Transaction, McEwen Mining will be separately compensated for the secondary sale by McEwen Copper in U.S. dollars.
  • Giving effect to the upcoming investment by Nuton LLC, also announced today, Stellantis owns 14.2% of McEwen Copper and McEwen Mining owns 51.9% on a fully diluted basis.