Preliminary Economic Assessment for the Los Azules
McEwen Mining Inc. is pleased to announce the results of an updated Preliminary Economic Assessment (“PEA”) on its 100% owned Los Azules Copper Project (the "Project") in San Juan Province, Argentina. The results from the PEA demonstrate that Los Azules has the potential to become one of the largest, lowest cost copper mines in the world. In addition, there remains excellent exploration potential to further expand the size of the existing mineral resource.
I think that the market response will remain soft at this point. The co. has to come out with some level of news that either a partner or buyer is stepping up on this one. We don't have the money to go it alone, there is still significant barriers to doing business in Argentina, and there is still an overhang about "glaciers" (a non-issue IMO, but still an undefined variable in the equation). That said, we are a much more valuable co. based upon this PEA and the next round of drilling results will further increase the value of this property.