McEwen Inc. (NYSE: MUX) (TSX: MUX) reported its first-quarter 2026 financial results on Wednesday, providing updates on several key development and exploration projects across Canada, the U.S., Mexico, and Argentina. The company highlighted its progress toward the goal of increasing annual production to 250,000-300,000 gold equivalent ounces (GEOs) by 2030, supported by strong gold prices and advancing mine development at its Stock and Grey Fox properties in Ontario. The full press release is available at https://ibn.fm/qiAmR.
McEwen also reported resource growth at its Tartan and Windfall projects, expansion initiatives at Gold Bar and El Gallo, and continued advancement of the Los Azules copper project through its subsidiary 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 project is designed to be one of the world’s first regenerative copper mines and aims to be carbon neutral by 2038, with its Feasibility Study results announced in October 2025.
McEwen also 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. McEwen 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.
The company’s gold and silver mines are located in prolific mineral-rich regions, including the Cortez Trend in Nevada, 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. With a growing production base and a major copper development project, McEwen offers shareholders exposure to both precious and base metals in the Americas.
