McEwen Inc. (NYSE: MUX) (TSX: MUX) reported its first-quarter 2026 financial results and provided updates on its development and exploration projects across Canada, the U.S., Mexico, and Argentina. The company highlighted progress toward its goal of increasing annual production to 250,000-300,000 gold equivalent ounces (GEOs) by 2030, supported by strong gold prices and advancing mine development at Stock and Grey Fox in Ontario, resource growth at Tartan and Windfall, expansion initiatives at Gold Bar and El Gallo, and continued advancement of the Los Azules copper project through McEwen Copper.
The Los Azules copper project, owned by McEwen Copper in which McEwen holds a 46.3% interest, is designed to be one of the world's first regenerative copper mines and aims to be carbon neutral by 2038. Its feasibility study results were announced in a press release dated October 7, 2025. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million (US$7.67 per share).
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units worldwide, a technology the company believes is poised to become the new industry standard for assaying precious and base metals. Paragon aims to be one of the leading service providers in this field.
The company's gold and silver mines are located in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
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. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame, and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX's profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
