McEwen (MUX) H.C. Wainwright 26th Annual Global Investment Conference summary

Conference overview

• H.C. Wainwright hosted its 26th Annual Global Investment Conference, featuring presentations from over 650 covered companies across multiple sectors.

• The event provided a platform for companies to share strategic updates and connect with investors.

Asset portfolio and strategic focus

• The presenting company holds gold and silver mines in Canada, Nevada, Mexico, and Argentina, plus major copper projects, notably Los Azules in Argentina and Elder Creek in Nevada.

• Los Azules is a key asset, with 5.7 billion tonnes and 37.6 billion pounds of contained copper, and is among the world's largest undeveloped copper deposits.

• The company has shifted focus to copper, separating it from precious metals for targeted financing and growth.

Financial performance and valuation

• Management estimates a significant undervaluation, with a low-end share value of $20–$50, driven by copper asset metrics and recent comparable deals.

• Recent financings have valued the copper business at nearly $1 billion, with share price performance up 219% since August 2022, outpacing gold, copper, and major indices.

• Net income last year was $1.15 per share, reversing a prior loss, and production is projected to grow to 200,000 ounces over five years.