secwatch.observer — SEC 8-K summary
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Issuer:     McEwen Inc. (MUX)
CIK:        0000314203
Form:       8-K
Filed at:   2026-03-12T23:59:59+00:00
Accession:  0001104659-26-026975
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

McEwen swings to profit: Q4 net income $38.1M, FY net income $34.4M; 2026 GEO guidance 114k-126k
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- Q4 2025 net income $38.1M ($0.70/sh) vs loss $8.2M ($0.16/sh) YoY; FY net income $34.4M vs loss $43.7M.
- Q4 revenue $64.6M (28% QoQ) on 15,196 GEOs; FY revenue $197.6M (+13% YoY) on 58,552 GEOs.
- Adjusted EBITDA Q4 $28.1M ($0.51/sh) vs $11.8M ($0.22/sh) QoQ; FY $66.2M vs $29.2M in 2024.
- 2026 guidance: 114k-126k GEOs production; cash costs $2,100-$2,300/oz; AISC $2,400-$2,600/oz.
- Los Azules copper: RIGI approved, feasibility base-case NPV $2.9B ($4.35/lb Cu), FID targeted end-2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314203/000110465926026975/0001104659-26-026975-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314203/000110465926026975/tm268667d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-026975

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer