Project UpdateJun 8, 2026, 06:01 AM

McEwen Grey Fox PFS Projects 15-Year Mine Life, 87K oz/yr Gold

AI Summary

McEwen Inc. announced positive Pre-Feasibility Study (PFS) results for its 100%-owned Grey Fox Project in Ontario. The project is expected to extend the Fox Complex mine life by 15 years to 2041, contributing to a projected average annual gold production of ~87,000 ounces from 2028-2041. Initial capital expenditures are estimated at $181 million, expected to be internally funded. The PFS shows robust economics, with a post-tax NPV(5%) of $282 million and IRR of 25% at a $3,000/oz gold price, and significantly higher at $841 million and 55% IRR at $4,500/oz.

Key Highlights

Grey Fox PFS projects 15-year mine life extension for Fox Complex to 2041.
Fox Complex gold production projected to average ~87,000 oz/year from 2028-2041.
Initial capital expenditures estimated at $181 million, expected to be internally funded.
Post-tax NPV(5%) of $282 million and IRR of 25% at $3,000/oz gold price.
Post-tax NPV(5%) of $841 million and IRR of 55% at $4,500/oz gold price.
Probable mineral reserves at Grey Fox total 980.3 koz gold.
Life of mine AISC of $2,212/oz (base case) and $2,421/oz (enhanced case).

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Precious Metals

McEwen Inc.

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