ETF Movers on Thursday: SILJ, REMX
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 16 2025
0mins
Should l Buy MUX?
Source: NASDAQ.COM
ETF Performance: The VanEck Rare Earth/Strategic Metals ETF is down approximately 4.8% in Thursday afternoon trading, underperforming compared to other ETFs.
Weakest Components: Key contributors to this decline include Lithium Americas, which fell by about 18.9%, and Lithium Argentina, which decreased by around 9.7%.
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Analyst Views on MUX
Wall Street analysts forecast MUX stock price to fall
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 24.500
Low
21.00
Averages
22.00
High
23.50
Current: 24.500
Low
21.00
Averages
22.00
High
23.50
About MUX
McEwen Inc is a gold and silver mining production and exploration company. The Company is also involved in a copper development project. Its operations sites include San Jose Mine, Fox Complex, Gold Bar mine, El Gallo Complex, Project Fenix, Los Azules, and Fox West. The San Jose mine is located in the northwest corner of the Deseado Massif region, approximately 20 kilometers north of Newmont's Cerro Negro mine. The Fox Complex is located in the Timmins Gold Mining Camp in Northern Ontario, Canada. The Gold Bar Mine is located in the southern Roberts Mountains of the Battle Mountain-Eureka-Cortez gold trend in Eureka County, Central Nevada. The El Gallo Complex is located in Mexico’s Sinaloa State, along the foothills of the Sierra Madres Occidental mountain range. The Fox West properties are located in the heart of Timmins Gold Camp in northern Ontario, Canada. The Company also holds an interest in Tartan Lake Gold Mine Project, which is located in the province of Manitoba, Canada.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Share Acquisition: Goliath Resources has received TSXV approval to issue 3 million common shares to J2 Syndicate, successfully acquiring a 51% interest in the Golddigger property, now holding 100% ownership, which strengthens its market position in the Golden Triangle.
- Net Smelter Return Adjustment: The agreement reduces the net smelter return from 3% to 2%, decreasing future financial burdens and enhancing project profitability, thereby attracting more investor interest.
- Resource Estimate Requirement: Under the amended agreement, Goliath is required to publish a mineral resource estimate by June 1, 2030, and update it every three years, which will enhance the company's transparency and accountability in resource development.
- Warrant Expiration: Goliath will not proceed with extending the expiry date of warrants issued to McEwen Inc., as the TSXV did not approve the request, resulting in 2,590,673 warrants expiring on March 10, 2026, potentially impacting the company's short-term financing capabilities.
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- Equity Acquisition: Goliath Resources has received TSXV approval to issue 3 million common shares to J2 Syndicate, successfully acquiring a 51% interest in the Golddigger property, now holding 100% ownership, which strengthens its market position in the Golden Triangle.
- Reduced NSR: The agreement allows Goliath to lower the Net Smelter Return from 3% to 2%, directly enhancing future profitability and boosting investor confidence in the company's financial outlook.
- Resource Estimate Requirement: Under the amended agreement, Goliath is required to publish a mineral resource estimate by June 1, 2030, and update it every three years, providing a long-term development roadmap that ensures ongoing investment appeal.
- Warrant Expiration: Goliath has opted not to extend the expiry of warrants held by McEwen Inc., with 2,590,673 warrants set to expire on March 10, 2026, reflecting the company's commitment to shareholder rights and regulatory compliance.
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- Conference Call Announcement: McEwen Inc. is set to hold its Q4 and year-end 2025 conference call on March 12, 2026, at 3:00 PM EDT, where management will discuss financial results and project developments, likely drawing significant investor interest.
- Investor Engagement Opportunity: The call will feature a Q&A session allowing participants to ask questions directly over the phone, enhancing interaction between the company and its investors, thereby increasing transparency and trust.
- Significant Copper Project Value: McEwen's Los Azules copper development project in Argentina has an implied value of $456 million and is expected to become one of the world's first regenerative copper mines, aiming for carbon neutrality by 2038, showcasing the company's strategic focus on sustainability.
- Executive Personal Investment: Chairman and Chief Owner Rob McEwen has personally invested over $250 million and takes a salary of $1 per year, aligning his interests with shareholders and demonstrating his commitment to the company's long-term growth.
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- Warrant Extension: Goliath Resources has applied to extend the expiry date of 2,590,673 warrants from March 10, 2026, to September 10, 2026, maintaining an exercise price of $2.50 per warrant, aimed at enhancing investor confidence and providing flexibility for future financing.
- Strategic Financing Context: These warrants were initially issued in connection with a $10 million non-brokered private placement on March 10, 2025, reflecting the company's active engagement in capital markets and its funding needs for future projects.
- Exploration Progress: Goliath completed its largest drilling campaign to date in 2025, totaling 64,364 meters, showcasing its exploration potential in the Golden Triangle, with plans for a similarly scaled drilling program in 2026 to further advance resource assessment.
- Stable Shareholder Structure: The company boasts a strong base of strategic shareholders, including Crescat Capital and McEwen Inc., which enhances its capital foundation and market credibility, providing robust support for future project development.
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- Warrant Extension: Goliath Resources has applied to extend the expiry date of 2,590,673 common share purchase warrants from March 10, 2026, to September 10, 2026, maintaining an exercise price of $2.50 per warrant, aimed at providing the company with greater financing flexibility.
- Strategic Financing Context: These warrants were originally issued in connection with a $10 million non-brokered private placement on March 10, 2025, highlighting the company's active engagement in capital markets and its partnership with McEwen Inc.
- Exploration Progress: Goliath completed its largest drilling campaign to date in 2025, totaling 64,364 meters, showcasing its exploration potential in the Golden Triangle, with plans for a similarly scaled drilling program in 2026 to further advance resource development.
- Stable Shareholder Base: The company’s key strategic shareholders include Crescat Capital and McEwen Inc., ensuring a stable source of funding and support for future projects, thereby enhancing market confidence.
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- Metallic Mineralization Increase: Goliath reports a 19.6% average increase in metallic mineralization across 56 drill holes in 2025, including high-grade intercepts of 24.16 g/t AuEq over 7 meters, indicating significant resource potential in the area.
- Expanded Drilling Scale: The 64,364 meters drilled in 2025 have significantly expanded the vein system at the Surebet discovery, with over 156,000 meters drilled to date, demonstrating mineralization continuity and future expansion potential.
- High Recovery Rates: Metallurgical testing through gravity and flotation yielded recoveries of 92.2% for gold, 86.5% for silver, 94.2% for lead, and 96.9% for zinc, indicating favorable metallurgical characteristics of the ore suitable for economic extraction.
- Future Drilling Plans: Goliath is fully funded for its 2026 drilling program, focusing on expanding the five main mineralized zones, with expectations to further confirm the presence of the Motherlode source, thereby driving resource growth.
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