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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 ~$467.01M which is a rise of roughly 12% over the last nine 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
Item Value Value Updated
MCap (FD): $416.84M $467.01M 03/04/2024
Total Assets: $500.00M $500.00M 03/04/2024
Total Liabilities: $125.00M $125.00M 03/04/2024
Current Assets: $22.00M $22.00M 03/04/2024
Current Liabilities: $36.00M $36.00M 03/04/2024
Total Debt: $40.00M $40.00M 03/04/2024
Cash: $22.00M $22.00M 03/04/2024
Enterprise Value: $434.84M $485.01M 05/15/1985
Cash Flow: $42.01M $113.17M never
Cash Flow Multiple: 9.92 4.13 never
Net Debt to
Cash Flow Ratio:		 0.43 0.16 never
Finance within 1 year: 03/04/2024
Misc 03/04/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 49,439,696 49,439,696 03/04/2024
Shares (FD): 53,372,082 53,372,082 03/04/2024
Insider Ownership: n/a 20% 11/15/2024
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a n/a 03/04/2024
Production (Gold Eq Oz.): (guess) 
135,000		 (guess) 
135,000		 03/04/2024
Production (Silver Eq Oz.): (guess) 
12,056,345		 (guess) 
11,368,353		 03/04/2024
Initial CapEx (Outstanding): n/a n/a 03/04/2024
Funding Option: n/a n/a 03/04/2024
Documentation: none PRODUCER 11/15/2024
Future MCap Modifier: 0.15
Producer: Average
 0.15
Producer: Average
 04/24/2023
Cash Flow Multiplier: 15 12 03/31/2024

Resource Data

GOLD 03/04/2024
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.50M 0.50M 03/04/2024
Measured & Indicated: 2.00M 2.00M 03/04/2024
Inferred: 1.00M 1.00M 03/04/2024
Reserves & Resources: 3.00M 3.00M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.40M 0.40M 03/04/2024
Measured & Indicated: 1.36M 1.36M 03/04/2024
Inferred: 0.40M 0.40M 03/04/2024
Reserves & Resources: 1.76M 1.76M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
135,000oz.		 (guess) 
135,000oz.		 03/04/2024
Cash Cost: $1,250 $1,250 03/04/2024
Extra Operating Cost: $550 $550 03/04/2024
Total: $1,800 $1,800 03/04/2024
Margin (Free Cash Flow): $311 (15%) $838 (32%)
G
R
A
D
E		 Underground (Avg): 1.00 g/t 4.00 g/t 03/23/2024
Open Pit (Avg): n/a 1.00 g/t 03/23/2024
Recovery Rate: (CG)  80.00% (CG)  80.00% 11/15/2024
F
U
T
U
R
E		 Proven & Probable: 2.00M 2.00M 03/04/2024
Annual Production: 150,000oz. 150,000oz. 03/04/2024
Cash Cost: $1,350 $1,350 03/04/2024
Extra Operating Cost: $550 $550 03/04/2024
SILVER 03/04/2024
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 03/04/2024
Measured & Indicated: n/a n/a 03/04/2024
Inferred: n/a n/a 03/04/2024
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 03/04/2024
Measured & Indicated: n/a n/a 03/04/2024
Inferred: n/a n/a 03/04/2024
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 03/04/2024
Extra Operating Cost: n/a n/a 03/04/2024
Total: n/a n/a 03/04/2024
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 03/04/2024
Open Pit (Avg): n/a n/a 03/04/2024
Recovery Rate: n/a n/a 11/15/2024
F
U
T
U
R
E		 Proven & Probable: n/a n/a 03/04/2024
Annual Production: n/a n/a 03/04/2024
Cash Cost: n/a n/a 03/04/2024
Extra Operating Cost: n/a n/a 03/04/2024

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
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 0.50M 0.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.40M 0.40M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $124.48M $335.32M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $124.48M $335.32M n/a
Max Profit / Current MCap: 0.299 0.718 n/a
Max Profit Per Share (Gold): $2.33 $6.28 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.33 $6.28 n/a
Total Free Profit Per Share: $0.00 $0.00 n/a
FD MCap / Gold Eq.: $1,042.09 $1,167.51 n/a
FD MCap / Silver Eq.: $11.67 $13.86 n/a
FD MCap / Per Metal
as % Spot Price:		 49.36% 44.25% n/a
Measured &
Indicated		 03/04/2024
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 2.00M 2.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.36M 1.36M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $423.23M $1,140.09M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $423.23M $1,140.09M n/a
Max Profit / Current MCap: 1.015 2.441 n/a
Max Profit Per Share (Gold): $7.93 $21.36 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $7.93 $21.36 n/a
Total Free Profit Per Share: $0.12 $12.61 n/a
FD MCap / Gold Eq.: $306.50 $343.39 n/a
FD MCap / Silver Eq.: $3.43 $4.08 n/a
FD MCap / Per Metal
as % Spot Price:		 14.52% 13.02% n/a

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

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.76M 1.76M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $547.71M $1,475.41M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $547.71M $1,475.41M n/a
Max Profit / Current MCap: 1.314 3.159 n/a
Max Profit Per Share (Gold): $10.26 $27.64 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $10.26 $27.64 n/a
Total Free Profit Per Share: $2.45 $18.89 n/a
FD MCap / Gold Eq.: $236.84 $265.34 n/a
FD MCap / Silver Eq.: $2.65 $3.15 n/a
FD MCap / Per Metal
as % Spot Price:		 11.22% 10.06% n/a

Future Valuation (Cash Flow & Totals)

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