en.Wedoany.com Reported - On August 10, mining data platform Stormlands Mining released a conceptual economic model for two gold deposits owned by McEwen Mining. The model applied an average gold price of $4,245.22 per ounce for June 2026 to publicly available technical data, yielding a post-tax net present value of $632.3 million for the project, an increase of 111.9% over the base case.

The model covers two gold deposits, Lookout Mountain and Windfall, utilizing only the combined indicated mineral resource of 28.9728 million tonnes at an average gold grade of 0.68 grams per tonne, containing approximately 629,700 ounces of gold. Stormlands assumed a gold recovery rate of 78%, simulating a mine life of 9.2 years with average annual payable gold production of approximately 53,400 ounces, initial capital expenditure of $150 million, and life-of-mine operating costs of approximately $619.7 million.

At a base gold price of $3,000 per ounce, the model yields a post-tax net present value of $298.5 million, an internal rate of return of 40%, and a payback period of two years and five months. When the gold price is adjusted to $4,245.22 per ounce, the internal rate of return increases to 72.8%, and the payback period shortens to one year and five months; life-of-mine revenue rises from $1.473 billion to $2.084 billion, and EBITDA increases from $766.8 million to $1.351 billion.

The technical report submitted by McEwen in July confirms that the two deposits collectively hold 629,800 ounces of indicated gold resources and 262,000 ounces of inferred gold resources. Approximately 89% of the gold-bearing resources at Lookout Mountain and all gold-bearing resources at Windfall consist of oxide mineralization, with potential for processing via heap leaching. The technical report contains only mineral resource estimates and does not establish mineral reserves or a formal economic evaluation; the Stormlands model also did not incorporate the lower-confidence inferred resources.

Stormlands' cost, capital expenditure, and production schedule assumptions are independently modeled and have not been reviewed or approved by the project owner. Both deposits remain in the resource evaluation stage, and further development will require completion of mine design, metallurgical testing, environmental studies, permit applications, and formal economic studies.