IKN

Win us with honest trifles

The McEwen Mining (MUX) earnings NR highlight

This is the best:

Cash and liquid assets(1) and working capital at September 30th, 2021 were $72.7 million(2) and positive $45.8 million, respectively, including $40 million of cash raised by our McEwen Copper subsidiary to advance the Los Azules project.

In other words, if Rob McEwen hadn’t sold Los Azules to himself MUX would not have made payroll, let alone any normal liquidity. We now have a better idea as to why Rob McEwen decided to pay around double the real price for the copper funding, so with a little light shone on previous deception let’s think of the future and tomorrow’s Conference Call. With gross profit of zero point three million dollars on revenue of $37.1m and the bottom line loss of $17.4m, we have plenty of Rob McEwen duckspeak coming up at the ConfCall. Once he’s done, leave his fantasy world of future winningness and return to look at the mess he’s made of the balance sheet.

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