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InvestorNewsBreaks - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Reports Strong Q3 Performance with 36% Revenue Increase and Major Profit Gains

2024-11-06

TSXV - TSX Venture Exchange · Uranium · Rare Earth Elements · Gold · Canada · Corporate Finance

InvestorNewsBreaks – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Reports Strong Q3 Performance with 36% Revenue Increase and Major Profit Gains

McEwen Mining (NYSE: MUX) (TSX: MUX)announced impressive financial results for Q3 2024, driven by a 36% increase in revenue to $52.3 million due to higher gold prices and an uptick in production. The company’s gross profit surged by 268% to $13.8 million, reflecting improved operational efficiencies and robust production levels. Additionally, McEwen Mining reported a reduced net loss of $2.1 million, significantly lower than the $18.5 million loss in Q3 2023. Operating cash flow rose to $23.2 million, while adjusted EBITDA soared 586% to $10.5 million, highlighting the company’s enhanced cash flow and operational gains across its assets.

To view the full press release, visit https://ibn.fm/p2s2Q

About McEwen Mining Inc.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, chair and chief owner, has a personal investment in the company of $220 million and takes an annual salary of $1. To learn more about the company, visitwww.McEwenMining.com.

NOTE TO INVESTORS:The latest news and updates relating to MUX are available in the company’s newsroom athttps://ibn.fm/MUX

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