McEwen Mining, Inc. (NYSE:MUX) Q4 2024 Earnings Conference Call March 18, 2025 11:00 AM ET
Company Participants
Rob McEwen – Chairman & Chief Owner
William Shaver – Chief Operating Officer
Perry Ing – Chief Financial Officer
Jeff Chan – Vice President, Finance
Stefan Spears – Vice President, Corporate Development
Michael Meding – Vice President & General Manger, McEwen Copper
Carmen Diges – General Counsel & Secretary
Conference Call Participants
Jake Sekelsky – Alliance Global Partners
Mike Kozak – Cantor Fitzgerald
Chris White – Gray Aspen
John Tumazos – Very Independent Research
Operator
Hello, ladies and gentlemen, welcome to McEwen Mining’s Fourth Quarter and Year End 2024 Operating and Financial Results Conference Call.
Present from the company today are Rob McEwen, Chairman and Chief Owner; William Shaver, Chief Operating Officer; Perry Ing, Chief Financial Officer; Jeff Chan, Vice President, Finance; Stefan Spears, Vice President, Corporate Development; Michael Meding, Vice President and General Manager at McEwen Copper; Carmen Diges, General Counsel and Security. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]
I will now turn the call over to Mr. Rob McEwen, Chief Owner. Please go ahead, sir.
Rob McEwen
Thank you, operator. Good morning, ladies and gentlemen. Welcome to the call. 2024 was a good year for McEwen Mining. While our consolidated production of 135,884 gold equivalent ounces was 12% lower than what we produced in 2023. The selling price of our production was 24% higher. As a result, our adjusted EBITDA was 3.8 times higher this year at 29.2 million or $0.57 a share, versus 7.7 million or $0.16 a share in 2023. We did post a net loss of 43.7 million and that was due to the equity accounting we do — the expenditures at Los Azules of 47 million with a difference of 3.3 million. We spent another 16.5 million on exploration, bringing it to 19.8, and there was 10 million in depreciation. So, our mines
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