Terry DeVries's questions to McEwen Mining Inc (MUX) leadership • Q4 2024
Question
Private investor Terry DeVries asked about the distribution of McEwen Copper IPO shares, the post-IPO construction timeline for Los Azules, potential shareholder dilution from financing, and the outlook for MUX's share price recovery.
Answer
Executive Robert McEwen confirmed IPO shares would not be distributed to MUX shareholders and outlined a production start for Los Azules in late 2029, contingent on financing. He argued the IPO valuation could be much higher than current levels. VP Michael Meding added that the financing plan involves a mix of debt and equity, targeting a 60/40 split to limit dilution. Mr. McEwen expressed optimism for the share price, citing the underlying value of Los Azules and favorable commodity cycles.