McEwen Mining Inc. engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina. The company also explores for copper deposits. It primarily owns a 100% interest in the Gold Bar mine in Eureka County, Nevada; the Black Fox gold mine in Ontario, Canada; the El Gallo Project and Fenix silver-gold project in Sinaloa, Mexico; the Los Azules copper deposit in San Juan, Argentina; and a portfolio of exploration properties in Nevada, Canada, Mexico, and Argentina. It also owns a 49% interest in the San José mine located in Argentina. The company was formerly known as US Gold Corporation and changed its name to McEwen Mining Inc. in January 2012. McEwen Mining Inc. was incorporated in 1979 and is headquartered in Toronto, Canada.
Score
—Data Quality
Market Cap
N/A
Total valuation
Stock Price
N/A
Latest close
Free Cash Flow
N/A
Annual
Financial Position
N/A
Cash position
PEG Ratio
ⓘN/A
P/E ÷ growth
Score breakdown, criteria, red flags, bull/base/bear scenarios.
SubscribeJurisdiction exposure, project portfolio, cost structure.
SubscribeLegal Entity
Mcewen Mining Inc
Sector
Precious Metal
Founded
January 29, 2018
Employees
1,864
Reporting Currency
USD
Contact Phone
16472580395
Website
www.mcewenmining.comHeadquarters Address
150 King Street West , Toronto , ON M5H 1J9 , CA
Identifiers
ISIN
US58039P3055Interactive chart powered by TradingView. Use the chart tools to analyze price trends.
Price reaction is noise: the host reads value from discoveries and says only assays confirm grade, not visual core. Decade's Bonaparte project in British Columbia hit porphyry in every hole reaching bedrock, with assays still pending. Onyx Gold found sediment-hosted gold three kilometres south of Argus, extending the search along a northeast-trending Abitibi fault corridor. Revival Gold's high grades holding near 800 metres depth support continuity at Joss, ahead of a targeted 2027 PFS. Algo Grande's skarn — rock the intrusion has altered — points to a deeper porphyry, with gravity surveys set to target drilling along a seven-kilometre corridor.
Empress Royalty earned $17 million in 2025 and $17 million more in the first half of 2026, funding larger streaming deals. An Appian debt facility adds $20 million for new deals as the company builds a full-spectrum royalty and streaming portfolio. A July royalty package from Almodex added exploration-stage exposure to operators including Westhaven Gold, Kodiak Copper, and McEwen Mining. Management prioritizes proven operators and uses streams rather than simple royalties across Africa and South America. Royalty and streaming firms provide upfront capital to small and mid-tier miners in exchange for a share of revenue or metal deliveries.
Emperor Metals paid for this interview, so every project figure here is the company's own promotional case, not independent verification. The guest says machine-learning grade models added 20% more gold through Detour Lake's mill at the same rock tonnage. Lac Pelletier sits at 227,000 ounces; the guest targets 400,000 and pushed production to late 2028 after a Quebec engineer strike. Duquesne West's 1.46 million ounces are all inferred; the guest's deeper vision shifts from three-to-five million ounces to two-to-three times, then three-to-ten. Treasury holds about $5 million, drilling restarts mid-October, and roughly 40% of the last program's assays remain outstanding.
Mercado's 25-hole, 3,000-metre summer program at Copolito extended cumulative vein strike from 8 km to 11 km with multiple open high-grade targets. A new 1,100-metre Renata vein discovery at Copolito and an undrilled 750-metre La Franca-Campanillas corridor at Zamora expand the pipeline. Zamora surface grab samples returned 14.5 kg/t silver and 15.5 g/t gold from a project that has never been drilled. Restoring ~3,000 Zamora hectares to good standing in early 2027 is the gating step before first-hole drilling there. Visla is named as a strategic investor from last year's financing, helping anchor Mercado's roughly 76 million shares outstanding.
Maiden drilling at the never-drilled Zamora silver gold project in Mexico is expected within two months. Coppolito Phase 1 wrapped with 3,000m and 25 holes, expanding the drill ready strike at the new La Renata vein. The CEO is buying shares on the open market, signaling insider confidence at current valuations. A technical team with Vizsla Panuco and Napoleon discovery credits underpins the Sierra Madre exploration thesis. Management is fully funded for upcoming drilling, with first results expected early in the new year.
The guest argues Canada is finally welcoming mining, citing better permitting and a rapid depreciation boost for operators. The guest says Los Azules, one of the top 10 undeveloped copper projects globally, targets a year-end final investment decision. The San José joint venture in Argentina has returned over $50M in dividends recently, with more expected later this year on higher metal prices. The guest sees more copper upside as electrification, AI demand, and growing Asian cities absorb the next wave of supply. Gold output is scaling — Timmins extended by Gray Fox, Gold Bar now running seven days a week — toward a 250–300k-ounce 2030 target.
Silver has bottomed after roughly halving from January highs near $120 to the $60-70 range, the guest argues, with higher prices ahead. Mercado's completed 25-hole Copalito drill program grew principal veins from six to eight and strike length from 8 km to 11 km. Highlights include 6.5 m at 372 g/t silver-equivalent and 7.6 m at 434 g/t silver-equivalent at Cinco Sinoroz, plus best-ever El Agua intercepts. The Zamora project has never been drilled; chip sampling returned 2.4 m of 536 g/t silver-equivalent and 1 m of 828 g/t silver. Mercado credits its in-country staff and community ties for safe operating access in Sinaloa, where security concerns have slowed peers.
McEwen's Gray Fox study models 15 years of Ontario gold, 1 million reserved ounces, and $2,212 per ounce AISC — the all-in cost of an ounce. At $4,500 gold the same study lifts Gray Fox to a 55% return and 2.3-year payback, against 25% and 4.6 years at $3,000. Nevada's Lookout Mountain and Windfall ounces sit in oxide mineralization that heap leaching recovers cheaply, with estimates still limited to the open pit. Las Azulis copper targets $2.11 per pound life-of-mine costs against copper above $6, and McEwen, Stellantis, Rio Tinto and Rob McEwen hold about 96%. Thin US-listing volume near $1.2 million a day leaves the stock cheap on the host's view of a 2030 goal of 250,000-300,000 gold-equivalent ounces.
Kirkland Lake Discoveries' Marado gold system now reads as two targets: wide near-surface open-pit material plus high-grade underground vein potential. The 18.99 grams per tonne hit over 6.7 metres is orogenic (structurally controlled vein) gold, the grade profile underground mines chase. Near-surface runs of 0.5-1 grams per tonne beat the open-pit industry average, which sits just under half a gram per tonne. The host reads the deposit as plumbing: cracks channel gold-bearing fluids up into sponge-like permeable rock, which spreads mineralization wide. Catalysts stack up fast - 16 hole results pending, a regional drill permit secured, and untested ground 500 metres west.
Bond prices at yearly lows are pushing yields up, and the host reads that as a strong bearish driver for gold and gold stocks. Gold fell 2.4% and the VanEck Junior Gold Miners ETF dropped 3.1%, while crude jumped 5.4% on Middle East supply risk. The host argues computers now trade the day's narrative, ignoring the slower inflation and debt signals that favor gold. He puts US debt service costs on a path toward $2 trillion within a year, framing that as the core long-term case for gold. Kirkland Lake Discoveries and McEwen Mining are teased for separate deep dives, with no company fundamentals covered here.
Mayfair Gold argues its Fenn-Gibb project's location beside the Timmins mining camp gives it experienced regulators, labour and local support. Skilled mining labour sits less than an hour away in Timmins, with additional workers available in Cochrane, Matheson and Kirkland Lake. Highway access across the property and power within 17 kilometres reduce the practical cost of advancing Fenn-Gibb toward production. CEO Drew Anwyll says Mayfair wants to work with neighbour McEwen so both adjacent operations can succeed.
Citi cut its three-month gold forecast to $4,000 but held its 12-month target at $4,500, signaling a flatter summer, not a broken bull market. Jefferies raised its long-term copper forecast to $6.50 a pound by 2027, projecting a 500,000-ton annual global deficit to 2030. Volta Metals' Springer drill hole, 688 meters of continuous rare earth and gallium mineralization, plus 88% first-pass flotation recovery point to lower processing costs. A2Gold unified its Nevada Taylor district by acquiring in-fill claims and hit 10.5 g/t gold in surface sampling at Eastside's Black Rock target. McEwen Mining's Gray Fox pre-feasibility study adds 87,000 ounces of annual gold production from 2028, extending the Fox complex to 2041 with little share dilution.
Mayfair Gold's Fenn-Gib project in Ontario shows strong economics with a $652M after-tax NPV (Net Present Value — the present value of future cash flows) and a 2.7-year payback period. The 4.3 million-ounce gold project targets average annual production of roughly 64,000 ounces over a 14.3-year mine life. Drew Anwyll emphasizes using existing infrastructure in the Timmins gold district to advance the project toward production with capital discipline.
Rick Rule argues resource equities remain reasonably priced after two years of gains, but a 2008-style liquidity crisis could force overexposed investors to sell. Consolidation keeps rewarding shareholders: mergers cut duplicated overhead, and larger miners gain index inclusion, passive buying, and a lower cost of capital. Oil's move from $65 to $105 is anticipatory pricing for rationing, so an unresolved conflict points to higher energy prices ahead. Copper holding firm despite oil-driven slowdown and speculator selling defies Rule's expectations, an anomaly he flags without claiming an answer. In the Q&A, Rule calls Cameco's flood a buying opportunity, favors debt-free Uranium Energy, and explains net present value's blind spots on tier-one deposits.
Rule argues resource equities are not excessive despite two years of gains, but liquidity-crisis risk means checking your own exposure. Mining consolidation looks set to continue; Rule favors owning likely takeover beneficiaries because mergers cut overhead and lower capital costs. Rule calls Cameco's flood-driven sell-off a buying opportunity, since a three-month outage barely dents reserves measured in decades. Build NPV (net present value — discounted future cash flow) from measured and indicated resources only, then add back optionality for growth and tail. Development-stage mining assets deserve a basket approach across several names, Rule says, never a single speculative position.
Amex Exploration's Perron feasibility study shows how grade and low capex create value: $1.13B after-tax NPV at $3,500 gold and about a half-year payback. AISC (all-in sustaining cost — what an ounce really costs to produce) near $910 and third-party toll milling keep Perron buildable without heavy upfront infrastructure. Tectonic Metals founder Tony Reda explains raising roughly $100M after one drill year at the Flat project, a camp-scale Alaska gold play beside 40M-ounce Donlin. Dig This Deal pitches: Kootenay Silver offers 400M silver ounces ahead of its first PEA (preliminary economic assessment); copper picks highlight jurisdiction risk. Takeaways for any junior: net asset value (NAV) to capex ratios gauge financeability, strip ratios rival grade, and buildable projects make the best takeover candidates.
McEwen's all-stock acquisition of Golden Lake at a 60% premium validates the closeology thesis for penny juniors sitting next to producing mines. Golden Lake's Jewel Ridge claims sit adjacent to McEwen's Eureka/Gold Bar complex, sandwiched next to the Windfall and Lookout Mountain discoveries. Junior deal premia dwarf typical mining M&A: Core/New Gold at 16%, Fresnillo/Probe Gold at 39%, IAMGOLD/Northern Superior at 27%. McEwen's 2025 plan calls for 36,000 meters of drilling in Nevada, with Eureka central to extending Gold Bar's mine life.
Silver's 40% pullback and gold's 20% drop erased only January's gains — a healthy reset inside a still-intact bull market, Dave says. Mining stocks fell just 10-15% on a selloff that cut silver and gold 30-40%, a muted leverage Dave reads as a possible bottom signal. With the SIL-to-silver ratio at a spike low after the correction, Dave expects silver miners to re-rate sharply into Q4 earnings. M&A is heating up: Eldorado is taking out Foran, McEwen added a Nevada asset, and Zijin agreed to buy Allied Gold for $4B cash. Dave advises investors accumulate in tranches during bull-market pullbacks rather than wait for a perfect bottom.
Goliath's 2025 drill program intersected gold in 100% of 110 holes, with 92% of holes showing visible gold across five mineralized zones at Golddigger. The company fast-tracked 100% ownership of Golddigger and cut the NSR royalty from 3% to 2%, opening takeover optionality for any future suitor. Management pushed the maiden resource estimate deadline to June 2030, preferring aggressive exploration over fencing in ounces too early. Cornerstone holders Rob McEwen and Crescat Capital increased stakes; McEwen Mining (MUX) shares held by Goliath have roughly tripled on paper. A ~$60M cash position, plus $6.5M from McEwen warrants, fully funds a 50,000-meter-plus 2026 drill program focused on Surebet.
The Deep Dive examines McEwen Mining's roughly $12 million all-stock acquisition of Golden Lake Exploration at a reported 60% premium, framing it as a textbook closeology play that adds Jewel Ridge ground next to McEwen's Gold Bar complex in the Eureka district.
McEwen Buys Golden Lake | A Small Deal With a Big Lesson Read article A room for resource investors taking shape now — independent, spam-free, no hype.