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McEwen Mining Inc. (0JZT.L)

LSE - LSE Delayed price. Currency in USD
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3.1000+0.2200 (+7.64%)
At close: 06:36PM BST

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  • B
    Ben
    I am waiting for the next $5,000 per ounce of gold prediction!
  • P
    Paul
    Recent offering of @ $10...

    "The total Offering has been increased to 8,185,000 common shares, with the amounts raised in the three tranches of the private placement totalling $81.85 million."

    I think this is a good news but stock is still @ $3...

    Any comment?
  • P
    Phil
    Rob is feeling great now that he's taking Dovato.
  • J
    Jazenevc
    Rio Tinto pays $25M to get about 10% of Los Azules. MUX owns 68%, it can be valued, based on Rio investment, as $170M. Market cap is $145M, it means “gold assets” are valued as negative $25M. Sounds about right, though a bit ironic.
  • C
    Celty
    10 more dollars and I am even! lol
  • C
    Celty
    Rio all over this lately.
  • A
    Anonymous
    Ian Ball for CEO NOW!
  • j
    john
    @celty. I’m in Pure. After tough first 18 months I think they have the mine in working order . Very cheap stock especially if ultimate resource is 10 million oz . 5x the current resource. Could be worth anywhere between $1.00 and $2.00 . IMO
  • C
    Celty
    I wish I had never heard of Los Azules. It's the sole reason I took a chance. I never guessed the other properties would be a chronic failure to boot.
  • L
    Larry
    Real value is only .30 cents, remember when I said to all of you to fire all board of directors of (MUX) have you done that I bet that (MUX) would be trading a lot higher than this. not too late to fire everyone in charge at (MUX)
  • J
    Jeffrey F
    I'm still amazed at individuals still clinging on hope for this disaster of a mining company.
  • C
    Celty
    This play is far from over. Bad news is, it's far far from anything.
  • A
    AABBLE BONZ
    Even at 12
  • R
    RedMetalMountain
    After 7 years of investment, I’m down around 90% or more.Each year continues to get worse no matter what Rob tries to do.I’m not going to bother selling but I highly doubt I will ever fully recover my losses here.As far as the copper …it’s always been the dangling carrot.Rob will never get what it’s worth because everyone knows he can’t afford to build out the project.Low ball offers are all he’s ever going to see.They will just wait until MUX is completely bankrupt.
  • J
    JAG
    all is good with rob....remember he is part of a 50 million loan payable to him at i think 11% payable in stock....the interest payment is about 6 million a year......today about 2 million shares a year.....he could have pledge company assets instead he decided to lend the money.....but if out copper asset is worth what he thinks ....why is the company borrowing from rob at 11%
  • B
    Bregt14
    This has to be a joke.
    In Q2/22, we reported a net loss of $12.4 million (or $0.26 per share) compared to a loss of $6.0 million (or $0.13 per share) in Q2/2021. The current net loss includes $19.2 million of expenditures on exploration activities and advanced projects of which $14.5 million was related to expenditures for the Los Azules project and $4.7 million on the continued exploration at our Canadian, US and Mexico operating sites.

    Cash gross profit (a non-GAAP measure) of $7.7 million for Q2/22 decreased by $1.9 million from the $9.6 million cash gross profit recorded in Q2/21. The decrease in cash gross profit of $1.9 million is attributed to decreased revenue by $10.1 million partially offset by lower production costs of $8.1 million during Q2/22 as compared to Q2/21. Please see Results of Operations section.

    Production from our 100% owned mines of gold equivalent ounces (GEOs) in Q2/22 decreased from Q2/21: 16,565 versus 22,475 GEOs respectively.

    Our share of the San José mine production was 20,921 GEOs in Q2/22, which was 15% higher than the 18,200 GEOs produced in Q2/21. During Q2/22, COVID-19 continued to have an impact on operations similar to the same period in 2021.

    CONSOLIDATED OPERATIONS REVIEW

    Revenue from gold and silver sales in Q2/22 of $30.6 million decreased by 25% or $10.1 million compared to Q2/21 of $40.7 million. The lower revenue in Q2/22 compared to Q2/21 is attributable to the decrease GEOs sales offset by slight increase in realized gold price which was $35/oz higher year over year.

    Production Costs applicable to sales in Q2/22 decreased by 26% or $8.2 million compared to Q2/21. The decrease is driven by production costs at all of our operations. This is discussed further in the “Operations Review” section.

    Advanced projects costs for Q2/22 of $14.9 million, increased from the $0.8 million, spent in Q2/21. Costs during Q2/22 were largely driven by expenditures to advance the Los Azules Copper Project. Costs during Q2/21 included continued spending for the Fox Complex expansion PEA, and the Fenix project in Mexico however there were no costs to advance the Los Azules project in the same period last year.
  • D
    Donald
    I put in what I thought was a low ball bid this morning. Turns out it was not low enough. I knew I should have stayed away from this stock.

    🤨
  • J
    Jazenevc
    Rio Tinto involvement in Los Azules suggests possible future scenario. MUX will gradually sell more shares to Rio to cover losses on gold side. Perhaps, Rio would be interested to buy the whole thing at once, but MUX will likely get more money and last longer by selling gradually.
  • R
    RLS
    Fact to ponder MUX has loss 96% of its value since 2011.
  • S
    Sunbakd
    How much money did Rob lose shareholders this quarter?