Mcewen Inc. · NYSE:MUX
Mcewen — McEwen Mining — H.C. Wainwright 23rd Annual Global Investment Conference 2021
68 slides from Mcewen's conference presentation, September 2021
Slide 1: The 3 Reasons to Buy
NYSE & TSX The 3 Reasons to Buy 1. Operational Turnaround in Progress 2. Surfacing Copper Value 3. Silver Assets H.C. Wainwright 23rd Annual Global Investment Conference September 13 – 15, 2021 All figures in US Dollars
Slide 2: MUX: Cautionary Statement
MUX: Cautionary Statement This presentation and the information included herein do not constitute an offer to buy or the Commission (the “SEC”), under the caption "Risk Factors", for additional information on risks, solicitation of an offer to subscribe for or to buy any of the securities described
Slide 3: MUX: Historically Traded at a Premium
MUX: Historically Traded at a Premium MUX vs GDXJ Relative Performance (Jan 2012 – Sep 2021) 100 % 80 60 MUX MUX Outperformance GDXJ MUX Underperformance 40 20 0 -20 -40 GDXJ -60 MUX -80 -100 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 MUX Source: Bloomberg. Monthly performance, from Jan 1, 20
Slide 4: Driving the Turnaround: New Senior Management Team
Driving the Turnaround: New Senior Management Team Rob McEwen Anna Ladd-Kruger Peter Mah Chairman & Chief Owner CFO COO Rob has $1/ year salary, has invested Anna has 20+ years of mining Peter has 30 years of mining $165 million in McEwen Mining and experience. She was previously CFO & experience, w
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Slide 6: 2021 Highlights: On Track & Performing Much Better
2021 Highlights: On Track & Performing Much Better • New senior management @ head office & mines • H1 production 71,300 GEOs, in line with guidance • 2021 production guidance 20- 40% greater than 2020 • $50 M debt maturity extended by 2 years to Aug 2023 • Dividend from San José mine resumed: $7.6 M
Slide 7: MUX Regaining Its Mojo
MUX Regaining Its Mojo 200 % 180 160 MUX 140 105% 120 Copper 98% 100 Silver 80 96% GDXJ 60 78% 40 Gold 20 22% 0 Mar-2020 Sep-2020 Mar-2021 Sep-2021 -20 MUX Source: Bloomberg. From Mar 20, 2020 to Sep 6, 2021.
Slide 8: Upside Potential as Lost Ground Is Regained!
Upside Potential as Lost Ground Is Regained! MUX vs GDXJ Relative Performance - September 2018 – September 2021 150% 100 Upside Potential 50 MUX $2.97 Regaining Lost Ground 0 $1.19 Current -50 MUX MUX Outperformance MUX GDXJ MUX Underperformance -100 MUX Source: Bloomberg. Weekly performance, from S
Slide 9: MUX: Gold, Silver, Copper Assets
MUX: Gold, Silver, Copper Assets 4 Mines 5 Development Projects Gold Gold Black Fox Ontario Froome Grey Fox Gold Bar Nevada Stock El Gallo Mexico Gold & Silver Gold & Silver Fenix San Jose Copper Los Azules Argentina MUX
Slide 10: Comparative Financials - Liquidity
Comparative Financials - Liquidity June 30th, 2021 and December 31st, 2020 Q2 2021 ended Q4 2020 ended June 30th, 2021 Dec 31st, 2020 Cash and cash equivalents $ 42.2 M 20.8 M Liquid assets $ 48.9 M 25.9 M Working capital $ 30.0 M 7.9 M Long-term debt principal $ 50.0 M 50.0 M MUX
Slide 11: Turnaround in Progress
Turnaround in Progress Comparative Production H1 2021 vs 2020 & 2021 Guidance Ounces H1 2021 2021 Guidance Range Gold 18,800 41,500 - 44,500 San José Mine, Argentina Silver 1,100,000 2,300,000 - 2,450,000 (49%) GEO 34,800 72,000 - 77,000 Gold Bar Mine, Nevada GEO 21,500 37,000 - 45,000 Black Fox Min
Slide 12: Costs Are Falling - Comparative Production Costs/Oz
Costs Are Falling - Comparative Production Costs/ Oz1 2020 vs 2021 Q2 2021 Black Fox Mine Cash Costs $917 Canada AISC $1,088 San José Mine Cash Costs $1,105 Argentina (49%) AISC $1,500 Gold Bar Mine Cash Costs $1,463 Nevada AISC $1,619 1- GEO Non-GAAP financial performance measure. Cash costs for th
Slide 13: Comparative Financial Results Q2 & H1 2021 vs 2020
Comparative Financial Results Q2 & H1 2021 vs 2020 2021 Q2 H1 Revenue $ 40.7 M 64.5 M Cash gross profit (loss) $ 9.6 M 9.7 M Gross profit (loss) $ 4.1 M (0.9) M Net loss $ (6.0) M (18.5) M Net loss per share $ (0.01) (0.04) MUX Q2 & H1 2021 vs 2020 are ended June 30th
Slide 14: CEO's Big & Unique Financial Commitment
CEO's Big & Unique Financial Commitment $165M Investment 1 18% Ownership $1/Yr Salary Shares Stock Ownership Top 10 Holders 3 Outstanding : 459 M Rob McEwen 82.2 M Van Eck Associates 24.3 M Rob Fully Diluted : 495 M McEwen State Street Corp 13.7 M 18% Condire Management 13.7 M ADTV 2 : 5.6 M Retail
Slide 15: Future Value Drivers for MUX
Future Value Drivers for MUX • Surfacing value of our large copper asset, Los Azules • Funding it privately to upgrade from PEA to PFS, to FS McEwen Copper • Series B financing $80 M with a Lead order of $40 M by Rob McEwen • IPO in Q3 2022. • $23 M exploration targeting increased near-term producti
Slide 16: Launching a New Copper Developer
Launching a New Copper Developer l Key asset: 100% of Los Azules Copper Project located in San Juan, Argentina l One of the world's largest undeveloped Elder Creek open pit copper porphyry deposits; Nevada (100%) • Cu-Au exploration l Financing up to $80 M, lead order of $40 M, 2 stage closing. l Us
Slide 17: $US/lb Paid for Large Copper Deposits Sold in 2010-2018
$US/ lb Paid for 12 Large Copper Deposits Sold in 2010-2018 Illustration of Growth in Average Value from Resource to PFS and FS Cu Eq R&R Cu Price @ Development Cu Eq US$/ lb Target (Project) Buyer Location PA Date Acquired PA Date Stage Grade % Cu Eq (Billion lbs) 1 Peregrine Metals Ltd (Altar) Sti
Slide 18: $US/lb Paid for Large Copper Deposits Sold in 2010-2018
$US/ lb Paid for 12 Large Copper Deposits Sold in 2010-2018 Illustration of Growth in Average Value from Resource to PFS and FS Copper $US/ lb 11. $0.080 5 9. $0.080 8. $0.026 10. $0.069 4 12. $0.008 3 1. $0.036 2 Legend 6. $0.155 7. $0.134 Resource Preliminary Economic Assessment Pre-Feasibility St
Slide 19: Los Azules: NPV Sensitivity
Los Azules: NPV Sensitivity Post-Production Decision $6 Cu Price $5 NPV(8%) Billion US$ $4 Au Price After-Tax NPV(8%)1 Ag Price $3 $2 Grade • $2.2 B at $3.00/ lb Copper CAPEX $1 $0 OPEX • $5.1 B at $4.25/ lb Copper $-1 OPEX - Mining $-2 OPEX - Process -50% -25% 100% +25% +50% $1.15 $2.25 $3.00 $3.75
Slide 20: McEwen Copper's Projected Value Sensitivity
McEwen Copper’s Projected Value Sensitivity • Los Azules total Indicated & Inferred resources: 32.89 B lbs Cu Eq • Value used for financing $175 M or $0.006 / lb Cu Eq (Including $20 M value for 1.25% NSR) MUX New Investors • Post financing 25.5 M shares outstanding: 17.5 M shares 8 M shares ~ 69% ~
Slide 21: Gold Bar: Nevada – Tier 1 Jurisdiction
Gold Bar: Nevada – Tier 1 Jurisdiction Gold Bar Nevada, USA On Trend - Similar Geology Nevada Gold Mines Cortez & Cortez Criteria 50 Moz Au Gold Bar Cortez cluster1 Large footprint, ü Fourmile Co shallow oxide gold Discovery rt Goldrush ez Fa Host rock, alteration, ü ult mineralization style Major f
Slide 22: Gold Bar: Nevada – Tier 1 Jurisdiction
Gold Bar: Nevada – Tier 1 Jurisdiction Gold Bar Nevada, USA On Trend - Similar Geology Nevada Gold Mines Cortez & Cortez Criteria 50 Moz Au Gold Bar Cortez cluster1 Large footprint, shallow oxide gold ü Fourmile Discovery Goldrush Host rock, alteration, mineralization style ü Co rte Major faults, zF
Slide 23: Gold Bar: Nevada – Tier 1 Jurisdiction
Gold Bar: Nevada – Tier 1 Jurisdiction Nevada Gold Mines Gold Bar Cortez Nevada, USA On Trend - Similar Geology 50 Moz Au cluster1 Cortez Cortez & Criteria Gold Bar Large footprint, shallow oxide gold ü Host rock, alteration, mineralization style ü Major faults, structural traps ü Intrusions ü Under
Slide 24: Gold Bar - $5 M Exploration Budget
Gold Bar - $5 M Exploration Budget Legend Mine 2021 Drilling Programs Deposit Near mine targets Near Mine Brownfield C or Ridge Resource Expansion tez Greenfield Targets: Ridge F aul t Cabin Pro R ob Pick ? per Cabin ty B erts Atlas Pit Pick W oun Ri Ca Cre all dg dar bin Fa Brownfields e ek F y ul
Slide 25: Fox Complex, Timmins, Gold - Organic Growth Opportunities
Fox Complex, Timmins, Gold - Organic Growth Opportunities Mineral Resources: 2,789,000 oz Au Measured & Indicated & 1,183,000 oz Au Inferred Destor-Porcupine Fault Zone Fox - Stock Mine & Mill Trans-Canada Hwy Black Fox Mine Matheson (incl Tamarack) 20 miles 121,000 oz Au M&I (32 km) Froome iles 8,0
Slide 26: Fox Complex – Key Exploration Targets
Fox Complex – Key Exploration Targets Fox Complex Ontario, CANADA With Current & Past Production – Potential Near Surface & at Depth Red Lake Timmins Kirkland Lake Stock / Black Fox Surface 1,000m 3,300ft 2,000m 6,600ft Grey Fox Area Stock West Stock East 6.7 g/t Au / 39m 63.6 g/t Au / 6.2m Whiskey
Slide 27: Fox Complex: Stock Area – Establishing a Resource Base
Fox Complex: Stock Area – Establishing a Resource Base • Historical grades processed at Stock Mine +5 g/t Au • Close to the mill & near surface • Several potential mining methods may support PEA • Footprint of mineralization expanding one Fault Z pine orcu Stock East or-P Dest Stock West Stock Mine
Slide 28: Fox Complex: Stock Area – Establishing a Resource Base
Fox Complex: Stock Area – Establishing a Resource Base Stock Mine Stock West 137 Koz Au historic production Stock East Surface Po rph yry S ill -500mL -500mL Definition 5km to Gold Grade x Width (g/t x m) Property Boundary >100 50 to 100 25 to 50 High Priority – Structural Trends and Intersections 1
Slide 29: Fox Complex, Stock West - Attractive Gold Grades & Widths
Fox Complex, Stock West - Attractive Gold Grades & Widths Stock West - Longitudinal Section Looking North Select Drill Intercepts 2.92 g/t Au over 39.6 m -300m 1 incl 5.05 g/t Au over 6.2 m and 7.59 g/t Au over 5.9 m 2 3.82 g/t Au over 8.8 m -500m 2 3 11.29 g/t Au over 2.4 m 3 1 MUX Drill results ar
Slide 30: San José - One of the Highest Grade Mines in the Americas
San José - One of the Highest Grade Mines in the Americas (49% MUX Ownership) § Large Property Property outline § High Grade Mine San José Argentina § Surrounds Newmont San José Mine 399 gpt Silver Reserve Grade 1 6.49 gpt Gold Mine Life 2 5 Years Newmont Cerro Negro Mine 2.30 - 2.45 Moz Silver & Pr
Slide 31: San José Property Exploration Targets
San José Property Exploration Targets § 2021 Exploration Budget - $9.3 Million High grade veins: Aguas Vivas Isabel, Luisa & Escondida San José Argentina Continuing areas near mine & Cerro Negro: Saavedra, Aguas Vivas & Telken Saavedra § Recent Near Mine Results Telken North 2.0 m @ 62.50 g/t Au & 5
Slide 32: A Silver Company Inside MUX
A Silver Company Inside MUX Comparisons to 2020 Production (Moz AgEq) 63.7 MUX’s annual silver equivalent production from its two silver mines compared to the publicly traded silver-focused producers (Larger production numbers assume Fenix project goes into production) 19.1 14.7 10.1 10 7.5 6.3 5.6
Slide 33: El Gallo: Fenix Feasibility Study
El Gallo: Fenix Feasibility Study1 Fenix Sinaloa Mexico Phase 1, Years 1 - 6 Phase 2, Years 7 - 9.5 Gold Production Silver Production Capex $42 M Initial $24 M Year 6 Avg Annual Production 26 Koz Au 4.5 Moz AgEq Cash Costs $1,037/ oz Au $14.22/ oz AgEq AISC $1,045/ oz Au $14.30/ oz AgEq Base Case Sp
Slide 34: Near-Term Catalysts
Near-Term Catalysts • Launch of McEwen Copper • Exploration Results • Fox Complex Expansion PEA in H2 • Froome Commercial Production in Q4 • Silver Assets MUX
Slide 35: Appendix
Appendix
Slide 36: Good Operational Progress
Good Operational Progress Fox Complex Froome extends Black Fox production by 2.5 yrs Froome commercial production scheduled Q4 2021 Fox PEA expansion study H2 2021 $9 M exploration program 2021 Gold Bar Updated feasibility study 300 Koz Recoverable gold 6-year mine life $5 M exploration program 2021
Slide 37: Comparative Financials - Production and Costs Changes
Comparative Financials - Production and Costs Changes Q2 Comparison & H1 Comparison, 2021 vs 2020 Q2 2021 vs Q2 2020 H1 2021 vs H2 2020 % Increase (Decrease) Production Cash Costs AISC Production Cash Costs AISC GEOs1 $/GEO2 $/GEO2 GEOs1 $/GEO2 $/GEO2 Gold Bar Mine, Nevada 131% (17%) (34%) 41% (13%)
Slide 38: Fox Complex: Black Fox Mine Property
Fox Complex: Black Fox Mine Property High Priority Targets @ Froome & Grey Fox Grey Fox 888,000 oz Indicated Black Fox Mine @ 7.1 g/t Au 173,000 oz Inferred @ 6.6 g/t Au Froome 181,000 oz Indicated @ 5.1 g/t Au Commercial production Q4, 2021 1.2 miles 2 km N MUX Please see Appendix for more details.
Slide 39: Froome on Target for Q4 Commercial Production
Froome on Target for Q4 Commercial Production Froome Expected to Deliver Better Economics Than Black Fox Shallower deposit Shorter haul & access time improve productivity Wide disseminated style mineralization More consistent grades & continuity Wider mining widths (mostly 15-40 m) More productive ‘
Slide 40: Fox Complex: Grey Fox Priority
Fox Complex: Grey Fox Priority Drill Hole Grade (g/t Au) Width (m) Grade Width (g/t Au) (m) GxW Whiskey Jack, 1 of 5 Zones at Grey Fox 19GF-1320 2.05 11.0 incl. 5.30 1.6 23 19GF-1313 2.06 11.0 incl. 6.95 1.0 23 Whiskey Jack Long Section Looking North - Near Surface, Good Grades 19GF-1293 5.82 4.4 26
Slide 41: Launch Presentation
Launch Presentation Los Azules Project San Juan, Argentina July 2021
Slide 42: Los Azules: Large Copper Resource
Los Azules: Large Copper Resource Copper Gold Silver Tonnes lbs oz oz Indicated 962 Million 10.2 Billion 1.7 Million 55.7 Million World-Class Open Pit 0.48% 0.06 g/t 1.8 g/t Copper Resource Inferred 2,666 Million 19.3 Billion 3.8 Million 135.4 Million 0.33% 0.04 g/t 1.6 g/t Indicated Inferred Animat
Slide 43: Located in the Prolific Andes Copper Belt
Located in the Prolific Andes Copper Belt l Situated at 3,500 m elevation Mara(Alumbrera/Agua Rica) in the Andes Mountains, on the border with Chile l In a pro-mining jurisdiction, the Josemaria Province of San Juan, Argentina Filo del Sol – Filo Mining l Accessible by road, and within 20-months by
Slide 44: Los Azules: Preliminary Economic Assessment (PEA)
Los Azules: Preliminary Economic Assessment (PEA) Highlights of the 2017 Los Azules PEA1 (Hatch Engineering) Avg annual production 1st 13 years 415 Million lbs Cu @ $1.14/lb cash cost Mine life 36 years Initial capex $2.4 Billion Base case Cu price $3.00/lb Payback 3.6 years After-tax IRR 20.1% Afte
Slide 45: Los Azules: IRR Sensitivity
Los Azules: IRR1 Sensitivity 35% 33.6% 29.8% 30% 25.1% After-tax IRR 25% 20.1% 20% 14.3% 15% 10% 7.2% 5% 0% $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 Copper Price ($/lb) 1 Preliminary Economic Assessment (PEA) Oct 16, 2017 - “NI 43-101 Technical Report - Preliminary Economic Assessment Update for the Los
Slide 46: Executive Leadership Team
Executive Leadership Team Rob McEwen - Chairman and Chief Executive Officer Rob is the Chairman and Chief Owner of McEwen Mining Inc. (MUX). Rob owns 18% of MUX, his cost base is $165 million, and his salary is $1/yr. Rob is a passionate innovator, marketer and an avid recreational competitor. He is
Slide 47: Project Leadership Team
Project Leadership Team Ruben Wallin – Vice President Environment, Safety, Health & Community Ruben is an environment and sustainability professional with more than 30 years’ of experience in the global mining industry. He has broad corporate and operational management experience in the areas of env
Slide 48: Los Azules - One of the Most Robust Development Opportunities
Required copper price (US$/t Cu) MUX 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 New Prosperity Tenke Phase 3 Pebble El Abra Mill Al Arco Galore Creek Los Azules Q1 Los Chancas Salobo 3 San Nicolas Canaria Norte Harper Creek Kamoa-Kakula Resolution Spot Copper
Slide 49: Los Azules Versus Other Large Scale Copper Developers
Los Azules Versus Other Large Scale Copper Developers Project Name (Ownership) Filo del Sol (100%) Josemaria (100%) Alpala (85%) (2) Vizcachitas (100%) Los Azules (100%) Los Azules Asset Information Country Argentina / Chile Argentina Ecuador Chile Argentina Rank Stage PFS FS PEA PEA PEA F.D. ITM Ma
Slide 50: Los Azules: Infrastructure De-risking
Los Azules: Infrastructure De-risking Northern Access Road, Power transmission corridor Preliminary airstrip, will be Chile concentrate route is 98% a new 115 km low altitude all was defined alongside the constructed during the PFS to covered by existing routes year road will be constructed Northern
Slide 51: McEwen Copper: Anticipated Deliverables
McEwen Copper: Anticipated Deliverables l 53,000 m Resource and Reserve definition drill program l New road to provide year round access to the site l New airstrip to support efficient transport of personnel, food and other essential supplies to the work site l Prefeasibility Study (PFS) targeting P
Slide 52: Los Azules: Federal & Provincial Glacier Protection Laws
Los Azules: Federal & Provincial Glacier Protection Laws Potential Permafrost Distribution in the area of Los Azules The Los Azules Project has a facility and mine layout specifically planned with reference to permafrost and water bearing geoforms, and appears to comply with the Provincial & Federal
Slide 53: Los Azules: Tailings & Water Management
Los Azules: Tailings & Water Management Favorable project location using natural terrain to minimize footprint and water use The PEA tailings dam solution is configured to close-off the water catchment downstream from all upstream mining, processing, and waste rock and tailings storage, creating a r
Slide 54: Los Azules: Social Investment
Los Azules: Social Investment l Socio-economic impact assessment to be completed l Key stakeholders will be engaged to develop social investment plan l Areas of focus: I. Employment Local land user engagement Public consultation II. Education and skills training III. Local business development IV. I
Slide 55: Elder Creek Project, Nevada
Elder Creek Project, Nevada Lone Tree Elder Creek is a porphyry copper-gold exploration property located in northern Nevada, near the northern end of the Battle Mountain-Eureka Trend, one of Nevada’s prolific mineral belts. The project covers 9,600 acres. Marigold Several exploration and mining comp
Slide 56: Elder Creek Project, Nevada
Elder Creek Project, Nevada Airborne magnetics at Elder Creek document a classic porphyry system magnetic “donut” pattern which coincides with the outer limit of alteration that is known to contain pyrrhotite (a magnetic mineral). The cause of the central magnetic low could be non-magnetic intrusion
Slide 57: Contact Information
Contact Information For additional information: Rob McEwen Anna Ladd-Kruger Chairman and Chief Owner Chief Financial Officer McEwen Mining & McEwen Copper McEwen Mining & McEwen Copper rob@mcewenmining.com akruger@mcewenmining.com Tara Saratsiotis Stefan Spears Executive Assistant to Rob McEwen Vice
Slide 58: Appendix: Los Azules Mineral Resource Estimate
Appendix: Los Azules Mineral Resource Estimate Copper Resources Indicated Inferred Tonnes (millions) % Cu Contained Metal (million pounds) Tonnes (millions) % Cu Contained Metal (million pounds) 962.0 0.48 10,200 2,666.0 0.33 19,300 Gold Resources Indicated Inferred Tonnes (millions) Grams per tonne
Slide 59: Stock West Drill Results - Strong, Consistent Mineralized Intercepts
Stock West Drill Results - Strong, Consistent Mineralized Intercepts 21.40 g/t Au over 30.0m2 Visible Gold (VG) 5.63 g/t Au over 30.0 m1 MUX Core from drill holes: 1. S19-98, 2. S19-106.
Slide 60: Fox Complex Expansion Strategy
Fox Complex Expansion Strategy 1 Production Growth Steps to Target 100 -150 Koz / Yr Leveraging Stock Mill Capacity Step 1. Froome Commercial production Q4 2021 Bridging gold production for the next 2.5 years Step 2. Grey Fox Grow scale & increase Life of Mine; PEA H2 2021 Gibson & Whiskey Jack dril
Slide 61: Froome Deposit – Better Mining Conditions Than Black Fox
Froome Deposit – Better Mining Conditions Than Black Fox Shown below is a core interval of the wide zone - consistent grades and favorable ground conditions expected, providing for overall better mining conditions, compared to Black Fox’s nuggety style mineralization. From 127 m: 4.55 g/t Au over 53
Slide 62: Fox Complex: Grey Fox 2019-2020 Exploration Highlights
Fox Complex: Grey Fox 2019-2020 Exploration Highlights From Multiple Zones of Near Surface Mineralization Gold Width From Area Project Hole # Including Au GxM (g/t) (m) (m) 19GF-1253 265.00 1.2 56.0 318 19GF-1121 261.00 0.6 168.7 157 19GF-1123 39.46 3.8 325.0 143.00 g/t Au / 1.0 m 150 147NE 19GF-115
Slide 63: Fox Complex Drill Results
Length Au g/t Cog 1 Cog 3 Length Au g/t Cog 1 Cog 3 Length Au g/t Cog 1 Cog 3 494.0m 1.0 Fox 1.29 1.0 1.59 475.0m 1.0 6.57 536.0m 1.0 1.15 1.0 2.43 1.0 2.97 1.0 0.12 1.0 4.05 1.0 1.84 1.0 0.81 Complex 1.0 1.0 6.59 2.84 1.0 2.28 1.0 3.36 1.0 3.43 1.0 3.47 1.0 1.27 Drill Results 1.0 1.0 8.33 2.30 1.0
Slide 64: San José Mine Vein Extensions
San José Mine Vein Extensions Cristina Giovanna Merce 1 km/0.6 Miles N Frea 1.0 m @ 7.02 g/t Au, 811 g/t Ag stina des Flore Ay Odin ele Agu n ncia Maia 1.0 m @ 20.26 g/t Au, 461 g/t Ag 1.0 m @ 2.38 g/t Au, 1,964 g/t Ag Fre Odin a Micaela Pila 1.3 m @ 6.67 g/t Au, 762 g/t Ag r Emil Jul ia ia Kospi 0.
Slide 65: MUX: Reserves & Resources
MUX: Reserves & Resources Mineral Reserves Attributable Gold Reserves Proven Probable Proven + Probable Tonnes Grams per Contained Metal Tonnes Grams per Contained Metal Tonnes Grams per Contained Metal 43-101 Au Reserves (millions) tonne (Koz) (millions) tonne (Koz) (millions) tonne (Koz) Gold Bar
Slide 66: MUX: Reserves & Resources
MUX: Reserves & Resources Mineral Resources Attributable Gold Resources Measured Indicated Measured + Indicated Inferred Tonnes Grams per Contained Tonnes Grams per Contained Tonnes Grams per Contained Tonnes Grams per Contained 43-101 Au Resources (millions) tonne Metal (Koz) (millions) tonne Metal
Slide 67: MUX: Reserves & Resources
MUX: Reserves & Resources Mineral Resources (Cont’d) Attributable Silver Resources Measured Indicated Measured + Indicated Inferred Tonnes Grams per Contained Tonnes Grams per Contained Tonnes Grams per Contained Tonnes Grams per Contained 43-101 Ag Resources (millions) tonne Metal (Koz) (millions)
Slide 68: MUX: Cautionary Note Regarding Non-GAAP Measures
MUX: Cautionary Note Regarding NON-GAAP Measures In this presentation, we have provided information prepared or calculated according Earnings from Mining Operations to U.S. GAAP, as well as provided some non-U.S. GAAP ("non-GAAP") performance The term Earnings from Mining Operations used in this pre
McEwen Mining — H.C. Wainwright 23rd Annual Global Investment Conference 2021 on 6ix