MUX - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) - Los Azules Project Could Be World's Next Copper Unicorn
- Both gold and copper have seen significant increases in market value in recent months, and copper is forecast to be one of the best-performing of all commodities in 2023, based upon increased demand and projected shortages
- McEwen Mining is a majority shareholder of McEwen Copper, which owns the Los Azules copper deposit in Argentina, one of the largest undeveloped copper projects in the world
- McEwen Copper plans to update its PEA (preliminary economic assessment) during Q1 2023, follow with IPO during Q2, and complete the Feasibility Study in 2024
Historically, gold has been a staple in investment portfolios due to benefits like diversification and a lack of correlation with investments, retaining value during volatile periods. Despite the volatility in the gold market early in 2022, by the end of the year it was on the rise again, increasing 17% to reach its highest level since April 2022 (https://ibn.fm/05zpL). Denmark’s Saxo Bank suggests that gold could hit record highs in 2023, with three key factors to consider: the increasing “war economy mentality,” governments increasing deficit spending on ambitious projects, and the possibility of a global recession in 2023.
McEwen Mining (NYSE: MUX) (TSX: MUX), an asset-rich diversified gold and silver producer with large exposure to copper through its subsidiary, McEwen Copper, is led by a management team with extensive...
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at http://ibn.fm/MUX
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