McEwen Inc. (NYSE: MUX) (TSX: MUX) reported second-quarter 2026 financial results, highlighting a 27% increase in revenue to $59.2 million, net income of $9.6 million, or $0.16 per share, and adjusted EBITDA of $22.2 million. The company also outlined development initiatives expected to increase annual production to 250,000-300,000 gold equivalent ounces (GEOs) by 2030, while reporting new high-grade exploration results at its Grey Fox and Tartan projects, including intercepts of 97.7 grams per tonne (gpt) gold over 4.4 meters and 17.8 gpt gold over 15.9 meters.
Management said it believes future production growth can be largely self-funded through operating cash flow based on long-term gold and silver price assumptions. The company increased 2026 production guidance for its Fox Complex in Ontario while reducing guidance for the Gold Bar Complex in Nevada due to operational challenges. McEwen also reported receiving $58.2 million in dividends this year from its 49%-owned San José mine, exceeding prior full-year expectations, and provided updates on multiple growth projects, including Stock Mine, Grey Fox, Tartan, El Gallo and the Los Azules copper project.
The company ended the quarter with $78.9 million in cash and cash equivalents and raised its 2026 exploration budget to $25.7 million. These results underscore McEwen's commitment to growth and shareholder value, as the company continues to advance its pipeline of projects toward its 2030 production target.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world, including the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Flin Flon in Manitoba and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
The company has a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina – a region that hosts some of the country’s largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million (US$7.67 per share). The Los Azules copper project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay units around the world, a technology that the company believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability, share value and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
For more information on the full press release, visit this link. For the latest news and updates relating to MUX, visit the company’s newsroom at IBN Newsroom.
