McEwen Mining (TSX: MUX; NYSE: MUX) founder and CEO Rob McEwen says its share price benefited from production returning to guidance as well as Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) and automaker Stellantis investing around $300 million in McEwen’s copper subsidiary.
The stock has surged 260% from September 2022, Northern Miner Group president Anthony Vaccaro noted during his interview with McEwen during the Energy Transition Metals Summit in Washington, D.C.
McEwen Copper holds the Los Azules project in San Juan, Argentina, the world’s eighth-largest undeveloped copper deposit. It holds 1.2 billion indicated tonnes grading 0.4% copper for 10.9 billion lb. of the red metal.
“The market noticed that here’s a copper project and they saw the size of it,” McEwen said during the April 29 session. “And then our precious metals operations started delivering on guidance, thank-you very much, so you could see two movers in our share price.”
McEwen and Vaccaro also discussed the industry’s need for a cleaner image and more young talent as well as Argentinian President Javier Milei, an economic reformist elected in December. The CEO said Milei is the prince waking up a Sleeping Beauty representing Argentina.
The Northern Miner and Precious Metals Summit Conferences organized the April 29-30 event. Watch the full McEwen interview in the video below.
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