Question · Q4 2025
Jay Goldsmith, a shareholder, requested an update on McEwen Mining's stake in Paragon Geochemical Laboratories and the adoption of its photon assay technology. He also asked about the financial impact of this investment on McEwen Mining.
Answer
Ian Ball, Executive Vice Chairman, confirmed McEwen Mining's ownership is approximately 28% in Paragon. He highlighted the widespread industry acceptance of photon technology, noting Barrick's use of 18 machines, and detailed advantages such as faster turnaround times (6-10 days vs. 3-4 weeks for fire assay), similar costs, larger non-destructive samples, and improved representativeness. He clarified that the financial impact for McEwen Mining is primarily as an equity investment, with no additional capital contributions or current dividends, impacting the balance sheet as a capital gain or loss.
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