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McEwen's Grey Fox Project PFS shows 15-year mine life extension with strong returns and $181M CAPEX.

Company Fundamentals
08 Jun 2026
Mcewen Inc.
View Source
Bullish
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McEwen Inc. announced a Pre-Feasibility Study (PFS) for its Grey Fox Project near Timmins, Ontario, projecting a 15-year mine life extension to 2041 and significant gold production growth at the Fox Complex. The project aims to increase annual gold output to about 87,000 ounces from 2028 to 2041, supporting McEwen's goal of 250,000–300,000 gold equivalent ounces by 2030. Initial capital expenditures are estimated at $181 million, expected to be funded mainly through cash flow without significant share dilution. The study highlights strong financial metrics, including a post-tax NPV of $282 million at $3,000/oz gold and $841 million at $4,500/oz, with IRRs of 25% and 55% respectively, and plans for construction to start in 2027 with production by 2029.

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