McEwen Inc. Reports 2025 Grey Fox Mineral Resource Estimate of 1.892 Million Ounces of Gold
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
0mins
Should l Buy MUX?
Source: Newsfilter
- Resource Estimate Growth: The 2025 Mineral Resource Estimate for the Grey Fox project indicates 1.892 million ounces of indicated gold and 436,000 ounces of inferred gold, representing a 23% increase in indicated resources compared to 2024, which strongly supports the company's future production goals.
- New Drilling Results: Recent drilling results obtained after the resource estimate cut-off show gold grades as high as 10.1 g/t, indicating further resource growth potential, with a budget of $5 to $10 million allocated for drilling in 2026 to validate and expand resources.
- Balancing Mining Methods: The company is balancing underground and open-pit mining methods to optimize resource estimates, with plans to detail this strategy in the upcoming Pre-Feasibility Study, aimed at maximizing long-term project value.
- Stroud Project Integration: The Stroud project, acquired in 2024, contains a historical resource of approximately 270,000 ounces, which is expected to be incorporated into future resource updates, further enhancing the resource base of the Grey Fox project.
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Analyst Views on MUX
Wall Street analysts forecast MUX stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 20.400
Low
21.00
Averages
22.00
High
23.50
Current: 20.400
Low
21.00
Averages
22.00
High
23.50
About MUX
McEwen Inc. is a gold and silver mining production and exploration company. It is involved in a copper development project. Its operations sites include San Jose Mine, Fox Complex, Gold Bar mine, El Gallo Complex, Project Fenix, and Los Azules. The San Jose mine is in the northwest corner of the Deseado Massif region, over 20 kilometers north of Newmont's Cerro Negro mine. The Fox Complex is in the Timmins Gold Mining Camp in Northern Ontario, Canada. The Gold Bar Mine is in the southern Roberts Mountains of the Battle Mountain-Eureka-Cortez gold trend in Eureka County, Central Nevada. The El Gallo Complex is in Mexico’s Sinaloa State, along the foothills of the Sierra Madres Occidental mountain range. Fox West properties are in the heart of Timmins Gold Camp in northern Ontario, Canada. It holds an interest in Tartan Lake Gold Mine Project, which is in the province of Manitoba, Canada. It also holds Jewel Ridge and Jewel Ridge West projects and Lookout Mountain discoveries.
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.
McEwen Inc. Invites Participation in Q1 2026 Earnings Call
- Earnings Call Announcement: McEwen Inc. will hold its Q1 2026 earnings call on May 7, 2026, at 11:00 AM EDT, where management will discuss financial results and project developments, potentially boosting investor confidence in the company's future prospects.
- Investor Engagement Opportunity: Participants can ask questions directly over the phone, enhancing interaction between investors and management, which increases transparency and helps shareholders better understand and support the company's strategic direction.
- Copper Project Valuation: The implied value of McEwen's Los Azules copper development project in Argentina is $456 million, indicating the company's potential in copper resource development, which is expected to provide significant support for future revenue growth.
- 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 and confidence in the company's long-term development.
See More
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- Compliance Review: The report, prepared by Global Resource Engineering, underwent verification by qualified personnel, ensuring data reliability and adherence to industry standards, thereby providing confidence to investors.
- Mining Development Outlook: The release of the technical report for the Tartan Mine Project further solidifies McEwen's mining development strategy in Canada, expected to attract more investments and enhance market competitiveness.
- Diversified Investment Portfolio: McEwen Inc. not only focuses on gold and silver production but also holds a 46.3% stake in McEwen Copper, demonstrating its strategic positioning across various mineral resources and strengthening its status in the global mining market.
See More
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- Earnings Call Scheduled: McEwen Inc. will hold its Q1 2026 earnings call on May 7, 2026, at 11:00 AM EDT, where management will discuss financial results and project developments, potentially boosting investor confidence in the company's future prospects.
- Investor Engagement Opportunity: The call will feature a Q&A session allowing participants to ask questions directly over the phone, enhancing interaction between investors and management, thereby increasing transparency and trust.
- Copper Project Development: The Los Azules copper project in San Juan, Argentina, is designed to be one of the world's first regenerative copper mines, aiming for carbon neutrality by 2038, reflecting the company's strategic focus on sustainability, which may attract environmentally conscious investors.
- Executive Personal Investment: Chairman Rob McEwen has personally invested over $250 million and takes a salary of $1 per year, aligning his interests with shareholders, which may enhance market trust in the company's governance.
See More
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- Share Exchange Mechanism: Under the terms of the arrangement, each Golden Lake shareholder will receive McEwen common shares at an exchange ratio of 0.003876, with all outstanding warrants and convertible notes being cashlessly exercised and converted into McEwen shares, ensuring a smooth transition of shareholder rights.
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See More
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- Successful Capital Increase: The company completed a capital increase with a high subscription rate of 96%, with funds earmarked for expansion, particularly in the US market, reflecting confidence in future growth prospects.
- Strategic Acquisition Plans: Mutares projects revenues between EUR 7.9 billion and EUR 9.1 billion in 2026, with a net result expected between EUR 165 million and EUR 200 million, primarily driven by acquisitions like Jadit and Borealis, showcasing its acquisition-driven growth strategy.
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- Funding Structure: The total financing requirement for the project is approximately $4 billion, with $3.2 billion allocated for capital expenditures; McEwen aims for a funding mix of 30%-40% equity and the remainder in debt, with export credit agencies expected to cover up to 85% of equipment costs.
- Improving Policy Environment: The increasing interest from financial institutions is bolstered by improving policy conditions in Argentina's mining sector and new bilateral agreements, including a recent U.S.-Argentina framework prioritizing access to minerals like copper, creating a favorable financing landscape.
- Potential Partnerships: Additional equity financing may come from Rio Tinto or another senior mining partner looking to develop Los Azules as a joint venture, or through multiple parties collaborating to acquire a stake in a potential IPO of McEwen Copper, further advancing the project's development.
See More
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- Earnings Call Announcement: McEwen Inc. will hold its Q1 2026 earnings call on May 7, 2026, at 11:00 AM EDT, where management will discuss financial results and project developments, potentially boosting investor confidence in the company's future prospects.
- Investor Engagement Opportunity: Participants can ask questions directly over the phone, enhancing interaction between investors and management, which increases transparency and helps shareholders better understand and support the company's strategic direction.
- Copper Project Valuation: The implied value of McEwen's Los Azules copper development project in Argentina is $456 million, indicating the company's potential in copper resource development, which is expected to provide significant support for future revenue growth.
- 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 and confidence in the company's long-term development.
See More
McEwen Inc. Releases Tartan Mine Technical Report
- Resource Estimate Support: McEwen Inc.'s technical report filed on SEDAR+ indicates that the Tartan Mine Project has indicated resources of 2.619 million tonnes at 3.67 g/t gold, equating to an estimated 308,900 ounces of gold, highlighting the project's economic potential and feasibility.
- Compliance Review: The report, prepared by Global Resource Engineering, underwent verification by qualified personnel, ensuring data reliability and adherence to industry standards, thereby providing confidence to investors.
- Mining Development Outlook: The release of the technical report for the Tartan Mine Project further solidifies McEwen's mining development strategy in Canada, expected to attract more investments and enhance market competitiveness.
- Diversified Investment Portfolio: McEwen Inc. not only focuses on gold and silver production but also holds a 46.3% stake in McEwen Copper, demonstrating its strategic positioning across various mineral resources and strengthening its status in the global mining market.
See More
McEwen Inc. Invites Participation in Q1 2026 Earnings Call
- Earnings Call Scheduled: McEwen Inc. will hold its Q1 2026 earnings call on May 7, 2026, at 11:00 AM EDT, where management will discuss financial results and project developments, potentially boosting investor confidence in the company's future prospects.
- Investor Engagement Opportunity: The call will feature a Q&A session allowing participants to ask questions directly over the phone, enhancing interaction between investors and management, thereby increasing transparency and trust.
- Copper Project Development: The Los Azules copper project in San Juan, Argentina, is designed to be one of the world's first regenerative copper mines, aiming for carbon neutrality by 2038, reflecting the company's strategic focus on sustainability, which may attract environmentally conscious investors.
- Executive Personal Investment: Chairman Rob McEwen has personally invested over $250 million and takes a salary of $1 per year, aligning his interests with shareholders, which may enhance market trust in the company's governance.
See More
McEwen and Golden Lake Complete Business Combination
- Merger Completion: The business combination between McEwen and Golden Lake has been successfully completed via a statutory plan of arrangement, with Golden Lake's key assets including the Jewel Ridge project adjacent to McEwen's Windfall and Lookout Mountain discoveries, which is expected to enhance the long-term operational capacity of the Gold Bar mine complex.
- Resource Integration: Historical drilling results from the Jewel Ridge project show gold grades as high as 2.20 gpt, and when combined with McEwen's Windfall deposit's 5.55 gpt results, this provides a strong resource foundation for future mineral development.
- Share Exchange Mechanism: Under the terms of the arrangement, each Golden Lake shareholder will receive McEwen common shares at an exchange ratio of 0.003876, with all outstanding warrants and convertible notes being cashlessly exercised and converted into McEwen shares, ensuring a smooth transition of shareholder rights.
- Market Delisting Plan: Golden Lake's shares are expected to be delisted from the Canadian Securities Exchange effective April 30, 2026, and will apply to cease being a reporting issuer, marking its transformation into a part of McEwen and further simplifying operational structures.
See More
Mutares SE Reports Strong 2025 Earnings and Growth Strategy
- Strong Financial Performance: Mutares SE achieved a net result of EUR 130 million in 2025, aligning with guidance, while group revenues expanded significantly to EUR 6.5 billion, indicating the company's stability and growth potential in the market.
- Successful Capital Increase: The company completed a capital increase with a high subscription rate of 96%, with funds earmarked for expansion, particularly in the US market, reflecting confidence in future growth prospects.
- Strategic Acquisition Plans: Mutares projects revenues between EUR 7.9 billion and EUR 9.1 billion in 2026, with a net result expected between EUR 165 million and EUR 200 million, primarily driven by acquisitions like Jadit and Borealis, showcasing its acquisition-driven growth strategy.
- Diversified Portfolio: Mutares' portfolio spans five segments including automotive, engineering, infrastructure, and defense, with annual sales exceeding EUR 10 billion, and some segments outperforming expectations, enhancing the company's competitive edge in the market.
See More
McEwen Seeks Financing for $4B Los Azules Copper Project
- Financing Negotiations: McEwen is in discussions with global lenders to secure financing for its $4 billion Los Azules copper project, with Managing Director Michael Meding indicating engagement with multiple export credit agencies, reflecting rising interest from financial institutions in Argentina's mining sector.
- Funding Structure: The total financing requirement for the project is approximately $4 billion, with $3.2 billion allocated for capital expenditures; McEwen aims for a funding mix of 30%-40% equity and the remainder in debt, with export credit agencies expected to cover up to 85% of equipment costs.
- Improving Policy Environment: The increasing interest from financial institutions is bolstered by improving policy conditions in Argentina's mining sector and new bilateral agreements, including a recent U.S.-Argentina framework prioritizing access to minerals like copper, creating a favorable financing landscape.
- Potential Partnerships: Additional equity financing may come from Rio Tinto or another senior mining partner looking to develop Los Azules as a joint venture, or through multiple parties collaborating to acquire a stake in a potential IPO of McEwen Copper, further advancing the project's development.
See More
