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McEwen Mining delivers positive feasibility study for Fenix

Admin
Jan 2, 2021 Precious Metals News Comments Off on McEwen Mining delivers positive feasibility study for Fenix



Wallace Refiners has launched its 2021 Outlook, which offers the most comprehensive coverage of precious metals markets in the new year. Trillions of dollars were pumped into financial markets in 2020 and that won’t come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.

(Wallace Refiners) – McEwen Mining (NYSE: MUX) (TSX: MUX) announced today the highlights of a positive feasibility study for its 100%-owned Fenix project, which is located in the State of Sinaloa, Mexico.


The base case scenario, which assumes $1,500/oz gold price and $17/oz silver price, delivers after-tax IRR of 28% and after tax NPV (8% discount) of $32 million.


Chairman and Chief Owner Rob McEwen commented, “The Fenix feasibility study envisions a 9.5-year mine life with an attractive after-tax IRR of 28% using $1,500/oz gold and $17/oz silver. At current gold and silver prices, the project’s after-tax IRR almost doubles and the NPV more than triples versus the base case.”


“The project will incorporate an environmentally progressive method of tailings management, using in-pit storage that creates multiple benefits, most importantly a secure containment of tailings enabling better reclamation results,” continued McEwen.


McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina.




Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



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