McEwen Inc. (NYSE: MUX) (TSX: MUX) reported its first-quarter 2026 financial results, highlighting progress toward its ambitious goal of increasing annual production to 250,000-300,000 gold equivalent ounces (GEOs) by 2030. The company provided updates on development and exploration projects across Canada, the U.S., Mexico, and Argentina, noting that strong gold prices are supporting its expansion plans.
Key developments include 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 company holds a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina. 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). The Los Azules copper project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038, with its Feasibility Study results announced in a press release dated October 7, 2025.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units around the world. The company believes this technology 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.
The company’s gold and silver mines are located in prolific mineral-rich regions, including the Cortez Trend in Nevada, USA; 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.
For the full press release, visit https://ibn.fm/qiAmR. For the latest news and updates relating to MUX, visit the company’s newsroom at https://ibn.fm/MUX.
