McEwen Inc. Joins Russell 2000, Targets 250k–300k Ounce Output by 2030
MUX•McEwen Inc. has been added to the Russell 2000 Index effective June 29, boosting potential passive inflows from funds tracking over $12 trillion in Russell US indexes. The company plans to double gold equivalent output to 250,000–300,000 ounces annually by 2030.
1. Russell 2000 Inclusion and Potential Inflows
McEwen Inc. has been added to the Russell 2000 Index effective June 29, making it eligible for inclusion in strategies tracking the Russell US indexes. Funds benchmarked to these indexes manage over $12 trillion in assets, potentially driving new demand for McEwen shares.
2. Production Growth Targets
The company aims to double its annual gold equivalent production to between 250,000 and 300,000 ounces by 2030 by advancing projects across Nevada, Ontario, Manitoba and Argentina, including the reactivation of the El Gallo mine in Mexico.
3. Los Azules Copper Project and Stake
McEwen holds a 46.3% interest in McEwen Copper’s Los Azules development project in Argentina, representing an implied $457 million stake based on recent financing, with plans to pursue a carbon-neutral copper operation.
