Denver Gold Group member
McEwen Inc.
- NYSE: MUX
- Producer
- Gold
- Silver
- Toronto, Canada
Company profile
McEwen shares trade on both the NYSE and TSX under the ticker MUX.
McEwen provides exposure to a growing base of gold and silver production in addition to a very large copper development project in the Americas. The gold and silver mines are in prolific mineral-rich regions: the Cortez Trend in Nevada, USA, the Timmins district of Ontario and Flin Flon in Manitoba, Canada, and the Deseado Massif in Santa Cruz, Argentina. McEwen is also reactivating its El Gallo gold and silver mine in Mexico.
The Company has a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan, Argentina. Based on McEwen Copper’s last financing in Oct 2024, the implied value of McEwen’s ownership interest was US$456 million. Since then, the value of Los Azules has improved: 1) Copper price is 50% higher, 2) A Feasibility Study (FS) was completed using a $4.35/lb copper and 3) Los Azules received approval under Argentina’s Large Investment Regime (RIGI), significantly improving the economics of the project. Los Azules is shovel-ready project designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038.
McEwen also owns a 1.25% NSR on Los Azules. Based on the 2025 FS and using a recent copper spot price of $6.50/lb, McEwen’s royalty is projected to generate $584 million from the initial case and $860 million from the potential Nuton extension, for a combined undiscounted pre-tax royalty cash flow of $1.4 billion.
McEwen also owns 27% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay™ units around the world, a technology that the Company believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.
Chairman and Chief Owner Rob McEwen has invested over US$293 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 and share value, as he did while building Goldcorp Inc.
At Mining Forum Australia
A Denver Gold Group member company
Member companies meet qualified investors in unmediated 1x1 Meetings at every Mining Forum. The 2027 issuer list is published as companies confirm.
Peer groupthe five most similar Denver Gold Group members, 1 = most similar
| Rank | Company | Stage | Minerals | Primary operations | Market cap | 2025 production | Reserves | Match by factor |
|---|---|---|---|---|---|---|---|---|
| This company | McEwen Inc.NYSE: MUX | Producer | Gold, Silver | United States | $1.1B | 116 koz | 1.3 Moz | |
| 1 | Hemlo MiningTSX: HMMC | Producer | Gold | Canada | $1.5B | 121 koz | 2.1 Moz | |
| 2 | i-80 Gold Corp.TSX: IAU | Producer | Gold, Silver | United States | $1.5B | 31.93 koz | ||
| 3 | Contango Silver & GoldNYSE Arca: CTGO | Producer | Gold, Silver | United States | $626M | 60.2 koz | 0.19 Moz | |
| 4 | KingsgateASX: KCN | Producer | Gold, Silver | Thailand | $998M | 80 koz | 1.5 Moz | |
| 5 | Wesdome Gold MinesTSX: WDO | Producer | Gold, Silver | Canada | $3.6B | 186 koz | 1.1 Moz |
close partial distant not reported Dots run in the order market cap, stage, minerals, country, production, reserves. Similarity weighs market capitalisation 25%, stage of development 20%, primary and secondary minerals 20%, primary country of operations 10%, production 12.5% and reserves 12.5%, with sizes compared on a logarithmic scale. Production and reserves are compared only between companies with the same primary mineral, and a figure a company has not supplied is left out of the score instead of counting against it. A statistical grouping for orientation, not a recommendation or a valuation comparison.
Prepared for information only; it is not investment advice or a recommendation. Company data as supplied to Denver Gold Group by member companies and public market sources. Market figures in US dollars as at 20 September 2026.