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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):        August 3, 2023

 

McEWEN MINING INC.

(Exact name of registrant as specified in its charter)

 

Colorado   001-33190   84-0796160
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

150 King Street West, Suite 2800

Toronto, Ontario, Canada

M5H 1J9
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number including area code:       (866) 441-0690

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock   MUX   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 7.01Regulation FD Disclosure.

 

On August 3, 2023, McEwen Mining Inc. (the “Company”) issued a press release announcing the appointment of Mr. Darren King as Exploration Director. A copy of that press release is furnished with this report as Exhibit 99.1.

 

The information furnished under this Item 7.01, including the referenced exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by reference to such filing.

 

Item 9.01Financial Statements and Exhibits.

 

(d)Exhibits. The following exhibits are furnished or filed with this report, as applicable:

 

99.1Press release dated August 3, 2023

 

104Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document (contained in Exhibit 101)

 

Cautionary Statement

 

With the exception of historical matters, the matters discussed in the press release include forward-looking statements within the meaning of applicable securities laws that involve risks and uncertainties that could cause actual results to differ materially from projections or estimates contained therein. Such forward-looking statements include, among others, statements regarding future production and cost estimates, exploration, development, construction and production activities. Factors that could cause actual results to differ materially from projections or estimates include, among others, future drilling results, metal prices, economic and market conditions, operating costs, receipt of permits, and receipt of working capital, as well as other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and other filings with the United States Securities and Exchange Commission. Most of these factors are beyond the Company’s ability to predict or control. The Company disclaims any obligation to update any forward-looking statement made in the press release, whether as a result of new information, future events, or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.

 

 2 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  McEWEN MINING INC.
   
     
Date: August 4, 2023 By: /s/ Carmen Diges
    Carmen Diges, General Counsel

 

 

 

Exhibit 99.1

 

 

McEwen Copper Strengthens the Exploration Team by

Welcoming Darren King as Exploration Director

 

TORONTO, August 3, 2023 (GLOBE NEWSWIRE) - McEwen Copper Inc., 52% owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce the appointment of Mr. Darren King as Exploration Director. With over 35 years of international experience in all stages of copper and gold exploration across North, Central, and South America, Darren brings a wealth of expertise to his new role.

 

Before joining McEwen Copper, Darren served as Vice President of Exploration at INV Metals, where he made significant contributions to the successful completion of the 2018 and 2020 feasibility studies for the Loma Larga project in Ecuador, which led the company to attract a takeover from Dundee Precious Metals at a 63% premium. During his tenure, Darren also advanced regional exploration properties and ensured compliance with safety, social, and environmental standards.

 

Before INV Metals, Darren held the position of Mine Exploration Manager for South America at Barrick Gold Corporation, where he played an important role in developing and implementing exploration programs near multiple mines, including Lagunas Norte, Pierina, Zaldivar, and Veladero, with an approach that allowed for consistent addition of reserves and resources each year.

 

Over his career, Darren created innovative geological models that led to significant discoveries in the Dominican Republic, Panama, and Argentina, such as the identification of the orebodies Monte Oculto at Pueblo Viejo and Argenta at Veladero. He holds a Master of Science in Geology from South Dakota School of Mines and Technology, he is a Registered Member of Society for Mining, Metallurgy & Exploration (SME), and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

 

Michael Meding, Vice President and General Manager of McEwen Copper stated, "We are delighted to have Darren join McEwen Copper. With his more than 27 years of working in Argentina and experience in exploring the High Andes, we believe that his expertise and track record of success will play a key role in further enhancing Los Azules, which is already ranked as a top 10 copper project worldwide with significant growth potential."

 

Rob McEwen, Chairman and CEO of McEwen Mining, added “I look forward to the contributions Darren will make to McEwen Copper’s exploration endeavors as we pursue our ambitious goals.”

 

ABOUT MCEWEN COPPER

 

McEwen Copper is a well-funded, private company which owns 100% of the large, advanced-stage Los Azules copper project, located in the San Juan province, Argentina. McEwen Copper is a 52% owned private subsidiary of McEwen Mining, which has the ticker MUX on NYSE and TSX.

 

Los Azules is being designed to be distinctly different from a conventional copper mine, consuming significantly less water, emitting much lower carbon and progressing to be carbon neutral by 2038, being powered by 100% renewable once in operation. It recently released an updated PEA (preliminary economic assessment) which projects a long life of mine, low production cost per pound, short payback period, high annual copper production and a 21.2% after-tax IRR.

 

 

 

McEwen Mining Inc.Page 1

 

 

 

ABOUT MCEWEN MINING

 

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns approximately 52% of McEwen Copper, which owns the large, advanced stage Los Azules copper project in Argentina. The Company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the company of US$220 million. His annual salary is US$1.

 

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

 

This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, Quarterly Report on Form 10-Q for the three months ended March 31, 2023, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

 

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc.

 

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  WEB SITE   SOCIAL MEDIA        
  www.mcewenmining.com   McEwen Mining Facebook: facebook.com/mcewenmining  
      LinkedIn: linkedin.com/company/mcewen-mining-inc-  
  CONTACT INFORMATION   Twitter: twitter.com/mcewenmining  
  150 King Street West   Instagram: instagram.com/mcewenmining  
  Suite 2800, PO Box 24          
  Toronto, ON, Canada   McEwen Copper Facebook: facebook.com/ mcewencopper  
  M5H 1J9   LinkedIn: linkedin.com/company/mcewencopper  
      Twitter: twitter.com/mcewencopper  
  Relationship with Investors:   Instagram: instagram.com/mcewencopper    
  (866)-441-0690 - Toll free line          
  (647)-258-0395   Rob McEwen Facebook: facebook.com/mcewenrob    
  Mihaela Iancu ext. 320   LinkedIn: linkedin.com/in/robert-mcewen-646ab24  
  info@mcewenmining.com   Twitter: twitter.com/robmcewenmux  
             

 

 

 

McEwen Mining Inc.Page 2

 

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