McEwen Mining Q2 net loss $13.0M; Adjusted EBITDA turns positive to $7.2M; Los Azules drilling highlights

McEwen Inc.

2024-Q2 EPS reported -$0.67 revenue$88,704,000

Net loss $13.0M ($0.26/sh) vs $21.6M loss ($0.46/sh) in Q2 2023; Adjusted EBITDA $7.2M vs negative $5.8M.
Gold Bar production 12,297 GEOs (+56% YoY) with AISC $1,634/GEO; Fox production 8,297 GEOs (-20%), expects 15-20% below guidance.
Cash $40.7M, debt $40.0M; 2024 production guidance reaffirmed at 130,000-145,000 GEOs.
McEwen Copper announces Los Azules infill drilling: 217m @ 1.11% Cu (incl 100m @ 1.32% Cu); FS on track for early 2025.
Argentina's new RIGI legislation encourages large investments; BHP/Lundin Mining $4.4B copper deal in same province.

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