McEwen Inc. generated $9.6 million in net income for the second quarter of 2026, or $0.16 per share, an increase from $3.0 million, or $0.06 per share, in the same period last year. Quarterly revenue reached $59.2 million from the sale of 13,948 gold equivalent ounces (GEOs), a 27% increase over the previous year.

The company has updated its full-year 2026 production guidance to 109,000–120,000 GEOs. This adjustment follows production changes at its 100%-owned assets: output at the Fox Complex in Ontario was strong, while the Gold Bar Complex in Nevada saw a reduction in forecast due to lower-than-planned heap leach performance caused by assay lab downtime and higher-than-anticipated carbon content in the ore.

McEwen continues to target annual production of 250,000–300,000 GEOs by 2030. Part of this growth strategy relies on utilizing existing milling facilities to manage costs.

“Leveraging our current mill will allow us to limit initial capital expenditures versus building a new plant.”

At the Stock Mine in the Fox Complex, development remains on budget. Mining is scheduled to begin in Q4 2026, with commercial production following in 2027. Recent engineering assessments have extended the mine life at Stock to 8.5 years. Exploration at the nearby Grey Fox project continues to return high-grade results, such as 97.7 gpt gold over 4.4 meters.

“Higher grades can increase production, lower costs, and drive higher rates of return without requiring additional capital.”

Elsewhere in the portfolio, the company is advancing several development and reporting milestones. In Mexico, engineering and infrastructure work for El Gallo Phase 1 is currently underway, with construction slated to begin in late Q3 2026. An updated Mineral Resource Estimate for El Gallo is also due for release in Q3 2026.

McEwen Copper, in which the company holds a 46.3% stake, is progressing the Los Azules project toward a final investment decision. Construction for that project is targeted for early 2027. Meanwhile, at the Tartan Mine Project in Manitoba, recent drilling discovered a new Central Zone, which the company intends to incorporate into future resource estimates to support potential higher-rate production scenarios.

Read the full announcement: McEwen Q2 Results: Net Income of $9.6M ($0.16 per Share), Compared with $3.0M ($0.06 per Share) in Q2 2025; Exploration Results Driving Resource Growth Across All Sites; New Stock Mine in Timmins Nearing Production, with Mine Life Extended