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, supported by strong gold prices and advancing mine development.
Key operational milestones include progress at the Stock and Grey Fox mines in Ontario, resource growth at Tartan and Windfall, expansion initiatives at Gold Bar in Nevada and El Gallo in Mexico, 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 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 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 on October 7, 2025.
In addition to its mining operations, McEwen recently purchased a 27.3% stake in Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. The company believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider.
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 more details, the full press release is available at https://ibn.fm/qiAmR. The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.
