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drbubb

McEwen Mining (MUX) : 205,000 /yr. Gold miner (est.)

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Decided to jump out of this at 1.87, I had enough of the action.

I wonder if emotions have got the better of me here?

Anyway posting for the record.

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Great drill results

McEwen drills 24.4 m of 6.66 g/t Au at Gold Bar

2019-08-20 07:03 ET - News Release

Ms. Christina McCarthy reports

MCEWEN MINING: GOLD BAR UPDATE

McEwen Mining Inc. has provided an update on progress at various exploration targets on its Gold Bar mine property. At the Gold Bar South oxide gold deposit located 3.5 miles southeast of the company's Gold Bar mine, a program of 125 drill holes was recently completed. Twenty-five per cent of the new drill intersections were higher grade than the current resource average of 0.029 ounce per ton (one gram per tonne). In addition, several drill holes encountered significant mineralization outside the existing resource, including several notable intersections highlighted in the associated table. These results suggest that there is potential to increase the size of the Gold Bar South resource beyond the current indicated estimate of 3,488,000 tons at 0.029 ounce per ton (one g/t) for 100,000 ounces. Economic studies and permitting are under way with the objective of incorporating Gold Bar South into the overall mine plan this year, and having permitting in place so that open-pit development could begin in late 2020.

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Cleaned out (Sold) the rest of my MUX position at $2.04 and 2.07, booking a profit

This has been a dog until recently, and i decided i would look elsewhere

I still have a small position, SHORT on Puts, which is now in profit

(later):

Cleaned up those short puts too, buying back at a cheaper price than I had sold them

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booking a profit

You make it sound like it wasn't much of a profit. McEwen really fooled us good didn't he. Oh well.

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haha.

It wasnt.  I made maybe 10-15%

Had I bought on the lows it would have been much more

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Funnily enough I also made about 15% (measured against total capital deployed since I had to add).

I bought 36k shares at around $1.79.

I then added 28k shares at $1.30.

Sold off 22k shares as it rose between $1.5 and $1.7.

I was planning to hold the remaining shares beyond $2 but that third correction really got me.

My reasons for selling were that I feared insiders were offloading the stock that was placed at $1.55 earlier in the year, pointing to maybe less than stellar drilling and earning prospects.

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We cannot complain much, because we both made money...

And can move on to the next opportunity.  I am now looking at Copper shares

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CORRECTION underway.  More coming?

MUX ,,, update / Last: $1.78 +0.03

QRejzzz.gif

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Happy that I found the EXIT - mostly at above $2.00

MUX returned to its losing ways since then - Might take another look below $1.65

MUX / McEwen Mining ... all-data : 10yr : 5yr : 4yr : 3yr : 1yr : 6mo ... / Last: $1.63

TTqMX3Y.gif

: 3yr : 2yr : 1yr : 6mo ... / Last: $1.63

L7Vzm2t.gif

Ratio: MUX to GDX

68D9LPl.png

==

 

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McEwen Mining Inc.

Rob McEwen, Chief Owner & Chairman
NYSE/TSX: MUX

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MUX back on the Launch pad?

Not sure how much of a journey it can manage.  but i might buy some shares

MUX ... update : 10d / Last: $1.59

v8MCo3k.gif

I made money owning the stock last time, but it was a bumpy road

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On 10/5/2019 at 2:08 AM, drbubb said:

MUX back on the Launch pad?

Not sure how much of a journey it can manage.  but i might buy some shares

MUX ... update : 10d / Last: $1.59

v8MCo3k.gif

I made money owning the stock last time, but it was a bumpy road

Had a good start yesterday, well Dr B did you ? Stayed away myself.

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out of the markets, for a 2 day break. so... did not (yet)

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BACK DOWN Below $1.30

News

Date ET Symbol Price Type Headline
2019-11-20 14:04 C:MUX 1.99 SEDAR Prospectus Supplement SEDAR Prospectus Supplement
2019-11-20 11:14 C:MUX 1.99 News Release McEwen prices public offering at $50-million (U.S.)
2019-11-19 16:36 C:MUX 1.99 News Release McEwen to arrange public offering of shares, warrants
2019-11-19 09:20 C:MUX 1.99 SEDAR Prospectus Supplement SEDAR Prospectus Supplement
2019-11-04 06:19 C:MUX 2.30 News Release McEwen Mining drills 18.8 m of 10.9 g/t Au at Black Fox
2019-10-30 08:17 C:MUX 2.20 SEDAR Interim Financial Statements SEDAR Interim Financial Statements
2019-10-30 08:17 C:MUX 2.20 SEDAR MD & A SEDAR MD & A
2019-10-30 06:24 C:MUX 2.20 News Release McEwen Mining loses $13.3-million (U.S.) in Q3

==

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McEwen Mining Announces Pricing of US$50 Million Public Offering

2019-11-20 08:40 ET - News Release

TORONTO, Nov. 20, 2019 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (the “Company” or “McEwen”) (NYSE: MUX) (TSX: MUX) today announced that it has priced an underwritten public offering of 37,750,000 units, each unit consisting of one share of common stock and one half of one warrant to purchase one share of common stock, at a public offering price of $1.325 per unit for aggregate gross proceeds of approximately US$50,000,000.  Each full warrant is exercisable for one share of common stock with an exercise price of $1.7225 per share and are exercisable immediately and for five years following issuance.  The Company has granted to the underwriters a 30-day option to purchase up to an additional 5,662,500 shares of common stock and/or additional warrants to purchase up to 2,831,250 shares of common stock at the public offering price per share and per warrant, less the underwriting discounts and commissions.  The offering is expected to close on or about November 22, 2019, subject to customary closing conditions.

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Bullboard Comments - are mostly NOT favorable

November 19, 2019 - 05:05 PM 104 Reads
Post# 30371339

RE:New Public Offering

Robby is at it again....unbelievable....he is going to widdle down this stock price to pennies soon...now I know why no employees are buying their own stock....this is crazy...

RE:RE:RE:RE:RE:New Public Offering

I've never seen a placement news release without an associated price.  (THAT came later: $1.32 ish)

All in sustaining costs doesn’t...

Tell investors much anymore. A new measure needs to be adopted by all mining companies to be more clear. How about the "Threshold of profitability"? The theshold would point at what price of gold will the company be profitable by including all costs associated with running a mining company. That would include all in sustaining costs plus general and administrative costs. - Nothing would be excluded, including management wages, options, insurance, accounting, rent, promotions, etc, etc.
November 20, 2019 - 08:50 AM 277 Reads
Post# 30373054

It Was A Good Company Detected in Sept The Problems

As I noted in my prior post, after a Sept. conference, I was extremely disappointed in Rob McEwan and MUX, had been an early investor, since 1999, in all Rob's public companies. Did very well but, sold all our holdings in Sept. while at the Sept. conference.

What you are seeing with MUX, will happen with most other Resource comapnies, they are all in need of $$$$$$$$$$ and/or heavy Debt and can't service their existing Debt or will not be able to service their Debt in the future. Prices of metals are coming down and will see or test their lows and go lower. Some of these comanies will not be around in a few years, especially the juniors and that also applies to mid size and larger, just too much Debt, a lot of expenses or high costs/uneconomical projects.

As respects to MUX, over time it will test the 70 cent area, in the future, between now and 2023. We have a more exact or closer range but CAUTION.

I will not invest in another Rob company unless their is a noticable change.

All the above in my humble opinion and based on MKTS and observations from Sept.

Read more at https://stockhouse.com/companies/bullboard?symbol=mux&postid=30373054#OGhOxFVEytrLgIEj.99

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On 11/22/2019 at 4:11 AM, drbubb said:

Bullboard Comments - are mostly NOT favorable

November 19, 2019 - 05:05 PM 104 Reads
Post# 30371339

RE:New Public Offering

Robby is at it again....unbelievable....he is going to widdle down this stock price to pennies soon...now I know why no employees are buying their own stock....this is crazy...

RE:RE:RE:RE:RE:New Public Offering

I've never seen a placement news release without an associated price.  (THAT came later: $1.32 ish)

All in sustaining costs doesn’t...

Tell investors much anymore. A new measure needs to be adopted by all mining companies to be more clear. How about the "Threshold of profitability"? The theshold would point at what price of gold will the company be profitable by including all costs associated with running a mining company. That would include all in sustaining costs plus general and administrative costs. - Nothing would be excluded, including management wages, options, insurance, accounting, rent, promotions, etc, etc.
November 20, 2019 - 08:50 AM 277 Reads
Post# 30373054

It Was A Good Company Detected in Sept The Problems

As I noted in my prior post, after a Sept. conference, I was extremely disappointed in Rob McEwan and MUX, had been an early investor, since 1999, in all Rob's public companies. Did very well but, sold all our holdings in Sept. while at the Sept. conference.

What you are seeing with MUX, will happen with most other Resource comapnies, they are all in need of $$$$$$$$$$ and/or heavy Debt and can't service their existing Debt or will not be able to service their Debt in the future. Prices of metals are coming down and will see or test their lows and go lower. Some of these comanies will not be around in a few years, especially the juniors and that also applies to mid size and larger, just too much Debt, a lot of expenses or high costs/uneconomical projects.

As respects to MUX, over time it will test the 70 cent area, in the future, between now and 2023. We have a more exact or closer range but CAUTION.

I will not invest in another Rob company unless their is a noticable change.

All the above in my humble opinion and based on MKTS and observations from Sept.

Read more at https://stockhouse.com/companies/bullboard?symbol=mux&postid=30373054#OGhOxFVEytrLgIEj.99

Those are really astute comments Mux is a dog for sure, glad I stayed away.

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BOTH could be good news for MUX... which needs some

2019-12-03 06:35 C:MUX 1.52 News Release McEwen drills 44 m of 9 g/t Au at Black Fox
2019-11-27 06:58 C:MUX 1.52 News Release Ely Gold to sell Gold Bar to McEwen Mining

MCEWEN MINING: GREY FOX IS GROWING

McEwen Mining Inc. has released drill results from its Gibson and Whiskey Jack targets within the Grey Fox deposit area, a part of the Black Fox complex in Timmins, Canada. Highlights of the drilling from these two important targets are shown in the associated tables.

"The drill results reported today from Gibson and Whiskey Jack illustrate clearly the growth potential of the Black Fox property," said Sylvain Guerard, senior vice-president, exploration.

Gibson target

In 2018, hole 18GF-1079 intersected a broad interval of mineralization within an intrusion, which returned 3.1 grams per tonne gold over 34 metres, including 10.8 g/t Au over six m (core lengths). Diamond drilling tested below hole 18GF-1079 and extended the mineralization by 820 feet (250 m) downdip with hole 19GF-1106; which intersected a higher-grade interval of 16.9 g/t Au over three m (core length), within a 200-foot-(60 m)-wide envelope of alteration and anomalous mineralization. Follow-up drilling has continued with 19 holes completed since last release of results in May, 2019. Significant gold mineralization at Gibson has been outlined over a 1,650-foot (500 m) strike length and from surface to a depth of 2,600 feet (800 m). Hole 19GF-1147 returned the deepest intersection of 13.2 g/t Au over three m. Highlights of the Gibson drilling are included in the associated table.

. . .

Visible gold has been identified in six of nine holes completed so far this year at Whiskey Jack. Gold mineralization has been intersected over a strike length of 330 feet (100 m) and to a shallow depth of 660 feet (200 m) below surface.

Geologic interpretation

The Gibson syenite intrusion hosting the gold mineralization extends over 1.5 miles (2.5 km) along the Gibson-Kelore fault zone. There are two main styles of mineralization at Gibson: (1) breccia and crustiform veins from surface to a depth of approximately 1,150 feet (350 m) below surface and (2) dissemination-replacement-style mineralization from approximately 980 feet (300 m) to at least 2,600 feet (800 m) below surface. Both styles of mineralization are interpreted to be synchronous with mineralization at the Contact, 147 and South zones.

===

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Bouncing off the Bottom of the Channel, near $1.10

MUX / McEwen Mining ... 3yr / Last: $ 1.14

DzRF7XB.gif

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