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Mcewen Mining Inc

www: www.mcewenmining.com   email: info@mcewenmining.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
NYSE:MUX USD
TSE:MUX CAD

Description

Mcewen Mining Inc are a gold focused mid-tier producer with two producing mines in Argentina and Canada, one mine in development in USA and four exploration properties. Currently they produce roughly 135koz. of gold per year. They have approximately 3Moz. of gold in the reserves and resources category of which 2Moz. are in the measured and indicated category. They have a market capitalisation of ~$509.7M which is a rise of roughly 22% over the last seven months. As of 03/04/2024 they have ~$40M debt and ~$22M cash. They have 49M shares outstanding and trade on the New York Stock Exchange and the Toronto Stock Exchange.

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General Details

Financial 03/04/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $416.84M $509.70M 03/04/2024 $92.87M
Total Assets: $500.00M $500.00M 03/04/2024 $0.00M
Total Liabilities: $125.00M $125.00M 03/04/2024 $0.00M
Current Assets: $22.00M $22.00M 03/04/2024 $0.00M
Current Liabilities: $36.00M $36.00M 03/04/2024 $0.00M
Total Debt: $40.00M $40.00M 03/04/2024 $0.00M
Cash: $22.00M $22.00M 03/04/2024 $0.00M
Enterprise Value: $434.84M $527.70M 09/21/1986 $92.87M
Cash Flow: $42.01M $109.94M never $67.93M
Cash Flow Multiple: 9.92 4.64 never -5.29
Net Debt to
Cash Flow Ratio:		 0.43 0.16 never -0.26
Finance within 1 year: 03/04/2024 n/a
Misc 03/04/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 49,439,696 49,439,696 03/04/2024 0
Shares (FD): 53,372,082 53,372,082 03/04/2024 0
Insider Ownership: n/a 20% 05/31/2024 20%
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 03/04/2024 n/a
Production (Gold Eq Oz.): (guess) 
135,000		 (guess) 
135,000		 03/04/2024 0
Production (Silver Eq Oz.): (guess) 
12,056,345		 (guess) 
11,552,995		 03/04/2024 -503,350
Initial CapEx (Outstanding): n/a n/a 03/04/2024 n/a
Funding Option: n/a n/a 03/04/2024 n/a
Documentation: none PRODUCER 05/31/2024 n/a
Future MCap Modifier: 0.15
Producer: Average
 0.15
Producer: Average
 04/24/2023 0
Cash Flow Multiplier: 15 12 03/31/2024 -3.00

Resource Data

GOLD 03/04/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.50M 0.50M 03/04/2024 0.00M
Measured & Indicated: 2.00M 2.00M 03/04/2024 0.00M
Inferred: 1.00M 1.00M 03/04/2024 0.00M
Reserves & Resources: 3.00M 3.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.40M 0.40M 03/04/2024 0.00M
Measured & Indicated: 1.36M 1.36M 03/04/2024 0.00M
Inferred: 0.40M 0.40M 03/04/2024 0.00M
Reserves & Resources: 1.76M 1.76M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
135,000oz.		 (guess) 
135,000oz.		 03/04/2024 0oz.
Cash Cost: $1,250 $1,250 03/04/2024 $0.00
Extra Operating Cost: $550 $550 03/04/2024 $0.00
Total: $1,800 $1,800 03/04/2024 $0.00
Margin (Free Cash Flow): $311 (15%) $814 (31%) $503.20
G
R
A
D
E		 Underground (Avg): 1.00 g/t 4.00 g/t 03/23/2024 3.00 g/t
Open Pit (Avg): n/a 1.00 g/t 03/23/2024 1.00 g/t
Recovery Rate: (CG)  80.00% (CG)  80.00% 05/31/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: 2.00M 2.00M 03/04/2024 0.00M
Annual Production: 150,000oz. 150,000oz. 03/04/2024 0oz.
Cash Cost: $1,350 $1,350 03/04/2024 $0
Extra Operating Cost: $550 $550 03/04/2024 $0
SILVER 03/04/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 03/04/2024 0.00M
Measured & Indicated: n/a n/a 03/04/2024 0.00M
Inferred: n/a n/a 03/04/2024 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 03/04/2024 0.00M
Measured & Indicated: n/a n/a 03/04/2024 0.00M
Inferred: n/a n/a 03/04/2024 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 03/04/2024 $0.00
Extra Operating Cost: n/a n/a 03/04/2024 $0.00
Total: n/a n/a 03/04/2024 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 03/04/2024 n/a
Open Pit (Avg): n/a n/a 03/04/2024 n/a
Recovery Rate: n/a n/a 05/31/2024 15.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 03/04/2024 0.00M
Annual Production: n/a n/a 03/04/2024 n/a
Cash Cost: n/a n/a 03/04/2024 n/a
Extra Operating Cost: n/a n/a 03/04/2024 n/a

Property

Last Analysis Data  (03/04/2024)
Stage Name Owned Au Ag Cu Notes
Prod San Jose 49% n/a
Prod Black Fox / Grey Fox 100% show
2.3 million oz.

Acquired from Primero.
Exp El Gallo - Fenix 100% show
Developing.

6 million oz of silver annually.

$150 million capex.
Dev Gold Bar 100% show
Currently permitting.

Planning to produce 50,000 oz per year.
Current Data
Stage Name Owned Au Ag Cu Notes
Prod San Jose 49% n/a
Prod Black Fox / Grey Fox 100% show
2.3 million oz.

Acquired from Primero.
Exp Eureka - Lookout Mountain 100% show
Drilling
Exp El Gallo - Fenix 100% show
Developing.

6 million oz of silver annually.

$150 million capex.
Dev Gold Bar 100% show
Currently permitting.

Planning to produce 50,000 oz per year.
Exp Paiute - Battle Moutian 80% show
Early exploration
Exp Seven Troughs 100% show
Early exploration
Total Land Package Size (ha): 7,950  

Profitability (by resource)

Proven &
Probable		 03/04/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.50M 0.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.86M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.40M 0.40M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.49M
Maximum Profit (Gold): $124.48M $325.76M n/a $201.28M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $124.48M $325.76M n/a $201.28M
Max Profit / Current MCap: 0.299 0.639 n/a 0.340
Max Profit Per Share (Gold): $2.33 $6.10 n/a $3.77
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.33 $6.10 n/a $3.77
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $1,042.09 $1,274.26 n/a $232.17
FD MCap / Silver Eq.: $11.67 $14.89 n/a $3.22
FD MCap / Per Metal
as % Spot Price:		 49.36% 48.74% n/a -0.62%
Measured &
Indicated		 03/04/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -7.46M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.36M 1.36M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -5.07M
Maximum Profit (Gold): $423.23M $1,107.58M n/a $684.35M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $423.23M $1,107.58M n/a $684.35M
Max Profit / Current MCap: 1.015 2.173 n/a 1.158
Max Profit Per Share (Gold): $7.93 $20.75 n/a $12.82
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $7.93 $20.75 n/a $12.82
Total Free Profit Per Share: $0.12 $11.20 n/a $11.08
FD MCap / Gold Eq.: $306.50 $374.78 n/a $68.28
FD MCap / Silver Eq.: $3.43 $4.38 n/a $0.95
FD MCap / Per Metal
as % Spot Price:		 14.52% 14.34% n/a -0.18%

Reserves &
Resources		 03/04/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 3.00M 3.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -11.19M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.76M 1.76M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -6.56M
Maximum Profit (Gold): $547.71M $1,433.34M n/a $885.63M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $547.71M $1,433.34M n/a $885.63M
Max Profit / Current MCap: 1.314 2.812 n/a 1.498
Max Profit Per Share (Gold): $10.26 $26.86 n/a $16.59
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $10.26 $26.86 n/a $16.59
Total Free Profit Per Share: $2.45 $17.31 n/a $14.85
FD MCap / Gold Eq.: $236.84 $289.60 n/a $52.77
FD MCap / Silver Eq.: $2.65 $3.38 n/a $0.73
FD MCap / Per Metal
as % Spot Price:		 11.22% 11.08% n/a -0.14%

Future Valuation (Cash Flow & Totals)

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