|Over a week ago|
Largest borrow rate increases among liquid names » 08:4506/2606/26/20
NKLA, CATS, GNUS, SKT, IVR, MITT, NAK, MUX, XLU, PGEN
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Nikola (NKLA) 971.71% +5.92, Catasys (CATS) 40.37% +3.93, Genius Brands (GNUS) 260.07% +1.70, Tanger Factory (SKT) 16.69% +1.35, Invesco Mortgage (IVR) 80.12% +1.17, AG Mortgage (MITT) 184.24% +1.01, Northern Dynasty (NAK) 27.70% +0.80, McEwen Mining (MUX) 5.96% +0.64, Utilities Sector SPDR ETF (XLU) 1.17% +0.58, and Precigen (PGEN) 24.56% +0.51.
McEwen Mining provides update on Gold Bar operations » 16:3406/1706/17/20
McEwen Mining provided an…
McEwen Mining provided an update on its Gold Bar operations and mine exploration drilling. Mining at Gold Bar was suspended on April 1 and restarted May 6 at the Pick West deposit on a one shift per day basis. An updated resource estimate and mine plan is expected to be completed in early Q3. The company has not had any COVID-19 cases among our workforce. Infill and confirmation drilling conducted in and around the Pick pit since mid-March has increased the company's confidence in the revised geologic model and demonstrated potential near mine exploration opportunities to the southwest and northeast. Drilling has started at the Gold Bar South satellite deposit to test extensions of the deposit and acquire samples for additional metallurgical testing and resource validation. Permitting for development and production from Gold Bar South is also in progress.
McEwen Mining provides update on Black Fox operations » 16:3206/1706/17/20
McEwen Mining provided an…
McEwen Mining provided an update on its Black Fox operations and mine exploration drilling. Mining at Black Fox was suspended from March 26 to April 14 to allow time for management to evaluate and adapt to operating with the risks associated with the COVID-19 pandemic. Since April 14, the mine has been operating following corporate and provincial COVID-19 guidelines. The local health unit indicates that no new cases of COVID-19 have been reported in the Timmins region since May 10. The temporary suspension and subsequent staged ramp-up back into production impacted its mining plan for 2020 and the company is in the process of adjusting production forecasts. Guidance for the second half of 2020 will be provided with Q2 results. Development mining remains on target and focused on increasing access to additional mining areas. Underground exploration drilling along the upper west flank of the Black Fox mine encountered high-grade results within 400 feet to the west of the nearest mining area. Infill drilling also returned very high grades close to existing workings. More underground development and drilling will be further required to demonstrate continuity of the mineralization on the west extension of the mine. The occurrence of high-grade gold intersections suggests the potential to define new gold resources to the west. Progress on the twin ramps to access the Froome deposit encountered a temporary delay in order to recondition the pit wall above the access portals. Priority work on the pit wall has been completed and ramp development resumed on June 16th. Gold production from Froome remains on target for late 2021. The resource estimate for the Grey Fox target area, two miles southeast of the Black Fox mine, was updated and increased by 43% to 888,000 gold ounces at 7.1 g/t in the Indicated category, with an additional 173,000 gold ounces grading 6.6 g/t in the Inferred category. Work on conceptual engineering and permitting is advancing, and the company expects to commence an economic study later this year. Trade-off evaluations are expected to include open pit and underground mining scenarios with a production objective of at least 100,000 ounces of gold per annum from the existing Stock Mill. The company plans to accelerate development of the Grey Fox Project to coincide with the completion of mining at the Froome deposit. At the Stock property the exploration team is designing surface drilling to infill and evaluate the growth potential of the Stock West mineralized zone discovered in 2019. McEwen is also assessing the potential of reopening the historic Stock mine in order to provide underground access to the Stock East and Stock West mineralized zones.
|Over a month ago|
Fly Intel: Pre-market Movers » 08:5805/1905/19/20
ABUS, WMT, AAP, KSS, WB, RADA, HD, MUX, IQ, TMUS, MRNA, GMDA
Check out this morning's…
McEwen Mining reports Q1 EPS (25c) with items, consensus (1c) » 06:0305/1905/19/20
Reports Q1 consolidated…
Reports Q1 consolidated net loss of $99.2M, primarily due to a $83.8M impairment adjustment for the Gold Bar mine and $6.3M spent on exploration and advanced projects. Before the impairment adjustment the net loss is $15.4M. Production was 29,200 gold ounces and 553,200 silver ounces, or 35,100 gold equivalent ounces, at the average gold:silver price ratio for the quarter of 94:1.
McEwen Mining options imply 12.8% move in share price post-earnings » 15:1905/1205/12/20
Pre-earnings options volume in McEwen Mining is normal with calls leading puts 19:2. Implied volatility suggests the market is anticipating a move near 12.8%, or 12c, after results are released. Median move over the past eight quarters is 3.6%.
McEwen Mining reports Q1 production 35,062 gold equivalent ounces » 06:0604/1404/14/20
McEwen Mining reports…
McEwen Mining reports consolidated production for Q1 was 29,177 gold ounces and 553,179 silver ounces, or 35,062 gold equivalent ounces, or GEOs, at the average gold:silver price ratio for the quarter of 94:1. In Q1, Black Fox produced 8,328 GEOs. Mining was temporarily suspended at Black Fox on March 26 for two weeks to allow time for management to evaluate and adapt to operating with the risks associated with the COVID-19 pandemic. In Q1, San Jose produced 8,993 gold ounces and 551,872 silver ounces, for a total of 14,864 GEOs. Mining was temporarily suspended from March 20, 2020 due to a nationwide mandatory quarantine imposed in Argentina to combat the spread of COVID-19. Permission has now been granted by the government to restart mining at San Jose. In Q1, Gold Bar produced 9,133 GEOs. In Q1, El Gallo produced 2,737 GEOs from residual leaching of the heap leach pad.
|Over a quarter ago|
McEwen Mining names Peter Mah as COO effective immediately » 19:4304/0204/02/20
McEwen Mining announces…
McEwen Mining announces the appointment of Peter Mah, P.Eng., as Chief Operating Officer effective immediately. Peter is a professional engineer with 30 years of global mining experience spanning gold, diamonds and base metals. Peter's experience comes from roles including Chief Operating Officer and Executive Vice President of Luna Gold, Group Executive at Newmont Mining, General Manager at the De Beers Victor Mine, Mine Manager of Newcrest's Kencana Mine, as well as engineering roles at Goldcorp and Placer Dome.
McEwen Mining to notify NYSE of intent to cure listing deficiency » 14:5303/3003/30/20
In a regulatory filing,…
In a regulatory filing, McEwen Mining reported that on March 24, 2020, the company was notified by the New York Stock Exchange that the average closing price of the company's common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price required. In response, the company plans to notify the NYSE of its intent to cure the deficiency and restore its compliance with the listing standards of Section 802.01C. The company has six months following receipt of the notification to regain compliance with the minimum share price requirement. "The notice has no immediate impact on the listing of the company's common stock, which will continue to be listed and traded on the NYSE during this period, subject to the company's compliance with other listing standards. The common stock will continue to trade under the symbol "MUX," but with the added designation of ".BC" to indicate the company's "below compliance" status. In the event that the company fails to restore its compliance with the continued listing standards of Section 802.01C, that section calls for the NYSE to commence procedures for the suspension and delisting of the company's common stock," the filing noted.
McEwen Mining falls below NYSE continued listing requirement » 06:0703/2703/27/20
McEwen Mining reports…
McEwen Mining reports that it has fallen below the New York Stock Exchange continued listing requirement related to the price of its common stock. The NYSE requires that the average closing price of a listed company's common stock be above $1.00 per share, calculated over a period of 30 consecutive trading days. The company was notified by the NYSE on March 24 that the average price of its common stock for the previous 30 trading days was below $1.00 per share. McEwen Mining intends to take steps to regain compliance of the NYSE continued listing requirements. Under the NYSE's rules, the company has a period of six months to bring its share price and 30-day average closing share price back above $1.00. During this period, the company's common stock will continue to trade on the NYSE, subject to all other continued listing requirements. At the end of the six-month remedy period, if the share price has not recovered, the company's stock will be subject to NYSE suspension and delisting procedures. The company's listing on the Toronto Stock Exchange is unaffected by any actions of the NYSE.