en.Wedoany.com Reported - Canadian precious metals producer McEwen reported quarterly results for the period ended March 31, with revenue increasing 107% year-over-year to US$74 million, derived from the sale of 15,572 gold equivalent ounces. The average realized gold price was US$4,792 per ounce, up 71% from the same period last year.

Gross profit for the quarter reached US$31.5 million, compared to just US$10.1 million in the same period last year. Net profit swung from a loss to a gain, turning from a net loss of US$6.3 million in the prior-year quarter to a profit of US$33.4 million, equivalent to US$0.56 per share. Adjusted EBITDA increased from US$8.7 million to US$44.8 million, with per-share figures rising from US$0.16 to US$0.76.

The company's growth project pathway remains clear, targeting an increase in annual production to 250,000 to 300,000 gold equivalent ounces by 2030, while the 2026 production guidance is maintained at 114,000 to 126,000 gold equivalent ounces. Management believes that if mine operations meet targets, at current gold and silver price levels, the company can fund production expansion with its own cash flow and control equity dilution, which is expected to be a primary driver of valuation upside.

In Canada, McEwen is advancing the Stock, Grey Fox, and Tartan projects in phases, planning to increase local annual production from 16,000 to 19,000 gold equivalent ounces in 2026 to 105,000 to 120,000 gold equivalent ounces by 2030. In the United States, leveraging the Lookout Mountain, Windfall, and Trinity Ridge deposits within the Gold Bar mine area, production is expected to more than double, increasing from 39,000 to 43,000 gold equivalent ounces to 90,000 to 110,000 gold equivalent ounces.

The El Gallo mine in Mexico is expected to begin contributing 20,000 gold equivalent ounces annually starting mid-2027. At the San José mine in Argentina, following mill expansion and accelerated mining, McEwen's attributable annual production target based on its 49% interest is 60,000 to 70,000 gold equivalent ounces.

The company also holds a 46.3% equity interest in McEwen Copper and a 1.25% net smelter royalty on the Los Azules project. Over a 22-year mine life, this royalty is projected to generate US$520 million in pre-tax earnings under a US$5.80/lb copper price scenario, and US$389 million at a base case copper price of US$4.35/lb.

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