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MUX News
MUX Events
McEwen Announces COO Retirement and Executive Promotions
McEwen "announced the planned retirement of Chief Operating Officer William Shaver. Mr. Shaver will continue to serve on the Board of Directors of McEwen Copper, which is 46.3% owned by McEwen. As a result of Mr. Shaver's retirement, McEwen has made several promotions to its leadership team. The Company views current production, mine construction and permitting as the three keys to successfully reaching its goal of 250,000-300,000 GEOs by 2030. To that end, McEwen will be making three appointments to address these areas and our Vice-Chairman, Ian Ball, will be working closely with these gentlemen to propel McEwen forward. Channa Kumarage - Promoted to Vice President, Operations. Mr. Kumarage will be responsible for overseeing the Company's operating mines. He has held progressive leadership roles within McEwen, including Director of Technical Services, where he was instrumental in bringing the Froome mine at the Fox Complex in Timmins into production and developing the Stock Mine that is nearing completion. Kevin Bromfield - Promoted to Vice President, Development Projects. Mr. Bromfield will lead the teams responsible for the engineering and building of Grey Fox (Fox Complex, Timmins), Tartan Mine Project (Flin Flon, Manitoba) and Lookout Mountain/Windfall (Gold Bar Mine Complex, Nevada). Zahir Jina - Promoted to Vice President, Permitting, Government Relations and Sustainability. Mr. Jina is an environmental management, engagement and permitting professional with more than 15 years of experience advancing Canadian and international mining projects through provincial, state and federal approval processes, from greenfield or brownfield development to closure."
McEwen Reports Mineral Resource Estimate for Tartan Mine Project
McEwen is pleased to report its Mineral Resource Estimate for the Tartan Mine Project, located in Flin Flon, Manitoba. The Mineral Resource Estimate outlines 308,900 Indicated gold ounces and 302,700 Inferred gold ounces, with good potential to increase the size of the resource through additional drilling: 1) Immediately around the resource, along the Western and Eastern Flanks of the Main Zone 2) Vertically at the Main and South Zones, and 3) On the adjoining, optioned Tartan West property to the west, where good gold grades have been reported in recent surface samples and historic drill holes. The Tartan Mine Project forms part of the company's goal of doubling production to 250,000-300,000 gold ounces by 2030. McEwen expects initial annual production at Tartan to average approximately 30,000 gold ounces, with the potential to expand throughput through future permit modifications. The company believes that doubling the potential mill capacity from 500 tonnes per day to 1,000 tpd could see production grow to 45,000-55,000 ounces per year.
McEwen Mining Q4 Revenue $64.6M, Below Consensus
Reports Q4 revenue $64.6M, consensus $72.83M. "With gold and silver trading near record highs, we reported significant Net Income and Adjusted EBITDA for Q4 and the full year 2025. Our Q4 operating and financial performance positions us to potentially generate $80M in free cash flow from our 100%-owned operations, and more than $50M in dividends from our 49% ownership in the San Jose Mine during 2026. This strong cash flow will enable us to accelerate our plans to double production. At the same time, we are advancing Los Azules, one of the world's largest undeveloped copper deposits...We also released a strong feasibility study at the end of last quarter that outlines a base case scenario with a 22-year project life, average copper production of 205 ktpa in the first five years, and 148 ktpa of copper cathodes over the life of the asset. Our study also highlights the potential for an additional 33 years of mine life at 141 ktpa copper production...Los Azules has an after-tax NPV, 8%, of $2.9B, or approximately $23 per attributable MUX share....The project has been designed as a low-cost, environmentally responsible operation, with one-quarter the water consumption of a comparable conventional mine, one-tenth the carbon emissions, and the potential to operate using 100% renewable power, while eliminating the need for conventional tailings storage," stated Rob McEwen, CEO.
Goliath Resources Issues 3 Million Shares, Holds 100% Interest in Golddigger
Goliath Resources (GOTRF) has received TSX Venture Exchange approval and has issued 3,000,000 common shares to The J2 Syndicate and J2 Syndicate Holdings pursuant to an amending agreement dated January 21, 2026 which amends its existing property option agreement with the Optionors in respect of its Golddigger Property located in the Golden Triangle, B.C., which hosts the high-grade Surebet Gold Discovery. The Consideration Shares have a four month plus one day hold period from the date of issuance. As a result of the issuance of the Consideration Shares, Goliath has earned the remaining 51% ownership interest in the Golddigger Property and now holds a 100% interest in the property. In addition, Goliath has bought down 1% of the 3% Net Smelter Returns reducing it to a 2% NSR held by the Optionors. Other key features of the Amending Agreement include:Goliath must publish a mineral resource estimate on or before June 1, 2030, and thereafter on every three-year anniversary of June 1, 2030; Goliath will be required to pay the Optionors $1 for every gold equivalent ounce over 4,000,000 gold equivalent ounces disclosed in an MRE rather than $1 for every gold equivalent ounce over 2,000,000 gold equivalent ounces; and should there be a change of control prior to Goliath publishing an MRE, the acquirer would assume the obligations of the Company under the Option Agreement, including the requirement to deliver an MRE would be changed from June 1, 2030 to the third anniversary of the date of completion of such change of control. The Company will not be proceeding with the proposed extension of the expiry date of the warrants issued to McEwen (MUX), as first disclosed in the Company's news release dated February 28, 2026. The TSXV did not approve the request as determined by the nature of McEwen Inc. acquiring Goliath units initially press released on January 9, 2025 and completed as an "expedited acquisition" that is treated according to their Policy 5.3. Accordingly, McEwen Inc.'s 2,590,673 common share purchase warrants of the Company with a strike price of $2.50 will expire end of day, March 10, 2026.
McEwen to Acquire Golden Lake Exploration
McEwen and Golden Lake Exploration are pleased to announce that they have entered into a Definitive Agreement on January 28, 2026 in respect of a proposed transaction, whereby McEwen would acquire all of the issued and outstanding shares of Golden Lake by way of plan of arrangement. If the Proposed Transaction is completed, Golden Lake would become a wholly-owned subsidiary of McEwen. Golden Lake's principal asset is its 100%-owned Jewel Ridge and Jewel Ridge West projects located adjacent to McEwen's Windfall and Lookout Mountain discoveries, part of the Gold Bar Mine Complex, in the Eureka Mining District of Nevada. Historical drill highlights from Jewel Ridge project include 2.20 gpt gold over 28.96 meters, 1.24 gpt gold over 56.39 meters, 2.37 gpt gold over 67.57 meters. These holes are located north of McEwen's Windfall deposit, where a recent drill hole returned 5.55 gpt gold over 44.2 meters. Incorporating Golden Lake's projects into the Gold Bar Mine Complex will help continue the mine's transformation into a long-life operation by investing in exploration and leveraging the current McEwen infrastructure.
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