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McEwen Mining Inc. (MUX)

NYSE - NYSE Delayed Price. Currency in USD
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3.3700+0.0800 (+2.43%)
At close: 04:00PM EDT
3.2100 -0.16 (-4.75%)
After hours: 07:17PM EDT
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  • R
    RedMetalMountain
    After 7 years of investment, I’m down around 90% or more.Each year continues to get worse no matter what Rob tries to do.I’m not going to bother selling but I highly doubt I will ever fully recover my losses here.As far as the copper …it’s always been the dangling carrot.Rob will never get what it’s worth because everyone knows he can’t afford to build out the project.Low ball offers are all he’s ever going to see.They will just wait until MUX is completely bankrupt.
  • B
    Bregt14
    This has to be a joke.
    In Q2/22, we reported a net loss of $12.4 million (or $0.26 per share) compared to a loss of $6.0 million (or $0.13 per share) in Q2/2021. The current net loss includes $19.2 million of expenditures on exploration activities and advanced projects of which $14.5 million was related to expenditures for the Los Azules project and $4.7 million on the continued exploration at our Canadian, US and Mexico operating sites.

    Cash gross profit (a non-GAAP measure) of $7.7 million for Q2/22 decreased by $1.9 million from the $9.6 million cash gross profit recorded in Q2/21. The decrease in cash gross profit of $1.9 million is attributed to decreased revenue by $10.1 million partially offset by lower production costs of $8.1 million during Q2/22 as compared to Q2/21. Please see Results of Operations section.

    Production from our 100% owned mines of gold equivalent ounces (GEOs) in Q2/22 decreased from Q2/21: 16,565 versus 22,475 GEOs respectively.

    Our share of the San José mine production was 20,921 GEOs in Q2/22, which was 15% higher than the 18,200 GEOs produced in Q2/21. During Q2/22, COVID-19 continued to have an impact on operations similar to the same period in 2021.

    CONSOLIDATED OPERATIONS REVIEW

    Revenue from gold and silver sales in Q2/22 of $30.6 million decreased by 25% or $10.1 million compared to Q2/21 of $40.7 million. The lower revenue in Q2/22 compared to Q2/21 is attributable to the decrease GEOs sales offset by slight increase in realized gold price which was $35/oz higher year over year.

    Production Costs applicable to sales in Q2/22 decreased by 26% or $8.2 million compared to Q2/21. The decrease is driven by production costs at all of our operations. This is discussed further in the “Operations Review” section.

    Advanced projects costs for Q2/22 of $14.9 million, increased from the $0.8 million, spent in Q2/21. Costs during Q2/22 were largely driven by expenditures to advance the Los Azules Copper Project. Costs during Q2/21 included continued spending for the Fox Complex expansion PEA, and the Fenix project in Mexico however there were no costs to advance the Los Azules project in the same period last year.
  • D
    Donald
    I put in what I thought was a low ball bid this morning. Turns out it was not low enough. I knew I should have stayed away from this stock.

    🤨
  • J
    Jeffrey F
    As I stated previously, Mr. McEwen, Board of Directors, and management have destroyed shareholder value. A six year price chart says it all. Los Azules may eventually prove profitable but MUX's gold and silver assets will continue to hurt earnings and profits. If one still believes in Mr. McEwen, then maybe invest in "McEwen Copper." But MUX will be heading down to $2.00.
  • G
    Georgi
    I had 2000 shares at 1.04$. Now I have 200 at 10.40$ and a loss of 98%. What is happening, does any body know?
  • E
    Elon's left testicle
    How you likin that RS now?
  • R
    RLS
    After the split tomorrow, prediction Rob will issue more stock to raise money within 90 days.
  • C
    Celty
    Too much negativity on this report out. First report I have seen with AISC below the actual spot price of gold.
    Costs are coming down as expected. With oil and diesel so high, I had zero hopes of costs coming down.
    Subtract Cap-ex, and MUX pulled a profit.
  • S
    SheTriedIt
    1:10 REVERSE SPLIT COMING tomorrow 7/26/22. Be ready for some action after the split. Might be able to scrape a few dollars off the table in the confusion...

    https://www.nasdaq.com/market-activity/stock-splits

    TIP: You should set a DAILY calendar reminder to check for SPLITS - stock you already own or stocks you may want to own.
  • D
    Daniel
    If Los Azules is so rich and payback is so fast why are there no interested buyers.
    What is Rob not telling us?

    He turned mux into a copper company. I hate to say it but looks like Rob lost his golden touch. Probably lucked out with Goldcorp.
  • r
    rob
    Reverse split isn’t showing yet it says I own 10800 shares at 0.00 which isn’t right it didn’t revert yet in my account so I assume reverse split is happening now
  • R
    RedMetalMountain
    Not looking forward to seeing the next earnings.I think it’s going to be the worst yet.We need a $2500 gold price and 30 dollar silver if there is any hope of survival for this company.Total disaster this has become.
  • J
    Jeffrey F
    All I can say for those still in this stock and hoping management will turn things around, take your losses and get out. It has been a disaster and will continue to disappoint investors. McEwen needs to try to sell his gold and silver assets and go full throttle on Los Azules. But finding buyers for those assets will be difficult. I still can hear McEwen stating " his goal is to make the S&P 500", this was back in 2016. He has succeeded in making the "Sad & Pathetic 500."
  • j
    john
    This company needs a fresh look over . Someone neutral who has no direct skin in the game who can evaluate the assets true economic potential . Ian Ball would be an excellent choice . He has a good historical view having been involved while Rob was putting together the company.
  • N
    NA
    See all of you soon at $23 levels 🌊⬆️
  • N
    NA
    From my personal point of view, I see that what happened is best for the company. First, the tax will be reduced compared to the number of shares and their price, and the ease of tracking the volume. Secondly, the wave of rise will start from today 🙏🏻
  • R
    RLS
    Thanks again ROB and MANAGEMENT TEAM for destroying shareholder value, to your credit you did say that a reverse stock split would be the final Nail in the coffin for Mux, boy where you right.
  • M
    Michael
    short increase mux by 1,130 %
  • N
    NA
    All results are promising, we are eagerly awaiting the first quarter of 2023 🙏🏻
  • J
    Jeffrey F
    Just to but this RS in perspective, If one bought shares at $2 prior to the split, MUX will need to rise to $20 just to break even. Ain't going to happen folks. Now if one had loaded up at .35 some money could be made.
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