- McEwen Mining was one of the worst-performing gold stocks last year with a (-) 22% return with share dilution being one key reason for the underperformance.
- Unfortunately, the company has started off the year with more share dilution, with 30 million shares offered at US$1.05.
- While an increased cash balance to fund Froome development and move the company closer to 200,000 ounces per year is great, it's come at a massive expense.
- I continue to see McEwen Mining as arguably the worst way to play the precious metals sector given its history of serial dilution, and I continue to believe that any rallies above US$1.40 will be selling opportunities.
For further details see:
McEwen Mining: More Share Dilution To Start The Year