McEwen Inc. (NYSE: MUX) (TSX: MUX) announced it has filed NI 43-101 technical reports on SEDAR+ for its Grey Fox Project in Ontario and the Lookout Mountain and Windfall deposits in Nevada, supporting previously released prefeasibility and mineral resource estimates. The filings provide investors with detailed assessments of these key assets, underscoring their potential to contribute to the company's production growth and financial performance.
The Grey Fox technical report outlines a 15-year mine life with probable mineral reserves of 980,300 contained gold ounces. The project boasts a post-tax net present value of $282 million at a $3,000-per-ounce gold price, increasing significantly to $841 million at $4,500 gold. These figures highlight the project's sensitivity to gold prices and its ability to generate substantial returns in a favorable commodity environment.
For the Nevada properties, the Lookout Mountain and Windfall technical report confirms combined indicated mineral resources of 629,800 gold ounces and inferred resources of 262,000 gold ounces. Notably, most contained ounces occur in oxide mineralization considered potentially amenable to heap-leach processing, which typically offers lower capital and operating costs compared to conventional milling. This presents a favorable development scenario for the company.
The reports are available through the company's SEDAR+ filings and support previously announced project results. The filing of these technical reports is a critical step for McEwen as it advances its gold projects toward development and potential production. Investors can access the full press release at https://ibn.fm/cmmP2 for more details.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. Its gold and silver mines are located in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
Beyond gold and silver, McEwen holds a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million (US$7.67 per share). The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. The company believes this technology is poised to become the new industry standard for assaying precious and base metals.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build MUX's profitability, share value, and ultimately implement a dividend policy.
