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Rob McEwen is of course one of the biggest names in mining.

McEwen Mining (MUX.TO) in effect is two different metal companies come together - a collection of smaller-but-producing gold mines and a huge, world-class, copper project at the PEA level.

The gold mines are theoretically meant to aid in funding the development of the Los Azules copper project to minimise dilution. However, it has recently not worked out that way. Cost overruns have eroded profit margins, and MUX is in the process of bringing them under control, as Rob discusses with me.

Gold mine production aside, the Los Azules project really needs no help standing on its own. World-leading tonnage - to the tune of over 10 billion pounds of indicated Cu, and nearly triple that (26.7 B lbs) in the inferred category. Extremely cheap cost-per-pound. Good jurisdiction. This one has an awful lot going for it.

But Los Azules is so much more than that. Rob has a vision for what the mining industry needs to be, and is working to realise it with Los Azules. Green energy power plants, electrified mining, carbon neutral, environmentally friendly extraction (and without toxic byproduct, low water usage, integrated community infrastructure projects, education initiatives, the list goes on. Rob is trying to create a model for an essential industry with a lot of baggage in some communities.

To wit, this project despite all its efforts is not without some controversy of its own, with ongoing uncertainty surrounding Argentinian laws surrounding glacier protection. MUX has a number of undercover rock glaciers scattered throughout its territory and their legal status is undecided. In a new format, I will publish shortly a discussion of the “flip side” of today’s interview, where I will try to investigate and discuss risks of MUX in a good faith effort as I have the bull argument here today.

Rob joins me to discuss all this, his company, and offers thoughts and advice to listeners on how to navigate the difficult waters of reosurce exploration companies.
Time Stamps:

01:30: Rob’s Start in the Industry
03:50: What continues to draw you to this industry
05:40: Reflections on lessons learned from his career and discussions on current economic conditions
McEwen Mining Discussion
08:00: Discussion of cost overruns in MUX’s gold mines
13:00: How do you marry Los Azules and MUX’s producing gold mines?
18:30: How and Why does MUX plan to achieve its renewable and green energy goals?
21:10: His vision for Los Azules
26:30: How does mining improve its approach to local stakeholders?
28:45: Los: Azules, how do you manage exploration and development with such a large project?
31:00: When will Los Azule IPO? What are the factors?
35:00: What is Stellantis’ level of involvement in the project?
36:40: Advice from Rob on how to assess developers
41:10: What are dealbreakers for Rob?
44:15: What role does jurisdiction play for Rob?
48:15: Final thoughts from Rob






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