- McEwen Mining released its much-awaited and delayed Fox Complex PEA last month, with the results coming in well below expectations.
- According to the study, average annual gold production is expected to come in at ~72,000 ounces, "only" 40% shy of internal projections of ~125,000 ounces at the mid-point.
- Meanwhile, operating costs are expected to be much higher than projected, and could be one reason why the company does not plan to advance the project at this time.
- Having said that, while the Fox PEA was a major whiff, I believe the market had already priced this into the stock, hence why we haven't seen much downside post-release.
For further details see:
McEwen Mining: A Whiff On The Fox PEA