Past year: ▼ 7%(17.08 – 28.35 USD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Aug 2013resource reserve update▲ GoodMajor
The neighboring, not-yet-built El Gallo 2 project also grew its resource sharply - Measured & Indicated silver up 20% to 63.9 million oz and gold up 215% to about 202,000 oz - as McEwen converted Inferred material ahead of updating the project's mine plan.
17 July 2013resource reserve update▲ GoodMajor
McEwen's El Gallo 1 mine in Mexico, which had just reached commercial production in January 2013, saw its gold resource grow 38% to about 691,500 ounces, and the company began a 50% mill expansion (to 4,500 tonnes/day, ~$5 million) meant to ramp output from 27,300 oz this year toward 75,000 oz by 2016.
15 May 2013resource reserve update▲ GoodMajor
The Los Azules resource grew again - Indicated copper up 17% to 5.4 billion lbs and Inferred up 32% to 14.3 billion lbs - capping the most successful drill season yet, with a new economic study due in the third quarter to evaluate higher throughput and producing cathode copper instead of concentrate.
28 Mar 2013drilling progress report▲ GoodMajor
New Los Azules drill results extended high-grade copper mineralization both along a new western trend and more than 300 meters deeper than previously tested, including 0.51% copper over 618.5 meters in one hole - results that will feed into a resource update due by the end of May.
7 Feb 2013material agreement▲ GoodMajor
McEwen settled a British Columbia lawsuit over ownership of mineral claims around its flagship Los Azules copper project, agreeing to issue 1 million shares to plaintiff TNR Gold Corp in exchange for a full release of claims - clearing a title dispute that had clouded the asset since before McEwen acquired it via Minera Andes in 2012.
6 Feb 2013resource reserve update▲ GoodMajor
A further Los Azules resource update pushed Inferred copper up another 29% to 13.95 billion lbs, though Indicated copper slipped slightly to 4.45 billion lbs as deeper drilling opened up a new parallel mineralized trend; an updated economic study was slated for later in 2013.
13 Nov 2012material agreement● Neutral
At the NYSE's request, McEwen amended Rob McEwen's backstop agreement to strip out a provision reimbursing his expenses - a minor cleanup to the October rights-offering backstop, not a change in his underlying commitment.
31 Oct 2012material agreement▲ GoodMajor
Chairman and Chief Owner Rob McEwen personally backstopped the company's $60.4 million rights offering, agreeing to buy any shares other holders don't subscribe for - a strong vote of confidence from the largest insider rather than a dilutive outside raise.
10 Sept 2012resource reserve update▲ GoodMajor
A feasibility study for Phase II of McEwen's El Gallo silver-gold project in Sinaloa, Mexico came back positive: about 5.2 million oz of silver and 6,100 oz of gold a year for the first six years, a 26% after-tax IRR at $25 silver, and roughly $178 million of initial capital needed.
28 June 2012resource reserve update▲ GoodMajor
McEwen Mining raised its resource estimate for the 100%-owned Los Azules copper project in Argentina - Indicated copper up 109% to 4.6 billion lbs and Inferred copper up 4% to 10.8 billion lbs - as one of the world's largest undeveloped copper deposits kept growing on the drill bit.
