Summary
US8 Chart
TNR Gold royalty project Los Azules advances as McEwen Copper secures $240M term loan
TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) said Thursday that McEwen Copper Inc. has closed a $240 million senior secured four-year term loan to advance the Los Azules copper, gold and silver project in San Juan, Argentina, a project on which TNR holds a 0.4% net smelter returns royalty.
McEwen Inc.: The Gold Bar Miss Is Fixable, The Copper Is Free
McEwen is rated BUY with a $31 target, driven by long-term asset growth and copper exposure. MUX's investment thesis centers on production ramping from 115,700 oz in 2025 to up to 300,000 oz by 2030, with minimal dilution. Los Azules copper project represents significant optionality; 46% stake and royalty are not fully priced in at current levels.
McEwen Q2 Earnings Call Highlights
McEwen NYSE: MUX said its second-quarter operational performance fell short of expectations, citing lower production and elevated costs, while management outlined steps to improve recoveries at its Gold Bar mine and advance the Los Azules copper project toward a final investment decision.
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McEwen Mining Inc. Profile
| Metals & Mining Industry | Materials Sector | Robert Ross McEwen CEO | XFRA Exchange | 58039P305 CUSIP |
| CA Country | 1,981 Employees | 7 Mar 2019 Last Dividend | 28 Jul 2022 Last Split | - IPO Date |
Overview
McEwen Mining Inc. is a notable player in the mining industry, focusing on the exploration, development, production, and sale of gold and silver, with operations expanding across the United States, Canada, Mexico, and Argentina. The company, established in 1979 and initially known as US Gold Corporation, underwent a name change to McEwen Mining Inc. in January 2012, reflecting its expanded vision and operations. With its headquarters in Toronto, Canada, McEwen Mining demonstrates a robust portfolio that includes significant interest in various mines and projects, alongside exploration properties across its operational regions.
Products and Services
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Gold and Silver Mining
McEwen Mining's core business revolves around the exploration and production of precious metals, primarily gold and silver. Their active projects include the Gold Bar mine in Nevada, USA, which showcases their capability in gold extraction and processing, and the silver-gold El Gallo Project in Sinaloa, Mexico, demonstrating their versatility in mining operations. These projects highlight the company's commitment to supplying the market with valuable precious metals.
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Copper Exploration
Apart from gold and silver, McEwen Mining has ventured into copper exploration, seeking to diversify its mineral portfolio. The Los Azules Copper Project in San Juan, Argentina, is a testament to this endeavor, representing a significant interest of 47.7% by the company. This project illustrates McEwen Mining's strategic move towards becoming a multi-faceted mining entity.
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Mining Rights and Property Interests
McEwen Mining holds extensive mining rights and property interests, exemplified by its 100% interest in the Tonkin property and diverse projects in Ontario, Canada such as the Froome mine and the Grey Fox. In addition to these, the company maintains a 49% interest in the San José mine in Santa Cruz, Argentina, and investments in exploration properties in Nevada, Canada, Mexico, and Argentina, showcasing their strategic acquisition and management of mining assets.
Contact Information
