McEwen Inc. reported a mineral resource estimate for its Tartan Mine Project in Manitoba totaling 308,900 indicated gold ounces and 302,700 inferred gold ounces. The company stated the project supports its goal of reaching 250,000 to 300,000 ounces of annual production by 2030, with initial output at Tartan expected to average approximately 30,000 ounces per year. Potential expansion to 45,000 to 55,000 ounces annually could be achieved through increased mill capacity, alongside ongoing exploration, metallurgical testing and mine planning initiatives. The company noted additional upside potential through further drilling across multiple zones and adjacent properties. The full press release detailing these findings is available at https://ibn.fm/RYFYO.
McEwen also maintains a 46.3% interest in McEwen Copper, which owns the Los Azules copper development project in Argentina. 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 a press release dated October 7, 2025, available in the company's newsroom at https://ibn.fm/MUX.
The company recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. McEwen believes this technology 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. His objective is to build MUX's profitability, share value and ultimately implement a dividend policy, as he did while building Goldcorp Inc. The Tartan Mine resource estimate represents a significant step toward these corporate objectives and the company's broader production targets in the coming decade.
