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McEwen Mining Inc. (MUX.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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1.15000.0000 (0.00%)
At close: 03:59PM EST
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  • S
    Syder
    W, good to hear from you, it's been a long time. I'm not nearly as active on the board any longer. I'm still holding on, but like many long timers, I'm just exhausted. The last due diligence I did was on our latest Q3 earnings. I surprised and disappointed to learn we lost 0.04 per share, a big step back from Q2. Digging a little into the numbers, most of that loss was from San Jose. In Q1 and Q2 we were receiving a dividend from San Jose, but for some reason I haven't figured out, we took a rather substantial loss in Q3. Our Timmins numbers were also slightly weaker than Q2 due to the higher exploration costs. While our AISCs are down slightly, they're still substantially high, much much higher than the average for their jurisdictions. Also there's a minor note in the filing that states that El Gallo will wind down and close sometime in early 2022. The company is still in a transitory state, but it's going to take a few more years in my opinion, mining isn't exactly a fast moving industry.

    We were expecting a Black Fox PEA at the end of 2021, but that hasn't materialized yet. I suspect the latest round of lockdowns in Canada have something to do with it.

    As you probably know by now, Rob spun off Mcewen Copper earlier this year. According to the Q3 filings, apart from Rob's personal 40 million dollar placement, only 2-3 million dollars has been raised as of the end of September 2021. In a recent interview Rob mentioned that he expects the offering to close this month (Jan. 2022), but to be honest, I'm not expecting it. He also mentioned that, under 'optimal' circumstances, Los Azules would take about 9 years from now to become fully operational, but my cynical side tells me that nothing is 'optimal' in the mining industry. The one thing I've learned is, mining CEOs, and Rob is no exception, tend to be wildly too optimistic in their guidance when it comes to public and investor relations - it's their job to pump.

    All in all, despite what Rob may tell us, and as long as we don't get delisted, I suspect 2022 will be another transitional year. Hopefully the current gold correction will resolve sooner rather than later and the company doesn't report yet another management or operational disaster. We've made some headway since 2020, but we're nowhere near out of the weeds yet.
  • N
    Nick
    MUX is within easy reach of $1.00 and is a cheap buy at these prices given the mines they own with proven reserves. Also, an attractive buyout opportunity by larger established miners. With anticipated silver price increases exploration plays should see strong M&A and consolidation
  • J
    Jazenevc
    MCEwen Copper drills holes at Los Azules now and it tries to drill as much as possible. One can expect drilling results to start coming in spring time, when drilling campaign ends in high-altitude Andes. Touting strong copper intercepts is likely the main hope for MUX to regain NYSE status. Please note also that the company knows, basically, where to drill to get the best results quickly, Los Azules was drilled before for many years. It indicates that strongly looking drilling results will be really announced in few months. Will it work to get share price back over $1? This is a challenging question for investors. Future is hazy, never certain, investment in stocks, esp. in things like MUX, comes with big risks.
  • R
    RLS
    Just wait Rob will guarantee mux will be in the SP500 by 2040. I thought everyone needed a laugh today concerning the dismal performance of mux trying to keep from being delisted.
  • b
    bondi
    Average price of silver.
    2019...$16.22
    2020...20.69
    2021....25.14
    2022...????
  • j
    john
    Where is our Timmins PEA promised 15 months ago. MUX will never prosper with no sense of urgency in delivering reports on time . Poor execution has characterized this company for years despite several management changes . The buck stops at the top ???
  • J
    Jam
    is delisting from nyse = end for MUX stocks?
  • P
    Phil
    Here "You" go again.
    Glad it's not Here "we" go again
    How's our CEO and our mine doing. Where are our drill reports?
    This price s a gift.. Buy more, hand over fist
  • W
    WILLIAM
    Rob should be getting his new years gift from the SEC soon in the form of intent to delist MUX, hope it's wrapped in a nice golden ribbon
  • R
    Roger
    Long time investor from Belgium but very disappointed in the results of this company in times where RAW materials like gold,silver,copper....their main business is the main thing.regards
  • R
    RLS
    Can Rob pull a Rabbit out of the hat to get Mux back over $1??
  • m
    mike
    Hey Rob your glory days are over please sell so we can our money back! Disclosure I will never buy another JR miner again never over promise under perform their claim to fame. Disclosure also bag holding Sabina.
  • W
    W
    Good grief......same ole same ole. This stock is lousy. Syder, can you catch me up on what has gone on? I have not checked in in months; maybe, close to a year now.
  • E
    Enginer
    No news = bad news.
    McEwen PR is, unfortunately, as weak as it's mining results. If MUX is really going somewhere (positive) there would be frequent blurbs out about how the cost per oz is being reduced, ad the mill haulage at Frome was saving money...as is, nothing means NOTHING GOING WELL.
  • r
    robert
    Delisting? I think they have blackrock........Up to a buck I say.....I hope....
  • K
    Kmp
    Gold and silver will spike from here, does not matter that this is profitable, it will be 1.50 come January.
  • A
    Anonymous
    Rob McEwen - Destroyer of value. Rob McEwen must step down.
  • m
    mike
    A total piece of junk just look at the 3 year chart on this stock I have been around since US Gold days listening to Rob`s B/S. I really hope for better days but I don`t see it with leadership. Good luck fellow bag holders.