{"id":872284,"date":"2025-08-07T06:04:24","date_gmt":"2025-08-07T10:04:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mcewen-reports-q2-2025-results-continuing-momentum-to-double-gold-and-silver-production-by-2030\/"},"modified":"2025-08-07T06:04:24","modified_gmt":"2025-08-07T10:04:24","slug":"mcewen-reports-q2-2025-results-continuing-momentum-to-double-gold-and-silver-production-by-2030","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mcewen-reports-q2-2025-results-continuing-momentum-to-double-gold-and-silver-production-by-2030\/","title":{"rendered":"McEwen Reports Q2 2025 Results:\u00a0Continuing Momentum to Double Gold and Silver Production by 2030"},"content":{"rendered":"
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TORONTO, Aug. 07, 2025 (GLOBE NEWSWIRE) — McEwen Inc. (NYSE: MUX) (TSX: MUX)<\/strong> (\u201cMcEwen\u201d, “MUX” or the “Company\u201d) today\u00a0announced its second quarter (Q2) and half year (H1) results for the period ended June 30, 2025,\u00a0along with a discussion of our upcoming near-term catalysts.<\/p>\n

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\n \u201cDuring H1 2025 we invested in development projects, including the proposed acquisition of Canadian Gold Corp., to position our company for operational growth. In addition, net income will be further improved with the publishing of the Los Azules Feasibility Study, as McEwen Copper will be able to capitalize the majority of the development costs going forward. Year-to-date, this expense was $15.6 million.\u201d<\/em>
\n <\/strong>\n <\/p>\n

\n
\n The higher gold price, while expected, had a welcome positive impact on our cash flow and net income,\u201d <\/em>
\n <\/strong>
\n said Rob McEwen, CEO and Chief Owner. <\/em>\n <\/p>\n

\n Highlights of Q2 2025<\/strong>\n <\/p>\n

\n Abbreviations used are defined in the Glossary at the end of this press release.<\/em>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Profitability<\/strong>\u00a0\u00a0<\/td>\nGross profit $12.3M<\/strong> vs $10.8M in Q2 2024, representing a gross margin of 26%.<\/strong><\/p>\n

Net income $3.0M<\/strong> or $0.06 per share<\/strong>, vs net loss of $13.0M or $0.26 per share in Q2 2024.<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA<\/strong>\n <\/td>\nAdjusted EBITDA $17.3M <\/strong>or $0.32 per share<\/strong> vs $7.2M or $0.15 per share in Q2 2024.<\/p>\n

Adjusted EBITDA is calculated by adding back McEwen Copper’s income or loss impacts on our consolidated income or loss before income and mining taxes. We use adjusted EBITDA to evaluate our operating performance and ability to generate cash flow from our gold operations in production, including the San Jos\u00e9 mine.<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Revenue<\/strong>\n <\/td>\n\n $46.7M<\/strong> from the sale of 14,549 GEOs <\/strong>produced at our two 100%-owned operations, Fox Complex and Gold Bar, at an average realized gold price of $3,298 per GEO<\/strong>, vs revenue of $47.5M generated from the sale of 20,630 GEOs at an average realized gold sale price of $2,355 per GEO in Q2 2024.<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n June 30, 2025<\/strong><\/p>\n

Liquidity & Capital Resources <\/strong>\n <\/td>\n

Cash and equivalents $53.6M<\/strong> vs $13.7M at June 30, 2024.<\/p>\n

Marketable securities of $16.0M<\/strong>\u00a0at June 30, 2025.<\/p>\n

Working capital $61.8M<\/strong> vs negative $6.5M at December 31, 2024. <\/p>\n

Debt principal outstanding $130M<\/strong> ($110.0M in convertible notes due 2030 and $20.0M under our term loan facility), vs $40.0 M debt at June 30, 2024.<\/p>\n

The reported total debt of $125.8M reflects the debt principal of $130M, less debt issuance costs of $4.2M, which are amortized over the life of the debt, in accordance with accounting standards.<\/p>\n

Based on the most recent financing of McEwen Copper at $30 per share, the implied market value of McEwen Copper is $984.0M. McEwen owns 46.4% of McEwen Copper. McEwen currently has 54,106,415 shares outstanding.<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Production & Unit Costs<\/strong>\n <\/td>\nConsolidated production, which includes our 100%-owned mines plus our attributable production from our 49%-owned San Jos\u00e9 mine, totaled 27,554 GEOs<\/strong> vs 35,265 GEOs in Q2 2024. <\/p>\n

Costs per GEO sold from our 100%-owned operations were $1,906<\/strong> in cash costs and $2,120<\/strong> in AISC, vs $1,554<\/strong> in cash costs and $1,728<\/strong> in AISC in Q2 2024. <\/p>\n

Projected production increases in H2 2025 are expected to drive costs per GEO lower.<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Exploration & Development<\/strong>\u00a0\u00a0\u00a0<\/td>\n\n $5.4M <\/strong>invested in exploration programs at Grey Fox, Gold\u00a0Bar, Lookout Mountain, and Windfall properties. <\/p>\n

Fox Complex is advancing the Froome West discovery to production and the Stock mine ramp.<\/p>\n

$<\/strong>7.0<\/strong>M<\/strong> invested by McEwen Copper in the Los Azules copper project in Q2 2025, representing our 46.4%<\/strong> share of ongoing Feasibility Study costs. Once the Feasibility\u00a0Study is published, the majority of future expenses at Los Azules will be capitalized and will no longer be included in the income statement of McEwen.<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Safety<\/strong>\n <\/td>\nZero lost-time incidents across 100%-owned sites.<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n \u201cWe are proud of the teams at Fox Complex and Gold Bar for upholding safety standards with zero lost-time incidents and for driving progress on critical development milestones,\u201d <\/em>
\n <\/strong>
\n added William Shaver, Chief Operating Officer.<\/em>
\n
\n \u201cThese accomplishments reinforce our momentum and strengthen our path toward achieving our full-year guidance.\u201d<\/em>
\n <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n 2025 Outlook<\/strong>\n <\/td>\nFull-year production guidance reaffirmed at 120,000\u2013140,000 GEOs<\/strong>.<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Looking Ahead \u2013 7 Catalysts<\/strong>\n <\/p>\n

\n Production goal of 250,000 to 300,000 GEOs consolidated by 2030.<\/strong>\n <\/p>\n