McEwen’s Grey Fox Resource Growth And Mine Plan Versus Recent Rally

• McEwen (NYSE:MUX) reported a 23% year over year increase in Indicated gold resources at its Grey Fox Project.
• The company plans to fold recent property acquisitions, including the Stroud Property, into the next phase of Grey Fox development.
• New high grade drill results and an accelerated underground mining approach are set to inform the updated project plan.

For investors tracking McEwen, the Grey Fox update comes on the heels of a sharp share price move, with NYSE:MUX up 17.3% over the past week and 36.1% over the past month. At a current share price of $26.78 and a 1 year return of 220.0%, the stock has already delivered strong recent gains, so fresh information on the resource base is likely to draw attention.

The combination of a higher Indicated resource, new properties such as Stroud, and fresh drill results gives you more concrete data to assess the company’s future project plans. As McEwen refines its next development phase, including the accelerated underground mining concept, investors will be watching how these pieces translate into updated mine designs, timelines, and capital needs.

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Why McEwen could be great value

Quick Assessment

• ❌ Price vs Analyst Target: At US$26.78, McEwen trades about 8.9% above the US$24.60 analyst consensus target.
• ✅ Simply Wall St Valuation: Simply Wall St currently flags the shares as undervalued, trading about 83.5% below its estimated fair value.
• ✅ Recent Momentum: The stock shows strong short term momentum with a 36.1% gain over the last 30 days.

Check out Simply Wall St’s
in depth valuation analysis for McEwen.

Key Considerations

• 📊 The 23% increase in Indicated resources at Grey Fox plus new drill data provides more defined volume to compare with McEwen’s current valuation.
• 📊 Monitor how the Grey Fox mine plan, capital requirements and timing around the accelerated underground approach are updated from here.
• ⚠️ Higher resources alone do not guarantee project economics, so pay close attention to future cost, grade and permitting disclosures tied to Grey Fox and the new properties.

Dig Deeper

For the full picture including more risks and rewards, check out the
complete McEwen analysis.

This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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