McEwen Inc. (NYSE: MUX) (TSX: MUX) has filed NI 43-101 technical reports on SEDAR+ for its Grey Fox Project in Ontario and the Lookout Mountain and Windfall deposits in Nevada. These reports support previously released prefeasibility and mineral resource estimates, providing investors with detailed technical data on the projects' potential.
The Grey Fox technical report outlines a 15-year mine life with probable mineral reserves of 980,300 contained gold ounces. At a gold price of $3,000 per ounce, the project has a post-tax net present value of $282 million, increasing to $841 million at $4,500 gold. The report, available through the company's SEDAR+ filings, confirms the economic viability of the project under varying gold price scenarios.
For the Nevada projects, the Lookout Mountain and Windfall technical report confirms combined indicated mineral resources of 629,800 gold ounces and inferred resources of 262,000 gold ounces. Most of these contained ounces occur in oxide mineralization, which is considered potentially amenable to heap-leach processing. This processing method typically offers lower capital and operating costs, enhancing the projects' economic attractiveness.
The filing of these technical reports is a key milestone for McEwen, as it provides transparency and allows investors to assess the projects' fundamentals. The reports support previously announced project results and are part of the company's strategy to advance its gold and silver production base. McEwen's assets also include a 46.3% interest in McEwen Copper, which owns the Los Azules copper development project in Argentina, designed to be carbon neutral by 2038.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build MUX's profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
The full press release is available at https://ibn.fm/cmmP2. For more information about McEwen, visit their newsroom at https://ibn.fm/MUX.
