McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reported its first-quarter 2026 financial results on Tuesday, providing updates on development and exploration projects across Canada, the United States, Mexico, and Argentina. The company is advancing its plan to increase annual production to between 250,000 and 300,000 gold equivalent ounces (GEOs) by 2030, supported by robust gold prices and progress at key projects.
The company highlighted advancements at the Stock and Grey Fox mines in Ontario, resource growth at Tartan and Windfall, expansion initiatives at Gold Bar and El Gallo, and continued development of the Los Azules copper project through its subsidiary, McEwen Copper. The full press release is available at https://ibn.fm/qiAmR.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides shareholders exposure to a growing base of gold and silver production as well as a large copper development project, all located in the Americas. The gold and silver mines are 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. The company is also reactivating its gold-silver El Gallo Mine in Mexico.
McEwen holds a 46.3% interest in McEwen Copper, which owns the 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 project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in a press release dated October 7, 2025.
Additionally, McEwen recently purchased a 27.3% stake in Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. The company believes this technology could become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider.
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. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame, and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX's profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
The latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX.
