McEwen Mining Inc. (NYSE:MUX) Q3 2023 Earnings Conference Call November 9, 2023 11:00 AM ET

Company Participants

Rob McEwen - Chairman, Chief Owner

Perry Ing - Chief Financial Officer

William Shaver - Chief Operating Officer

Michael Meding - Vice President, General Manager, McEwen Copper

Jeff Chan - Vice President, Finance

Carmen Diges - General Counsel and Secretary

Stefan Spears - Vice President, Corporate Development

Conference Call Participants

Marcus Giannini - H.C. Wainright

Jake Sekelsky - Alliance Global Partners

Joseph Reagor - Roth MKM

John Tumazos - John Tumazos Very Independent Research

Operator

Hello ladies and gentlemen. Welcome to McEwen Mining's Q3 2023 Operating and Financial Results Conference Call.

Present from the company today are Rob McEwen, Chairman and Chief Owner; Perry Ing, Chief Financial Officer; William Shaver, Chief Operating Officer; Michael Meding, Vice President and General Manager of McEwen Copper; Jeff Chan, Vice President, Finance; Carmen Diges, General Counsel and Secretary; Stefan Spears, Vice President, Corporate Development.

After the speakers presentation, there will be a question-and-answer session. [Operator Instructions].

I will now turn the call over to Mr. Rob McEwen, Chief Owner. Please go ahead, sir.

Rob McEwen

Thank you, operator. Good morning fellow shareholders and guests. Welcome to our Q3, 2023 conference call. The individuals you all heard on the call with me will be participating in our question-and-answer period.

I'm going to start by highlighting our share performance over the past 13 months, from September 1, 2022 to present. I picked that date because that is when the market began to see the value of our strategy to finance our McEwen Copper assets separately. Since that time, our share price has increased 133% and has far outperformed the performance of the Dow Jones Industrial Average, NASDAQ, the price of gold, price of copper, and the ETFs of GDX and GDXJ, representing the gold sector.

I believe our superior share performance has been driven by the success we have achieved financing our subsidiary, McEwen Copper, where we have raised privately equity of close to US$400 million during this period.

Recognizing the impressive size and value of McEwen Copper's Los Azules project are two global giants, who have provided three quarters of these funds. Stellantis, the world's fourth largest car manufacturer, and Rio Tinto, the world's second largest mining company, through its Nuton Venture arm.

With the end of winter in the southern hemisphere, we are back up at Los Azules and moving aggressively to complete all the activities necessary to deliver a feasibility study in the first quarter of 2025.